Fraud Risk Management

Are you Pro-active or believe in re-activeness?

Well, if one can afford time, then read the following book to get insight of Fraud Risk Management.

Fraud Risk Managment, By Catherine Turner

“Fraud Risk Management Strategy (FRMS) is the right tool to promote Anti-Fraud Culture and provide composite Anti- Fraud measures that needs to be placed on record as fundamental guidelines, at all corporate to prevent frauds. There are no standard yard stick which would fit in at each corporate, various factor such as Corporate Culture, Ethics, Size, Geographic Position, Management Composition, Nature of operation, Corporate Governance among other such issues effect the formulation of FRMS.”

Instances of corporate fraud and misconduct remain a constant threat to public trust

and confidence in the capital markets. As organizations strive to achieve compliance

with an array of new antifraud laws and regulations that are not prescriptive on the

design of controls in this area, management’s agenda is focusing on efforts to:

• Understand the fraud and misconduct risks that can undermine their business objectives

• Determine whether antifraud programs and controls are actually effective in reducing instances of fraud and misconduct

• Gain insight on better ways to design and evaluate controls to prevent, detect, and respond appropriately to fraud and misconduct

• Reduce exposure to corporate liability, sanctions, and litigation that may arise from violations of law or market expectations

• Derive practical value from compliance investments by creating a sustainable process for managing risk and improving performance

• Achieve the highest levels of business integrity through sound corporate governance, internal control, and transparency.




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