Fraud Risk Assessment


Anti-Fraud provides an independent and objective assessment of the organizations existing anti-fraud programme, gaps in the existing controls and suggest measures to mitigate the gaps.

Van Leeuwen FCRM assists its clients in setting up a monitoring framework, developing relevant checking procedures and identifying key risk indicators of fraud, corruption and abuse. It also develops training programmes for employees, and helps to create a continuously evolving control environment reflective of the risk landscape.

Three (3) types of risk assessment:

(1) Identify inherent fraud risk
Gather information to obtain the population of fraud risks that could apply to the organization. Included in this process is the explicit consideration of all types of fraud schemes and scenarios; incentives, pressures, and opportunities to commit fraud; and IT fraud risks specific to the organization.

(2) Assess likelihood and significance of inherent fraud risk
Assess the relative likelihood and potential significance of identified fraud risks based on historical information, known fraud schemes, and interviews with staff, including business process owners.

(3) Respond to reasonably likely and significant inherent and residual fraud risks 
Decide what the response should be to address the identified risks and perform a cost-benefit analysis of fraud risks over which the organization wants to implement controls or specific fraud detection procedures.

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