Fraud Risk Assessment
Conducting risk assessment and providing best in class recommendations
- Information Gathering
Collecting policies, procedures, rules and controls.
Meeting with relevant employees to understand the process, controls and technology.
- Control Tests
Assessing the design of current controls in place to prevent and detect fraud.
- Gap Analysis
Assess controls in place against expected controls in PwC Framework and identify any improvement areas.
Reporting observations, findings and recommendations to the relevant management.
Writing policies and procedures in relation to fraud fighting activities.
Fraud Prevention & Detection Program Design, Implementation & Monitoring
How can PwC help you?
Fraud prevention programs place responsibility on a company’s employees, regardless of their level. Using applications shaped in accordance with the company’s needs, we provide help on the following issues:
- Introduction of anonymous fraud reporting systems and assessment of the efficiency of existing systems
- Establishment of code of ethics and provision of related internal trainings
- Identification of business processes exposed to fraud risks and analysis of significance of impact and probability of such risks
- Design of control activities regarding significant risks and improvement of existing control activities
- Establishment of fraud monitoring and detection systems and related control activities
- Assessment and improvement of precautions and action plan for use in event of detection of fraud.
Fraud Maturity Program Assessment
Our Fraud Maturity Program Assessment involves the following procedures to help you with developing a solid program based on the components of Fraud Risk Management:
- Identification of risks
- Classification and evaluation of risks
- Identification of controls in place
- Assessment of the control environment
- Determination of the fraud maturity program effectiveness
Fraud Risk Remediation
We help you with developing a Fraud Risk Remediation plan which involves the following:
- Determination of current risk management level
- Development of action plan for the management to eliminate the identified risk
- Design and implementation of a tailor-made fraud risk remediation plan.
Anti-Fraud Control Review
We help you with developing an Anti-Fraud Control Review which involves the following steps:
- Designing a list of control activities to identify and prevent fraud risks and developing an action plan, and periodically monitoring whether the actions listed in this list are realized
- Creation of an abuse prevention and crisis management plan approved by the top management, covering all the company employees and stakeholders, identifying the duties and responsibilities, covering all the basic mechanisms of the anti-fraud process and crisis management
Fraud Response Plan
We design fraud response and remediation plans which set out the organisation’s approach to tackling fraud. It is a formal means of showing the mechanisms in place for dealing with detected or suspected incidents of fraud. We help you with the design of fraud response which ensures that incidents are managed in a systematic and efficient manner.