Key suggestions for fraud risk management programs to help achieve the highest level of integrity and mitigate the risk of fraud.
During recessions and periods of economic distress, there is usually increased pressure on organizations to manage costs and conserve. There are also greater incentives for employees, suppliers, customers, agents and others to commit fraud.
This edition of Forensic Focus provides key suggestions for fraud risk management programs to help achieve the highest level of integrity and mitigate the risk of fraud.
Donald R. Cressey’s Fraud Triangle – Motive, Opportunity and Rationalization, represents a condition which allows fraud to occur. What drives a person to commit such illicit behavior, their "motive", is difficult to control. However, "opportunity" can certainly be reduced.
Even though there is no way to completely eliminate the risk of fraud, companies need to address fraud risks by ensuring the appropriate preventive and detective controls are present and properly monitored.
Contact us to learn more about how our fraud risk management professionals can help your organization.
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