Fraud Risk Management


Fraud and financial misconduct are an unpleasant reality in today's global marketplace with the average U.S. organisation losing an estimated 5 percent of its annual revenue to fraud. As a result shareholders are increasingly interested in fraud risk management to help protect the bottom line and regulators are increasingly demanding more active, global management of fraud risk. 

Understanding organisational vulnerabilities and establishing an appropriate framework to identify and respond to them are essential in today’s global marketplace, as regulators are demanding more active management and investigation for a wide range of risks, including financial crime, fraud and corruption.

Why Companies Need to Act Now

There’s a sense of denial within the leadership about the fact that company is losing significant revenue due to fraud. It’s however ironic to witness their focus on company’s YoY growth and delivering shareholder value. On the other hand, regulators and prosecutors are holding corporate executives and directors accountable not only for acts of fraud or bribery they themselves may have committed, but also for acts which may have been in their control yet they did not take clear action to prevent the same. As a matter of fact, fraud risk exists in every organisation – just in varying degrees.

Prevention Is Better Than Cure

Fraud prevention is the baseline of fraud risk management and has traditionally consisted of simple controls designed to set an ethical and moral tone and limit the opportunity of fraud. Such measures are a good start, but they need to be part of a comprehensive and ongoing fraud risk management strategy that includes third-party due diligence, fraud auditing, brainstorming sessions and data analytics.

How We Can Help

Protiviti’s Fraud Risk Management consultants help organisations build a solid infrastructure for evaluating, mitigating and monitoring their risk of fraud and misconduct. Protiviti’s consultants assist organisations with building sustainable fraud risk assessment processes and developing anti-fraud programs and controls to meet fiduciary and regulatory responsibilities. In addition, Protiviti supports organisations in their efforts to prevent and detect fraud risk at every level, from fraud risk governance and employee training to fraud audits and fraud monitoring programs that helping organisations face changing global demands with confidence. Our rich experience draws upon our expertise in corporate ethics and compliance, investigations, accounting, risk management, government enforcement, technology, and valuation analyses.  

Our team’s unique amalgamation of anti-corruption, fraud risk management and investigative subject matter expertise can quickly identify program shortcomings and remediate your critical programs. We tailor fraud risk assessment according to organisation’s industry and unique operations.