Fraud Risk Assessment – Meaning, Tool & Survey

Abstract

Fraud can inflict severe damage on companies by weakening stakeholder confidence, lowering employee morale, decreasing profits and damaging company reputation. And by the time fraud is detected and reported, it is usually too late, as most organizations recoup none of their losses. To protect against the threat of fraud, risk management leaders should establish a strong fraud risk management program. Having such a program can help stop fraudulent behavior before it happens.