The State of Fraud Risk Management


Many organizations have faced significant disruptions and challenges during the global pandemic. The Anti-Fraud Collaboration, along with the Business Ethics Leadership Alliance (BELA) and the Center for Audit Quality, brought together representatives from 16 global companies to form a working group and discuss the current state of fraud risk management at their organizations. Considering the impact of various sources of change on controls and processes that can affect an organization’s business model and risk profile, the working group examined the fundamentals and arising challenges of effective fraud risk management in today’s climate. This summary includes conversations about the current and goal states of fraud risk management programs at member organizations, how they map internal and external sources of risk to establish a baseline risk profile, and how they strive to embed culture throughout their business.

The report includes:

Fraud risk management maturity

Approaches working group members take to identify sources of external and internal risk

Fraud risk management in times of crisis

The role of culture in fraud risk management

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Categories: Risk