While acknowledging that no single approach to risk management exists, this paper spotlights leading practices that organisations have generally found to be effective when building their compliance programs and related anti-fraud programs and controls. It also offers strategic insights for aligning organisational values with performance.
- Move beyond a check-the-box approach to managing the risks of fraud and misconduct and instead, design, implement, and evaluate proactive practices that have been found by leading organisations to be effective
- Refer to laws and guidance applicable in many parts of the world, particularly in the Asia Pacific (ASPAC) region to help organisations understand the regulatory landscape and the types of breaches
- Key objectives: prevention, detection, and response
- Effective fraud risk management provides organisations with tools to manage risk consistent with both legal and regulatory requirements as well as the entity's business needs and marketplace expectations.