As organizations do their best to formulate a comprehensive, proactive strategy to prevent, detect, and respond to integrity threats, they can be well served in focusing their efforts on the following:
- Identifying and understanding the fraud and misconduct risks that can undermine increasingly complex, global business objectives
- Evaluating the design and operational effectiveness of corporate compliance programs and related antifraud programs and controls
- Gaining insight on better ways to design and evaluate controls to prevent, detect, and respond to fraud and misconduct
- Reducing exposure to corporate liability, sanctions, and litigation that may arise from violations of law or stakeholder expectations
- Deriving value from compliance investments by creating a sustainable process for managing risk and improving performance
- Achieving high levels of business integrity through sound corporate governance, internal control, and transparency.
This white paper provides an overview of fraud and misconduct risk management fundamentals. It also provides a road map that organizations can use to move beyond a check-the-box approach to managing the risks of fraud and misconduct, and instead, design, implement, and evaluate proactive practices that leading organizations have found to be effective.