October 2013
Beginner
544 pages
20h 52m
English
After studying this chapter, you should be able to:
| 14-1 | Describe the factors that influence an organization's vulnerability to fraud |
| 14-2 | Explain the difference between preventive and detective controls |
| 14-3 | Define and explain the objective of a fraud risk assessment |
| 14-4 | Discuss why organizations should conduct fraud risk assessments |
| 14-5 | Understand the characteristics of a good fraud risk assessment |
| 14-6 | Describe considerations for developing an effective fraud risk assessment |
| 14-7 | List actions that should be taken to prepare a company for a fraud risk assessment |
| 14-8 | Understand the steps involved in conducting a fraud risk assessment and how to apply a framework to it |
| 14-9 | Describe approaches to responding to an organization's residual fraud risks |
| 14-10 | Name important considerations when reporting the results of a fraud risk assessment |
| 14-11 | List actions management should take using the results of a fraud risk assessment |
| 14-12 | Explain how a fraud risk assessment can inform and influence the audit process |
For the organization's fraud risks to be effectively managed, they must first be identified using a formal risk assessment. If performed and used correctly, a fraud risk assessment can be a powerful proactive tool in the fight against fraud for any business. Additionally, regulators, professional standard-setters, and law enforcement authorities continue to emphasize the crucial role ...