Fraud Risk Management is a cyclical process that requires constant application and maintenance to be effective.

It is important that all elements of the cycle are continually assessed for their relevance to the organisation.

Management of fraud risks is the responsibility of all persons in the organisation and should not be left up to a few who fill the risk management roles.

 Fraud Risk Assessment

The assessment will highlight the main vulnerabilities of the organisation and makes recommendations on how to minimise the risk of them becoming a reality.

We utilise current, "best practice" in the assessment of the vulnerabilities and report in accordance with the Australian and New Zealand Risk Management Standard AS/NZS 4360:1999.

We offer a fixed price assessment and guarantee that the assessment will be of benefit to your organisation. This guarantee is to your satisfaction or your money back.

 Policy Development <top>
The company must develop clear policies and procedures to ensure that each team member understands their duties and responsibilities to the management of fraud and theft within the organisation.

They should promote accountability for the actions of the individual and clearly explain the ramifications should the policy be breached.

Clear, unambiguous policies act as a deterrent to fraudulent behaviour and complementary procedures will minimise the risk of fraud and theft occurring in your organisation.

Our team can assist in the development of policies and procedures to let you and your team get on with what you do best!

 Staff Training <top>
Once policies and procedures have been developed and implemented staff must be trained in their roles in the risk management process and to what extent they will be accountable for their actions.

Accountability is the key to providing a deterrent to fraud and theft.

Training conveys the organisational culture to the staff and gives them sufficient confidence and direction to implement the policies and procedures.

Integral to the overall "cycle" of risk management, training also limits the opportunity for staff to claim ignorance when policies are being enforced.

Our team can assist you by developing and delivering training packages which highlight the responsibilites of staff in adhering to the policies and procedures.

 Audit & Detection <top>
This phase of the "cycle" acts as a deterrent to fraud, but should fraud occur it provides detection at the earliest opportunity

Appropriate use of exception reporting available in most computer systems, random checking, staff rotation etc…..are techniques to ensure that policies and procedures are adhered to.

We can provide assist with the implementation of appropriate checking mechanisms both overtly and covertly to ensure compliance with the policies and to detect fraud at the earliest opportunity.

 Investigation <top>
A most important piece of the cycle which ensures that any matters highlighted through Audit and Detection methods are handled in an unbiased, professional manner with regard to all cognisant factors.

Matters need to be handled having regard to Industrial Relations guidelines to minimise the risk of claims for unfair dismissal should this course of action be taken.

Investigation can be a traumatic process for the untrained staff member and there is sometimes residual conflict, where accusations of fraud have not been substantiated.

Our team trained professionals will investigate matters on your behalf or advise and assist your staff on the process of investigation to ensure no difficulties arise.

 Enforcement of Policy <top>
After the matter is investigated fully and evidence obtained there must be a fair, consistent and visible application of the policy to deal with staff who commit fraud.

Without this application staff will realise they can breach policies with relative immunity.

We can advise on appropriate enforcement of policies and facilitate necessary action ranging from counselling/dismissal, through to civil action/recovery and reporting matters to the appropriate authorities.