Assess Your Fraud Risk
Corporate fraud costs Australian businesses hundreds of thousands of dollars each year – and these are just the instances we know about. Fraud risk management is vital to minimise, mitigate and prevent fraud from occurring.
Fraud can occur in any organisation, no matter what size, industry or sector.
The good news is you can significantly reduce the risk of undetected fraud within your business by taking certain steps. A forensic audit can help you mitigate and identify fraud risk within your organisation and help you develop strong corporate governance frameworks to help prevent it happening again.
Take our FREE fraud risk assessment quiz to identify whether your organisation would benefit from a fraud risk assessment review.
MGI’s audit and assurance team have helped numerous organisations identify weaknesses in governance that may leave you exposed to a greater risk of fraud. And in today’s environment of ongoing data breaches regularly hitting the headlines, can you afford to take a chance that it won’t happen in your business?
Fraud Risk Management Strategies
There are a number of strategies that reduce the risk of fraud occurring and going undetected in your business. These include having the proper internal controls in place, ensuring segregation of duties and spot checks and strengthening IT security.
Particularly when it comes to cyber security you need to have a back-up plan to minimise the impact if you do end up the victim of a business fraud attack.
Third Party Due Diligence
Third party relationships can create an increased level of risk for many organisations including cyber threats, corruption and damage to your business reputation.
Utilizing the very latest in technology as well as capitalising on our significant technical experience, the team at MGI are able to undertake assessments of your supply chain, distributors, sales outlets and other stakeholders to identify the risks posed and provide recommendations for mitigating these risks.
