Fraud risk diagnostics
Looking for expert assistance to help you manage your fraud risks?
In today’s business environment with increased legislative and regulatory requirements, fraud surfaces more easily. This often leads to serious reputation damage for companies and executive management/directors. Often companies without fraud experiences have blind faith in their employees and lack sufficient internal controls to counter fraud.
Managing risk of non-compliance with laws and regulations is the responsibility of management and the audit committee. Fraud risk management can address this responsibility. It reduces the risk of personal criminal liability of managers and directors and increases the confidence of independent directors, investors, banks, insurance companies, regulators and the public.
Deloitte Forensics & Dispute services bases its fraud risk management model on the internationally acclaimed Internal Control Integrated framework established by the Committee of Sponsoring Organisations of the Treadway Commission (COSO). Our approach is based on internally developed fraud risk checklists and testing procedures, developed through broad experience. Testing can be organised both on internal controls and accounting data.
Our fraud risk testing tool enables us to perform test on accounting data to detect the possible presence of:
Conflicts of interest between directors / management and suppliers / customers.
Accounts with concentrations of manual accounting entries.
Reactived accounts.
Bank to general ledger transactions.
Accounts opened in the name of fictitious customers or suppliers.
Duplicate documents and the presence of employee bank accounts in accounts payable.
Long outstanding documents on pending and inter-company accounts.
Indications of side agreements with suppliers or customers.
Material manual entries at period-end and entries containing unusual characteristics.
Non-sequential invoices, credit notes and purchase orders.
Illegal cash transactions over € 15,000.
Customers / suppliers that are registered in sensitive regions.
The fraud risk tests can be further customised to your needs
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