RISK - steps to performing a fraud risk assessment

step 1

select risk assessment team and participants

step 2

facilitate anti-fraud brainstorming workshopsq

step 3

document and describe fraud schemes — identify responsible parties

step 4

invite responsible partuies to participate in fraud risk rating activities with participants

step 5

identify and document anti-fraud controls

step 6

identify gaps in anti-fraud controls and develop fraud prevention and detection enhancement plans