What is the resilience of an entity in preventing, deterring, and detecting fraud and corruption?
Tempe, February 27, 2017
Technical Staff
Tempe, February 27, 2017
Technical Staff
Where to Start?
A smart start at an entity to prevent fraud and corruption would be seeking an answer to the following question:
What is the current status of fraud and corruption in the government entity?
The answer to this question could be qualitative or quantitative. Qualitative responses, for example, could be very low, low, medium, medium-high, high, and catastrophic! Quantitative answers could be a point on a numeric or percentage scale.
This is what we call fraud and corruption risk identification, or sometimes we call it fraud and corruption risk mapping. Fraud and corruption risk is a business risk. Because it is a business risk, it should be embedded in the organization’s strategy. Needless to say that neither this risk nor the strategy is static: they are dynamic.
Fraud and Corruption Risks in a Government Entity
There is not a cut-and-dry measurement for fraud and corruption risks. These risks should be addressed at the following levels: internally and externally.
The following questions and their respective answers would constitute a foundation for identifying and assessing the fraud and corruption risks attributed to the internal environment of the government entity.
Are the elected public officials financially literate?
Is there an orientation program for senior officials and newly elected public officials
Is there an effective internal audit function?
Should circumstances warrant, does the government entity have effective and competent functions similar to those applied in its industry?
Does the government entity have effective compliance function?
Log in to your account to continue reading.
If you are not a member, join us today.
We will start rolling over the CACM via exam in selected countries and regions. CACM candidates of these countries will find the CACM Review material helpful.
We will start rolling over the CACM via exam in selected countries and regions. CACM candidates of these countries will find the CACM Review material helpful.
