Fraud Risk Assessment

A fraud risk assessment can help your organization by illuminating blind spots within your infrastructure. Essentially, it tells you where fraud is most likely to occur. More in-depth than an internal control study, a fraud risk assessment identifies your cycles and identifies risks. Then, we take a look at your internal controls to see how well you’re covered.

Where the internal control study starts with internal controls, the fraud risk assessment starts on the revenue and expense side – how are your collection processes? What is your payroll cycle? Are you proactive or reactive with fraud deterrence?

You need a fraud risk assessment if you:

  • Don’t have an internal audit department
  • Have several buildings
  • Have many collection points
  • Collect a lot of cash
  • Have adult education departments, or collect cash after business hours
  • Have had a management comment on your audit about internal control weaknesses
  • Recently implemented a point of sale system

Email Rea & Associates to find out what solutions we can offer to address your specific challenges.