Accounting Questions:
In the last module we discussed the reactive approach that can (and has been) taken by corporations to identify current fraudulent activities. The issue with this approach is that by the time corporations identify ongoing issues, the damage has already been done.
In this moduel (Module 3), we discuss the concept of fraud deterrence and the mitigation of fraud risk. The purpose of this section is to develop a proactive approach to protecting the corporation from instances of fraud by creating a process to limit opportunities for fraudulent acts.
As you develop your discussion board post for this week, please consider the following:
1. What key elements would you include as part of a fraud risk assessment?
2. Why are these elements critical to success?
3. Which members of the organization should be involved in the development of the assessment?
4. How would you handle ownership of the assessment?
As you craft the answers to the questions above, please make use of the library resources to help find literature and/or articles that support your approach. Please use these questions as you develop responses to your classmates' posts as well.