KPMG releases fraud prevention guide

Big Four firm KPMG has released a new
white paper called
Fraud Risk
Management: Developing a Strategy for Prevention, Detection, and Response
setting out what companies need to keep in mind when developing a strategy for
tackling the problem.

According to the white paper, effective fraud risk management provides an
organisation with tools to manage fraud and misconduct risk in a manner that
meets regulatory requirements, as well as the entity’s business needs and
marketplace expectations.

‘Companies need to take a strategic approach to fraud risk management by
aligning corporate values with performance,’ said
, director in KPMG Forensic.

‘Fraud risk management must become part of the corporate culture. The board,
senior management, internal audit, in fact all employees, have a role to play to
ensure that the company is enacting and achieving ethical and responsible
business practices,’ he added.

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