FRAUD RISK MANAGEMENT

Our Forensic Audit Services unit consists of lawyers, auditors, accountants, IT specialists and seasoned investigators to ensure that we can service the forensic auditing needs of our clients. Our investigators excel in the forensic environment due to their specialised detective and commercial crime investigation training by world renowned experts and institutions.

Fraud Risk Management is about expecting the unexpected and often venturing into unknown areas of fraud risk. According to recent fraud surveys, management of fraud risk has accepted change to become more responsive to fraud and to do so in a timeous and proactive manner.

An effective business driven fraud risk management initiative provides an organisation with tools to manage risk in a manner consistent with regulatory requirements as well as the entity’s business needs and market place expectation.

UNDERSTANDING OUR CLIENTS’ CIRCUMSTANCES:

In order to illustrate where forensic audit / fraud risk management opportunity lies, the 2018 PWC

Global Economic Crime and Fraud Survey was referred to. The following key findings are listed below:

  • 42% of respondents said their companies had increased spending on combatting fraud (up from 39% in 2016).
  • The Financial services and technology industries are finding the most value in Artificial intelligence and advanced analytics.
  • 44% of respondents said they plan to boost spending over the next two years.
  • Senior management fraud risen 16% in 2016 to 24% in 2018.

OUR SERVICE OFFERING INCLUDES:

Our forensic audit professionals have proven ways to help clients address the challenges and risks of doing business in today’s environment. In order to successfully conduct forensic audit investigations, we have expertise in forensic auditing, investigations, digital, forensic, legal and disciplinary procedures as well as fraud risk management.

These services include:

  • Fraud Prevention
  • Forensic Investigations
  • Digital Forensics / Data Analytics
  • Disciplinary, Criminal / Civil and labour support

BENEFITS TO OUR CLIENTS:

Anti-Fraud Strategy: We compile / enhance Anti-Fraud strategies detailing the clients’ fraud risk appetite and how they will combat fraud and corruption.

Fraud Prevention Plan: We compile / enhance Fraud Prevention Plans that assist clients with monitoring and managing fraud. A Fraud Prevention Plan details mechanism for the prevention, detection and investigation of incidents of fraud

Fraud Related Policies: We compile / enhance fraud related policies that form the foundation of fraud related government in an organisation.

Fraud Risk Assessments: We perform fraud risk assessments for our clients to assist them to effectively manage and identify fraud risks across the organisation.

Fraud Awareness: We compile fraud awareness plans and roll-out various fraud awareness initiatives, in order to inform and empower employees with being aware of fraud. This includes training, mini fraud guides, fraud awareness campaigns, posters, etc.

Fraud Vulnerability Review: In order to identify weakness in controls or gaps in processes we perform fraud vulnerability reviews.

Product Lead – Fraud Risk Management:

Sizakele Bophela

Qualifications:

  • ACFE
  • Bachelor of Commerce
  • Dip. Project Management