Fraud Risk Management

Based on the Occupational Fraud 2022: Report To The Nations published by Association of Certified Fraud Examiners (ACFE), CFEs estimate that organizations lose 5% of revenue to fraud each year with average loss per case of $1,783,000. Nearly half of the fraud cases occurred due to  either lack of internal controls (29%)  and override of existing controls (20%).

At RAMZEE & CO. our team of experienced and qualified Fraud Risk Manager and Certified Fraud Examiner will assist the company to establish fraud risk management, fraud risk governance policies, fraud awareness, ongoing reviews investigation, designing and deploying fraud preventive and detective control activities

Commonly, perpetrators commit fraud due to weaknesses in internal controls. Understanding these weaknesses and the risk environment, a fraud risk assessment amongst others should assist the company’s management to formulate a mature risk management plan.