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What Is Risk Management?

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What Is Risk Management? The world will always be filled with uncertainty and with uncertainty inevitably comes risk. Risk management, in its simplest form, is assessing the possibility of something bad happening; i.e. “If I take this action, will it result negatively?”. What Is Risk Management?

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Internal Controls & Fraud Prevention

Reciprocity

One common way to perpetrate asset misappropriation fraud is to steal cash before or after it has been recorded in the company’s accounting books. It serves as a benchmark to assess behaviors and hold employees accountable if they are non-compliant. These auditors must know how to assess fraud risk.

Audit 52