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Fraud Risk Management

Fraud Risk Management

KPMG’s Fraud Risk Management services are aimed at helping firms’ clients prevent, detect, and respond to fraud and misconduct risks.

KPMG’s Fraud Risk Management services are aimed at helping firms’ clients.......

Preventing, detecting, and responding to fraud and misconduct risks

How KPMG Forensic can help

Fraud occurs every day all over the world and companies lose billions of Rand to fraud. Corporate fraud and misconduct remain a constant threat to public trust and confidence in capital markets. Organisations strive to achieve compliance with an array of anti-fraud laws and regulations that are not prescriptive on the design of controls in this area.

Fraud Risk Management (“FRM”) is an ongoing process that provides an organisation with the tools to manage fraud risk in a manner consistent with the regulatory requirements as well as entity’s needs. An effective FRM approach encompasses controls that achieve the following key objectives:

  • Prevention
  • Detection
  • Response

The FRM approach consist of four phases: 

  • Assess the risk - Profiling the current state of the FRM framework, setting targets for improvement
  • Design - Designing programs that encompass controls to prevent, detect and respond to incidents 
  • Implement - Deploying a strategy to implement the new controls throughout the organisation
  • Evaluate - Assessment of existing controls to ascertain if they adequately mitigate the potential risks that the organisation is exposed to.

KPMG Fraud Risk Management provides services that are aimed at helping clients prevent, detect, and respond to fraud and other misconduct. We do this by working with our clients to design, implement, and evaluate fraud, ethics and controls. In addition, KPMG Forensic takes a holistic position with regards to fraud risk management and this is reflected in the breadth and depth of our service offerings listed below. Our offerings can be customised to suit our clients’ needs. 

Fraud Risk Management Service Offerings:

  • Online FRM Strategy Assessment
  • Anti-Fraud and Corruption Policies and Strategies 
  • Forensic Data Analysis (FDA)
  • Forensic Function Reviews
  • Fraud Awareness Training
  • Fraud Resistance and Compliance Reviews

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