acfe fraud prevention check-up - BKD

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ACFE FRAUD PREVENTIONCHECK-UPBefore You Take the ACFE Fraud Prevention Check-Up❑❑Let your organization’s general counsel or outside legal counsel know you planto take the test. They may want to have you use the test under their direction, toprotect your legal rights.❑❑Do not take the check-up if you plan to ignore the results. If it shows you havepoor fraud prevention processes, you need to fix them. Failing to act could causelegal problems.Who Should Perform the ACFE Fraud Prevention Check-Up?❑❑The check-up should ideally be a collaboration between objective, independentfraud specialists (such as CFEs) and people within the organization who haveextensive knowledge about its operations. To locate a CFE in your area, visitACFE.com/FindaCFE or call (800) 245-3321.❑❑Internal auditors bring extensive knowledge and a valuable perspective to suchan evaluation. At the same time, the perspective of an independent and objectiveoutsider is also important, as is the deep knowledge and experience of fraud thatfull-time fraud specialists provide.❑❑It is helpful to interview senior members of management as part of theevaluation process. But it is also valuable to interview employees at other levelsof the organiation, since they may sometimes provide a “reality check” thatchallenges the rosier view management might present, e.g., about management’scommitment to ethical business practices.How Many Points Should We Award For Each Answer?❑❑The number of points available is given at the bottom of each question.You can award zero points if your organization has not implemented therecommended processes for that area. You can give the maximum number ofpoints if you have implemented those processes and have had them tested in thepast year and found them to be operating effectively. Award no more than half theavailable points if the recommended process is in place but has not been testedin the past year.❑ ❑ The purpose of the check-up is to identify major gaps in your fraud preventionprocesses, as indicated by low point scores in particular areas. Even if you score80 points out of 100, the missing 20 could be crucial fraud prevention measuresthat leave you exposed to major fraud. Therefore, there is no passing grade otherthan 100 points.ACFE.com (800) 245-3321 / +1 (512) 478-9000 4
ACFE FRAUD PREVENTIONCHECK-UPACFE FRAUD PREVENTION CHECK-UPOrganization: ________________________________ResultsDate of Check-up: ___________________________1. Fraud risk oversight❑❑To what extent has the organization establisheda process for oversight of fraudrisks by the board of directors or otherscharged with governance (e.g., an auditcommittee)?Score from 0 (process not in place) to 20 points(process fully implemented, tested within the pastyear and working effectively).Score:2. Fraud risk ownership❑❑To what extent has the organization created“ownership” of fraud risks by identifyinga member of senior managementas having responsibility for managing allfraud risks within the organization and byexplicitly communicating to business unitmanagers that they are responsible formanaging fraud risks within their area?Score from 0 (process not in place) to 10 points(process fully implemented, tested within the pastyear and working effectively).Score:3. Fraud risk assessment❑❑To what extent has the organization implementedan ongoing process for regularidentification of the significant fraud risksto which it is exposed?Score from 0 (process not in place) to 10 points(process fully implemented, tested within the pastyear and working effectively).Score:ACFE.com (800) 245-3321 / +1 (512) 478-9000 5
Page 1 and 2: ACFE FRAUD PREVENTIONCHECK-UP
Page 3: ACFE FRAUD PREVENTIONCHECK-UPThe Be
Page 7 and 8: ACFE FRAUD PREVENTIONCHECK-UPACFE F
Page 13 and 14: Sponsored by:The Institute of Inter
Page 15 and 16: Team Members:Toby J.F. Bishop, CPA,
Page 17 and 18: Managing the Business Risk of Fraud
Page 19 and 20: establish their own fraud risk mana
Page 21 and 22: Fraud risk identification may inclu
Page 23 and 24: Thus, to properly address fraud ris
Page 25 and 26: The board also has the responsibili
Page 27 and 28: • Implementing adequate internal
Page 29 and 30: Fraud Risk Management Program Compo
Page 31 and 32: ecently been hired in the purchasin
Page 33 and 34: Organizations can identify and asse
Page 35 and 36: The Risk Assessment TeamA good risk
Page 37 and 38: This also involves understanding th
Page 39 and 40: - Invoices for goods not received o
Page 41 and 42: Other RisksRegulatory and Legal Mis
Page 43 and 44: SECTION 3: FRAUD PREVENTIONPrincipl
Page 45 and 46: An organization’s HR group is oft
Page 47 and 48: SECTION 4: FRAUD DETECTIONPrinciple
Page 49 and 50: Process ControlsProcess controls sp
Page 51 and 52: keep such information confidential.
Page 53 and 54: will vary depending on the nature,
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Conducting the InvestigationPlannin
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• Extended investigation — Cond
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Fraud ControlsDeloitte Forensic Cen
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APPENDIX B: SAMPLE FRAMEWORK FOR A
Page 63 and 64:
APPENDIX C: SAMPLE FRAUD POLICY 41N
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CONFIDENTIALITYThe ______________ U
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Sample Fraud Policy Decision Matrix
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Identified Fraud Risksand Schemes (
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2) Misappropriation of:a) Tangible
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) Embezzlement(1) False accounting
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Fraud Prevention Area, Factor, or C
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O-Organization / PersonnelO1-Leader
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O4.3 Enhance Operational Skills & C
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PR-Prevent, Protect & PreparePR1-Ge
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E-Periodic EvaluationE1-Evaluation
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I2-CommunicationI2.1 Develop Commun
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CriminologyFraud Prevention Program
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Sample Fraud PolicyAssociation of C
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Sample Fraud PolicyCONFIDENTIALITYT
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Sample Fraud PolicyFraud Policy Dec
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Fraud’s Worst Enemyhttp://www.fra
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ACFE Insights - ACFE Insightshttp:/
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ACFE Insights - ACFE Insightshttp:/
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