Fraud risk assessment
Find the gaps before someone else does.
A fraud risk assessment built by investigators: where your business is exposed, which controls would stop it, and what to fix first.
- Schemes mapped to your processes: procurement, sales, payroll, inventory, treasury
- Controls tested with your own data, not just questionnaires
- Prioritised action plan for management and the audit committee
A senior specialist is available immediately to talk your matter through, before any assignment.
Speak to an expert- Investigations for corporates in India and overseas
- 1,250+Investigations for corporates in India and overseas
- Market intelligence assignments
- 500+Market intelligence assignments
- Years investigating corporate misconduct (since 2007)
- 19+Years investigating corporate misconduct (since 2007)
- Countries where we have investigated
- 11+Countries where we have investigated
Exhibit · SF-FRA
Fraud risk assessment
- Handling
- Strictly confidential
- First contact
- Senior specialist
- Evidence
- Chain of custody
- Coverage
- India & 11+ countries
In short
A fraud risk assessment identifies how fraud could be committed against or by your organisation, rates each scheme by likelihood and impact, and tests whether existing controls would prevent or detect it. Because Spectra Forensics investigates real frauds, the assessment starts from how schemes actually work in Indian businesses, and ends with a prioritised action plan.
Talk it through with a senior specialistWhen clients call us
Why companies ask for one
After a fraud
To find out what else could be happening and close the gaps.
Audit committee oversight
Evidence that fraud risk is assessed and controls are effective.
Growth or a new market
New plants, channels, geographies or acquisitions change the risk.
Anti-bribery compliance
Risk-based controls for third parties, gifts and government interactions.
Before an IPO or investment
Governance that stands up to investor and regulator scrutiny.
Guide
What you need to know
What is a fraud risk assessment?
A structured review of how fraud could occur in an organisation (by employees, management, vendors, customers or outsiders), how likely and how damaging each scheme would be, and whether existing controls would prevent or detect it.
Why does it matter for directors?
Section 134(5)(e) of the Companies Act 2013 requires the directors’ responsibility statement of listed companies to confirm that internal financial controls are adequate and operating effectively, and internal financial controls include preventing and detecting fraud. A documented fraud risk assessment is part of the evidence behind that statement.
How is an investigator-led assessment different?
Instead of checklists alone, we use data analytics on your purchase, sales, payroll and payment data to look for the patterns real schemes leave behind. Gaps are therefore evidenced, and sometimes an active issue is found early.
- Fraud risk register mapped to your processes
- Control gaps tested with data analytics
- Prioritised remediation plan
- Board or audit committee summary
- Optional: anti-bribery and whistleblower programme design
What to expect
What happens after you get in touch
- 01
Consult a senior specialist
A senior specialist is available immediately to listen to what has happened and talk through your options, before any assignment. No names or documents are needed at this stage.
- 02
A proportionate scope
We suggest the right next step, from a preliminary review to a full engagement, with the team, approach and fee basis agreed before work starts.
- 03
Evidence first, discreetly
Work starts by securing records, devices and data before anyone connected to the matter is alerted.
- 04
Findings you can act on
A clear, evidence-backed report for your board, lender, counsel or regulator, with support for the next legal, disciplinary or commercial step.
Why Spectra Forensics
Independent, discreet, evidence-led
Frequently asked questions
How often should a fraud risk assessment be done?
Commonly once a year, and whenever the business changes significantly: a new market, an acquisition, a new ERP or after an incident.
Is it the same as an internal audit?
No. Internal audit tests compliance with processes. A fraud risk assessment asks how someone determined to commit fraud would get around them.
Can it cover anti-bribery compliance?
Yes. We assess bribery risk in third parties and government interactions, and help design programmes that reflect the Prevention of Corruption Act and, for international groups, the FCPA and UK Bribery Act.
What if the assessment finds an actual fraud?
We agree with you in advance how potential issues are escalated, usually to the audit committee chair and counsel, and can move straight to an investigation if needed.
Speak to us in confidence