Winning the risk game

Organizations can prevent massive, paralyzing frauds. And they can detect small frauds before they become massive frauds. Practical anti-fraud support is available in the new COSO/ACFE Fraud Risk Management Guide.

"Fraud can't happen to us." Tell that to the C-suite of Wells Fargo. Or the devastated Madoff investors. Or the managers at Lehman Brothers. Or the more than 20,000 former employees of defunct Enron. Or the millions of fraud victims around the world.

In spite of evidence that fraud can occur in organizations when individuals are motivated in that direction, many organizations sometimes underemphasize the importance of fraud deterrence, prevention and detection.

Fraud is almost always devastating to an organization. It's not just the monetary and reputational damage; the sense of betrayal and loss of trust in employees and leaders can have long-lasting impacts.

Organizations can prevent massive, paralyzing frauds. And they can detect small frauds before they become massive frauds. Fraud risk management guidance is available for well-run organizations that commit to protecting stakeholder assets. Managing fraud risk is a systematic process that has benefits beyond protecting assets and reputations.