Keeping with the times

The Fraud Risk Management Guide has provided valuable guidance to fraud examiners, company leaders and other professionals since it was published five years ago. Now, the Committee of Sponsoring Organizations of the Treadway Commission and the ACFE — the guide’s creators — will incorporate users’ feedback to produce a stronger, updated edition.

Most CFEs are familiar with the Fraud Risk Management Guide (FRMG), which the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the ACFE jointly published in 2016. (See ACFE.com/fraudrisktools.) The FRMG includes more than just information on how to perform fraud risk assessments — it also provides guidance on how fraud risk management programs work.

Given its comprehensive nature, the FRMG quickly gained recognition for its best practices in preventing, detecting and deterring fraud. Global business professionals around the world continue to widely use the FRMG.