Managing Fraud Risk: A Practical Guide for Directors and Managers

Closing Remarks

I believe that this book provides an essential guide for all directors and managers at this time. Fraud poses a significant and growing risk to all types of organisations today – public sector, private sector and across jurisdictions – in terms of its potential impact on both their finances and their reputation. It must not remain a business blind-spot, especially at the present time when the tough economic climate has meant that fraud risks have increased significantly.

This book addresses this issue directly. It makes extensive use of real-life examples throughout to show how organisations can best deal with fraud. It advocates taking a proportionate, risk-based approach and provides practical advice that will enable fraud threats to be managed as efficiently and effectively as possible.

The Fraud Awareness Quiz is set out on the following pages. It also features throughout the book. Each Chapter contains one of the questions from the Quiz and the answers are also included in the narrative of each Chapter. Why not take the Quiz yourself? You might be surprised at some of the questions – and also at some of your answers!

Enjoy the book.

Fraud Awareness Quiz

1. Who is responsible for preventing and detecting fraud in your organisation?

2. What is fraud and what percentage of annual turnover are losses from fraud estimated to cost a typical organisation each year? Give three practices or types of behaviour that you consider to be examples of fraud.

3. What ...