Q1-2015 Public Sector Risk Briefing
LET’S FACE IT—Fraud is something that none of us plan for, but when it does occur, it has far reaching impacts on our organizations. Not only is there the financial toll that it takes on our organization, but there may be an even greater impact on our reputation and the confidence and trust our stakeholders have in us.
Every industry is impacted by fraud, including the public sector. In its 2014 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners estimated that organizations lose an estimated 5% of revenue to fraud each year. However, there are proactive measures public sector organizations can take to protect themselves from becoming a victim of fraud.
In this presentation, we will discuss the keys to fraud prevention and detection and how public sector organizations can implement these strategies.
This briefing will be led by Ron Steinkamp, Member, Advisory Services, and Leader of Public Sector Services at Brown Smith Wallace. Ron has more than 20 years of experience working with public sector organizations to implement and monitor fraud prevention and detection controls.
Topics covered during the discussion include:
- Definition of fraud and categories
- Results of the 2014 Fraud survey
- The red flags of fraud – what are the warning signs?
- Keys to preventing and detecting fraud
- How to conduct a high level fraud prevention self assessment