Fraud and corruption controls - will they work when called upon?
Risk management is a central part of good corporate governance. This is reflected in recent Australian standards, for example AS 8001 Fraud and Corruption Control 1, where many different examples of fraud type are listed. The standard also refers to principles of risk management that should be considered and applied where possible. It is fine to have controls in place - but will they work when called upon? Judging from recent cases, we should be asking this question of ourselves...
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