Fraud Risk in Today’s Technology-Led Finance Function
Need for an Improved Controls Framework

Fraud is one of the biggest threats to organisations of all types, including not-for-profit organisations. Scale of fraud is probably the only difference in different industries and in different functions. Over the past, many organisations have openly admitted being victims of fraud, while others have not. On the other hand, there are organisations which are aware of their fraud risks and then there are many organisations who are not even aware of their risks. Organisations lose significant amounts of money simply because of lack of awareness about ethics enforcement and anti-fraud controls. Historically, only a small percentage of lost amounts are actually recovered by organisations.