3d Risk Assessment Model

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3D Fraud Risk Assessment Model
Dinev’s SMARTGuide

INSTITUTE OF EXPERT FRAUD EXAMINERS
First Edition - 2012

Foreword
.......................................................................................6 Part I: Navigating Fraud Risk Assessment Terminology ..............8
1.1. What The Dinev’s SMARTGuide Isn’t and Is?
.............................................8
1.1.1. The Dinev’s SMARTGuide Isn’t ...
..........................................................................8 1.1.2. The Dinev’s SMARTGuide Is ... .............................................................................9

1.2. Fraud and Corruption Taxonomy
.................................................................9 1.2.1. Risk, Chance, Fraud and Corruption
.........................................................................9 1.2.2. Classifications of Fraud and Corruption ...................................................................11

1.3. Fraud Risk Assessment Framework
..............................................................30 1.3.1. Contemporary Fraud Risk Assessment Developments
..................................................30 1.3.2. Dinev’s SMARTGuide and Fraud Risk Assessment Terminology ................................33

Part II. 3D Fraud Risk Assessment Model (3D FRAM)
............36
2.1. Characteristics of the Fraud Risk Assessment Process
................................36 2.2. Fraud Risk Assessment Models ....................................................................39 2.3. Why 3D Fraud Risk Assessment Model (3D FRAM)? ................................41 2.4. Who will be the 3D FRAM actors? .............................................................43 2.5. All 3D FRAM experts with proper knowledge, skills and experience! ........44

Part III: 3D FRAM - Functional Dimension
.............................47
3.1. The Characteristics of the Functional Dimension
......................................47 3.2. The Functions of “3D FRAM-Functional Dimension ?” ...........................48
3.2.1. Fraud Exposure, Awareness and Recognition Phase
...................................................50 3.2.2. Fraud Risk Analysis ..............................................................................................73 3.2.3. Fraud Risk Assessment Phase ..................................................................................76

2

Part IV: 3D FRAM - Methodological Dimension
......................82
4.1. The Nature of “The Methodological Dimension”
......................................82 4.2. The Methods and Techniques for Collecting Data .....................................84
4.2.1. Providing Awareness of the Engagement
...................................................................84 4.2.2. Collecting, Obtaining, Searching and Reviewing of Information ..................................98 4.2.3. Data Analysis Methodology .................................................................................123

Part V: 3D FRAM - Timing Dimension
..................................149
5.1. Planning The Fraud Risk Assessment
........................................................149 5.2. Performing The Fraud Risk Assessment ....................................................155
5.2.1. Creating and Training a Team
..............................................................................155 5.2.2. Brainstorming Discussions with the Expert Team Members ......................................161 5.2.3. Preparing a Fraud Terminology for The Case .........................................................167 5.2.4. Presentations to The Client ...................................................................................169 5.2.5. Conducting Planning Procedures ............................................................................175 5.2.6. Performing The Interviews...
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