Fraud/Bribery Risks and Controls

Your issues

You want to ensure that your company has a best-in-class framework, which addresses fraud prevention and detection activities.

You want to be confident that processes in your company are adequate to uncover significant frauds and bribery/corruption and to avoid claims of negligence if they occur.

You want to make sure that you have the right processes to deal with fraud or other inappropriate acts.

You are looking to develop in-house expertise on forensic capabilities but at the same time have expert support when required.

 

How we can help

PwC offers clients complete anti-fraud management solutions from diagnosis to prevention, detection and remediation.

Our goal is to transfer our knowledge in fraud management and forensics to enable you to develop a sustainable and efficient approach. PwC's global forensic team can also assist you in addressing local issues in specific markets.

We can provide assistance in two key areas:

Support for executive and line management

  • Review and challenge the existing "fraud risk spectrum" to assure a common, comprehensive, agreed approach and appropriate involvement of the audit committee in the fraud and misconduct risk assessment.
  • Determine the probability, size and potential impact of frauds, before assessing the costs and benefits of different solutions.
  • Assess your organisation’s culture and management style and the adequacy of systems and monitoring controls.
  • Develop, together with your team, cost-effective solutions that meet your business objectives and fit your organisation’s culture.
  • Implement targeted fraud auditing procedures, including the use of data mining tools.
  • Implement processes to identify red flags for fraud and misconduct as well as a set of methods of performing a robust investigation, including coaching your team.
    Implement an e-discovery process and help you improve your procedures for whistle blowing.
  • Provide fraud prevention trainings and fraud awareness workshops to management and dedicated staff.

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Support for the audit committee and management in fraud prevention

  • Define the roles of the functions, like legal, compliance, human resources, external and internal audit and of the audit committee.
  • Assist you in communicating cases of fraud and provide support when issues are uncovered.
  •  Define the process for receiving and retaining information and help you to react appropriately when incidents involving suspected improprieties arise.
  • Ensure an independent management process is defined for reviewing incidents to make sure challenges can be effectively answered.
  • Offer special board advisers who can be consulted on the potential risk of fraud and misconduct attached to strategic decisions.

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Contact us

Michael Weis

Partner, Forensic Services and Financial Crime Leader, PwC Luxembourg

Tel: +352 49 48 48 4153

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