An effective fraud risk management framework includes an active strategy and effective controls to prevent, detect, and respond to occurrences of fraud or corruption. Having only polices, plans, and processes in place is not sufficient for combatting fraud and avoiding its high cost.
Our self-assessment tool enables entities to better understand where they need to improve their fraud controls and priority areas to focus their improvement efforts on in response. It is designed for use at an organisation level, and entities will maximise its value if their assessment is evidence-based.
This tool reflects the insights from our reports Fraud risk management (Report 9: 2012–13), Fraud Management in Local Government (Report 19: 2014–15), and Fraud risk management (Report 6: 2017–18).
We refreshed this tool in 2023 to reflect the revised Australian Standard 8001:2021 Fraud and Corruption Control, such as new minimum requirements to an entity’s approach to fraud and corruption control, updated definitions, and requirements and guidance on information system security and information and communication technology. It supersedes the Queensland Audit Office’s original tool published in 2015.
We have also recently updated our Fraud risk assessment and planning model, which entities can use to self-assess how they identify fraud risk, control and treat risks, and monitor and report on the risk.