5. Are fraud risk assessments performed to pro- actively identify and mitigate the company's vulnerabilities to...

 

Transcribed Image Text:

5. Are fraud risk assessments performed to pro- actively identify and mitigate the company's vulnerabilities to internal and external fraud? 6. Are strong anti-fraud controls in place and operating effectively, including the following? O Proper separation of duties Use of authorizations O Physical safeguards O Job rotations O Mandatory vacations Does the internal audit department, if one exists, have adequate resources and authority to operate effectively and without undue influ- ence from senior management? 7. 8. Does the hiring policy include the following (where permitted by law)? O Past employment verification O Criminal and civil background checks O Credit checks O Drug screening O Education verification References checks 9. Are employee support programs in place to assist employees struggling with addiction, mental/emotional health, family, or financial problems? 10. Is an open-door policy in place that allows employees to speak freely about pressures, providing management the opportunity to alleviate such pressures before they become acute? 11. Are regular, anonymous surveys conducted to assess employee morale? 5. Are fraud risk assessments performed to pro- actively identify and mitigate the company's vulnerabilities to internal and external fraud? 6. Are strong anti-fraud controls in place and operating effectively, including the following? O Proper separation of duties Use of authorizations O Physical safeguards O Job rotations O Mandatory vacations Does the internal audit department, if one exists, have adequate resources and authority to operate effectively and without undue influ- ence from senior management? 7. 8. Does the hiring policy include the following (where permitted by law)? O Past employment verification O Criminal and civil background checks O Credit checks O Drug screening O Education verification References checks 9. Are employee support programs in place to assist employees struggling with addiction, mental/emotional health, family, or financial problems? 10. Is an open-door policy in place that allows employees to speak freely about pressures, providing management the opportunity to alleviate such pressures before they become acute? 11. Are regular, anonymous surveys conducted to assess employee morale?

Answer rating: 100% (QA)

5 Yes Fraud risk assessments are an effective tool used by companies to effectively identify and pri... View the full answer