WEEK 2: TYPES OF CONTROLS TO HELP MITIGATE FRAUD

Some of the “classic controls” that help to mitigate fraud play an important role in businesses large and small.  These “classics” include segregation of duties, authorization controls, review controls (of journal entries, bank reconciliations, etc), safeguarding of assets (usually physical guards over inventory and cash), and change management (IT).

Some people believe that, rather than producing tangible benefits, business controls create resentment and loss of morale. Do you agree with this idea, or do you believe that controls that are designed and operating effectively provide value to an organization?

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