Finance
Fraud risk assessment
Formal definition
Fraud risk assessment is a charity finance term for identifying, logging, and resolving operational risks before they become major service failures.
What this actually means for you
Use Fraud risk assessment to guide live decisions: set severity definitions and escalation SLAs so teams respond proportionately and quickly, with ownership and reporting agreed at month-end and before trustee reporting cycles.
Example: At the next review checkpoint, Fraud risk assessment is used in practice like this: a high-severity incident triggers a same-day response call with owners, mitigations, and review deadlines. Accountabilities are captured in evidence logs, findings summaries, and remediation actions.
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