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Fraud risk management in the public sector

Do you know your agency requirements for fraud risk management?

  • The Fraud Reduction and Data Analytics Act of 2015
  • OMB Circular A-123
  • Federal Internal Control Standards

Are you familiar with GAO's Fraud Risk Management Framework? This framework emphasizes using a risk-based approach and focusing on fraud prevention. The practices may be tailored to a program’s operations,including environmental factors and the program’s risks.

Grant Thornton has been an industry leader in risk management for over a decade, with a proven track record of success in helping agencies identify and mitigate risks. In fact, Grant Thornton implemented the first Enterprise Risk Management (ERM) program in the Federal government resulting in the establishment of the first Chief Risk Officer at the Department of Education Federal Student Aid. When it comes to fraud risk management, Grant Thornton is leading the way in developing effective solutions for federal, state and local government program managers.

Linda Miller, former GAO Assistant Director and principal author of GAO’s Framework for Managing Fraud Risks in Federal Programs, heads up Grant Thornton’s Fraud Risk Management practice and is uniquely positioned to assist agencies with all aspects of fraud risk management. Grant Thornton offers tailored solutions to help agencies not only comply with new requirements, but develop fraud risk management systems that will improve program integrity and save taxpayer money.

Grant Thornton's fraud risk management team can help agencies by:

  • Conducting fraud risk assessments and developing fraud risk profiles.
  • Creating an organizational culture and structure conducive to fraud risk management.
  • Designing and implementing specific control activities.
  • Evaluating outcomes and adapting activities.

Learn more about Fraud Risk Management in the Public Sector