The Houston Business Journal recently published an article on their website by PKF Texas Director, Danielle Supkis Cheek, who shares insight on selecting the “second-best” controls for fraud prevention.
Danielle references the 2020 ACFE Report to the Nations as a resource for information and data, which companies can use when finding the best fit for their environment. She asserts that the second-best control is based on:
- Broad applicability to small to large company (and not-for-profits).
- Ability to execute on a test basis for low cost and ability to scale up.
- Extra unintended benefits usually derived for operations from its existence.
- It is a proactive data monitoring/analysis program.
For the full article with more detail, visit www.bizjournals.com/houston/news/2020/07/08/what-is-the-second-best-bang-for-buck-control-to-p.html.