Fraud and corruption are key risks to both individual and
organisational integrity.
However, integrity extends beyond fraud and corruption to areas
such as workplace behaviour (for example, bullying and harassment),
compliance and information security, amongst others. Whilst it is
common practice for organisations to assign a single fraud risk
owner, addressing broader integrity-related risks requires a
coordinated, systematic approach encompassing several business
areas and functions.
Guidance for such an approach is found in the Australian
Standard for Fraud and Corruption Control ('AS 8001' or
'the Standard'). Structured across four pillars -
foundations (governance), prevention, detection, and response - the
Standard provides an impressive source of better practice guidance
for the management of fraud and corruption risks.
