Identify the types of risks a business is exposed to Assignment

commit the types of risks a business is exposed to - Assignment ExampleFor instance, and organization that found out fraudulent payments were world paid out put in place measures to come across and account for payments not made indoors the accounting system, such as petty cash and manual checks. This response was in recognition that fair to middling internal controls and auditing were key elements in fraud deterrence initiatives, and that upper management and accounting personnel move 50 percent of the occupational fraud. Apart from an enterprise resource planning application for detection on the large scale, the fraud risk management program included written policies on what was expected of ripened management by the board of directors regarding fraud risk. The organization also undertook to assess fraud risk impression periodically to uncover potential schemes. Such structured responses ar designed to minimize chances of alerting the fraudsters, and are supplemented by repor ting process aimed at soliciting input on probable fraud (Cohen, 2006). This way, it was possibly to detect curious payment patterns and missing or altered documents, such as backdating and inconsistent invoice serialization and amounts under specific approved