“We’re ok.  We performed a fraud risk assessment two years ago…”

First, this church should be commended because very few churches ever get around to assessing its susceptibility to fraud.  But, determining exposure to fraud at one period in time is not sufficient.  Fraud protection is not a one-time event.  It is an ongoing process. 

There are a few disturbing facts hidden within this statement:

First, fraud protection is not really a priority of this church’s management. This church was able to put off any effective fraud prevention for two years; obviously other things seem to be more important.

Second, even though this church conducted an assessment they are not using it.   The purpose of a fraud risk assessment is not simply to gain information about how the church stands.  It is to take the knowledge gained and apply it on a daily basis to the operations of the church.  Kind of similar to Bible study isn’t it?

Third, things change.  What worked two years ago may be completely obsolete now.  The crooks are hard at work trying to figure out ways to take your money.

You should be at work too!

Interested in an objective Fraud Risk Assessment to complement your independent audit?  Contact us today about scheduling one of our many Best Practice Engagements at at (817)664-3000 or email us using our contact form.