FOR3703 EXAM PACK
2024
QUESTIONS AND
ANSWERS
FOR ASSISTANCE CONTACT
EMAIL:
, lOMoARcPSD|46589353
TITLE: EFFECTIVE FRAUD RISK MANAGEMENT AND RISK MANAGEMENT
STRATEGIES FOR SMALL AND MEDUIM ENTERPRISES(SMEs).
NAME: BONGIWE NOMKHITHA NHLANGULELA
STUDENT NUMBER: 67735452
SUBJECT: INVESTIGATION OF SELECTED CRIMES AND TRANSGRESSIONS:
MODULE A
CODE: FOR3703
CIRCLE AND YEAR: SEMESTER 1 ,2024
1
, lOMoARcPSD|46589353
Title: Effective Fraud Risk Management and Risk Management Strategies for Small and
Medium Enterprises (SMEs)………………………...page 1
Table of content page
1. Introduction 4
2 Definition of Theoretical Perspectives on Risk Management
2.1 Defining Risk and Uncertainty 4
2.2 Operational Risk Management
2.3 Risk Management Strategies for SMEs
2.4 fraud
3. Principles of Effective Fraud Risk Manag 6
3.1 Establishing a Fraud Risk Management Policy 6
3.2 Conducting Fraud Risk Assessments 6
3.3 Implementing Strong Internal Controls 6
3.4 Promoting an Ethical Culture 7
3.5 Establishing a Whistleblower Program 7
3.6 Conducting Fraud Awareness Training 7
4. Challenges in Fraud Risk Management 8
4.1 Resource Constraints 8
4.2 Rapid Technological Changes 8
4.3 Complex Organizational Structures 8
5. Risk Management Strategies for SMEs 8
5.1 Risk Identification 9
5.2 Risk Assessment 9
5.3 Risk Mitigation 9
5.4 Risk Monitoring 9
5.5 Risk Communication 9
5.6 Leveraging Technology 9
6. Case Studies on Fraud Risk Management in SMEs 9&10
6.1 Case Study 1 10
6.2 Case Study 2 10
6.3 Case Study 3 10
7. The Role of Technology in Risk Management 11
7.1 Big Data and Analytics 11
7.2 Artificial Intelligence and Machine Learning 11
7.3 Blockchain Technology 11
8. Legal and Regulatory Frameworks 11&12
8.1 International Standards 12
8.2 National Regulations 12
8.3 Industry-Specific Guidelines 12
9. The Future of Fraud Risk Management 12
9.1 Emerging Trends 12
2
, lOMoARcPSD|46589353
9.2 Predictions and Forecasts 12
10. Conclusions 13,14,15,16,17,18,19
11. References 20
12.Declaration form 21
1. Introduction
3
2024
QUESTIONS AND
ANSWERS
FOR ASSISTANCE CONTACT
EMAIL:
, lOMoARcPSD|46589353
TITLE: EFFECTIVE FRAUD RISK MANAGEMENT AND RISK MANAGEMENT
STRATEGIES FOR SMALL AND MEDUIM ENTERPRISES(SMEs).
NAME: BONGIWE NOMKHITHA NHLANGULELA
STUDENT NUMBER: 67735452
SUBJECT: INVESTIGATION OF SELECTED CRIMES AND TRANSGRESSIONS:
MODULE A
CODE: FOR3703
CIRCLE AND YEAR: SEMESTER 1 ,2024
1
, lOMoARcPSD|46589353
Title: Effective Fraud Risk Management and Risk Management Strategies for Small and
Medium Enterprises (SMEs)………………………...page 1
Table of content page
1. Introduction 4
2 Definition of Theoretical Perspectives on Risk Management
2.1 Defining Risk and Uncertainty 4
2.2 Operational Risk Management
2.3 Risk Management Strategies for SMEs
2.4 fraud
3. Principles of Effective Fraud Risk Manag 6
3.1 Establishing a Fraud Risk Management Policy 6
3.2 Conducting Fraud Risk Assessments 6
3.3 Implementing Strong Internal Controls 6
3.4 Promoting an Ethical Culture 7
3.5 Establishing a Whistleblower Program 7
3.6 Conducting Fraud Awareness Training 7
4. Challenges in Fraud Risk Management 8
4.1 Resource Constraints 8
4.2 Rapid Technological Changes 8
4.3 Complex Organizational Structures 8
5. Risk Management Strategies for SMEs 8
5.1 Risk Identification 9
5.2 Risk Assessment 9
5.3 Risk Mitigation 9
5.4 Risk Monitoring 9
5.5 Risk Communication 9
5.6 Leveraging Technology 9
6. Case Studies on Fraud Risk Management in SMEs 9&10
6.1 Case Study 1 10
6.2 Case Study 2 10
6.3 Case Study 3 10
7. The Role of Technology in Risk Management 11
7.1 Big Data and Analytics 11
7.2 Artificial Intelligence and Machine Learning 11
7.3 Blockchain Technology 11
8. Legal and Regulatory Frameworks 11&12
8.1 International Standards 12
8.2 National Regulations 12
8.3 Industry-Specific Guidelines 12
9. The Future of Fraud Risk Management 12
9.1 Emerging Trends 12
2
, lOMoARcPSD|46589353
9.2 Predictions and Forecasts 12
10. Conclusions 13,14,15,16,17,18,19
11. References 20
12.Declaration form 21
1. Introduction
3
