Episode Details

This podcast episode explains Initial Fraud Impact Assessments (IFIAs), a proactive risk management tool. IFIAs help organisations identify and mitigate potential fraud risks associated with new initiatives before implementation. The episode details a step-by-step process for conducting an IFIA, including defining the scope, identifying risks, evaluating impact and likelihood, developing mitigation strategies, and ongoing monitoring. Best practices and common pitfalls are highlighted, emphasising the importance of stakeholder involvement and comprehensive risk assessment. Ultimately, the podcast advocates for IFIAs as a crucial preventative measure against fraud.