RSM Australia’s Fraud & Forensic Services team was engaged to perform Fraud and Corruption Control Services for an Australian Commonwealth corporate entity. 

The engagement involved the following services:fraud and corruption control

Reviewing existing control arrangements

We meticulously examined the entity’s current fraud and corruption control arrangements, comparing them against the gold standard set by the Australian Standard AS 8001:2021 Fraud and Corruption Control. This allowed us to identify areas for improvement and ensure our client was following best practices.

Developing a customized Fraud Control Plan

We crafted a bespoke Fraud Control Plan/System that not only met the stringent requirements of the Australian Government Commonwealth Fraud Control Framework 2017 but also aligned with the latest Australian Standard AS 8001:2021. Additionally, we incorporated relevant elements from the Performance and Accountability Act 2013 (PGPA Act) to ensure comprehensive coverage.

Conducting a thorough Fraud Risk Assessment

Our team conducted an in-depth fraud risk assessment, leaving no stone unturned. We analysed the entity’s existing Fraud Risk & Control Self-Assessment tool, making necessary updates to enhance accuracy and completeness. This step was crucial in identifying potential risks and implementing robust controls.

By undertaking these key initiatives, we were able to provide our client with a tailored approach that addressed their specific needs while adhering to industry standards and regulatory requirements.

Our tailored approachfraud and forensic case study

We knew that this was a complex engagement, but we were up for the challenge. Our team of experts began by holding briefings with key stakeholders to understand the client’s unique requirements. We then prepared a detailed plan and timeline that was presented to the project sponsor and PMO.

To ensure that our approach was tailored to the client’s needs, we identified and collated leading practice material that was relevant to the client and engagement. We also obtained and analysed relevant client documentation and data, which helped us gain a deeper understanding of the client’s existing systems and practices.

Our team conducted discussions with relevant executives and functional owners to understand existing relevant systems and practices. We analysed existing fraud and corruption control arrangements in comparison to legislative requirements and better practice, including the Australian Government Commonwealth Fraud Control Framework 2017, as well as Australian Standard AS 8001:2021 Fraud and Corruption Control.

We further conducted an analysis of current fraud risks, mitigations, and treatments for consideration in design of an updated fraud and corruption risk assessment.

Challenges, issues and risks

The entity being a large Commonwealth corporate entity, there were significant challenges in consulting and working with numerous stakeholders to understand existing fraud and corruption control system practices. Additionally, workplace siloing within the entity presented communication barriers.

Outcomescase study for a corporate entity

Despite these challenges, our team was able to successfully deliver a revised/updated Fraud and Corruption Control Plan/System that reflected the entity’s requirements for compliance with the Commonwealth Fraud Control Framework 2017, as well as Australian Standard AS 8001:2021 Fraud and Corruption Control. The delivery also incorporated alignment with appropriate Australian Standards for Fraud and Corruption under the Public Governance, Performance, and Accountability Act 2013 (PGPA Act) requirements.

Furthermore, RSM provided a revised/updated Fraud and Corruption Risk Matrix that accurately represented the entity’s fraud and corruption risks along with associated controls.

Our team received positive feedback from the client, who said, “It has been great working with you and your team.” We were thrilled to have delivered a solution that met all of our client’s needs while overcoming significant challenges along the way.

RSM Australia's Government services team stands as a beacon of integrity and values, dedicated to supporting our clients in the government sector. We are proud recipients of the Client Choice Award for Best Provider to Government and Community, a testament to our commitment to excellence. Our team will continue to uphold our values, deliver exceptional service, and make a positive impact on our clients and the communities we serve.


For more information

If you would like to learn more about the topics discussed in this article, please contact Roger Darvall-Stevens.