Summary.
The world is awash in increasingly varied, sophisticated, and dangerous fraud schemes. Although companies have become quite good at managing predictable, lower-level risks, many have a false sense of security about their ability to anticipate and deal with more hazardous threats. Senior executives and directors need to be aware of their companies’ vulnerability to serious fraud, yet they may be out of the loop because risk assessment is frequently handled further down the chain of command and captured in voluminous, hard-to-penetrate spreadsheets and databases.