FOR3703
Exam Portfolio
(October/November)
2024
, Table of Contents
1.1.The principle of effective fraud risk management in an organisation. ..................................................... 3
1. Risk Assessment................................................................................................................................ 3
2. Prevention Controls........................................................................................................................... 3
3. Detection Controls ............................................................................................................................ 3
4. Response and Investigation ............................................................................................................... 4
5. Continuous Monitoring and Improvement .......................................................................................... 4
6. Ethical Culture................................................................................................................................... 4
7. Governance and Oversight................................................................................................................. 5
1.2 The constitutional and legislative framework against fraud and corruption. ........................................... 6
1. Constitutional Provisions ................................................................................................................... 6
2. Prevention and Combating of Corrupt Activities Act (PCCAA), 2004...................................................... 6
3. Companies Act, 2008 ......................................................................................................................... 7
4. Public Finance Management Act (PFMA), 1999 ................................................................................... 7
5. Municipal Finance Management Act (MFMA), 2003 ............................................................................ 7
6. The Protected Disclosures Act, 2000 (Whistleblowers Protection) ........................................................ 7
7. Anti-Money Laundering Legislation .................................................................................................... 9
8. The King IV Report on Corporate Governance ..................................................................................... 9
9. National Anti-Corruption Strategy (NACS) ........................................................................................... 9
10. International Conventions................................................................................................................ 9
Conclusion ............................................................................................................................................. 10
Exam Portfolio
(October/November)
2024
, Table of Contents
1.1.The principle of effective fraud risk management in an organisation. ..................................................... 3
1. Risk Assessment................................................................................................................................ 3
2. Prevention Controls........................................................................................................................... 3
3. Detection Controls ............................................................................................................................ 3
4. Response and Investigation ............................................................................................................... 4
5. Continuous Monitoring and Improvement .......................................................................................... 4
6. Ethical Culture................................................................................................................................... 4
7. Governance and Oversight................................................................................................................. 5
1.2 The constitutional and legislative framework against fraud and corruption. ........................................... 6
1. Constitutional Provisions ................................................................................................................... 6
2. Prevention and Combating of Corrupt Activities Act (PCCAA), 2004...................................................... 6
3. Companies Act, 2008 ......................................................................................................................... 7
4. Public Finance Management Act (PFMA), 1999 ................................................................................... 7
5. Municipal Finance Management Act (MFMA), 2003 ............................................................................ 7
6. The Protected Disclosures Act, 2000 (Whistleblowers Protection) ........................................................ 7
7. Anti-Money Laundering Legislation .................................................................................................... 9
8. The King IV Report on Corporate Governance ..................................................................................... 9
9. National Anti-Corruption Strategy (NACS) ........................................................................................... 9
10. International Conventions................................................................................................................ 9
Conclusion ............................................................................................................................................. 10
