Situation
A large community college identified concerns regarding segregation of duties, oversight and potential fraud within a key department of its institution. The college desired a targeted internal control maturity and fraud risk assessment to better understand their existing processes and controls.
Cherry Bekaert’s Guidance
Cherry Bekaert facilitated a process level risk assessment for the impacted department, gathered information on anti-fraud controls, performed process level control walk-throughs and provided management a report detailing our observations, recommendations and remediation plans.
Result
Because of Cherry Bekaert’s efforts, the college used the detailed risk assessment results in conjunction with the recommendations to identify key areas for control maturity enhancements and reduce their risk of fraud or error.
