Fraud Risk Assessment (FRA) involves identifying areas of vulnerability, assessing potential schemes (internal or external), and evaluating controls in place. We help organizations map the fraud landscape across departments, roles, and systems highlighting red flags and weaknesses.

Our team uses a blend of data analytics, control testing, interviews, and forensic techniques. We focus on key fraud risks like payroll fraud, procurement manipulation, financial statement fraud, cash misappropriation, fake vendors, and more. We also align our approach with COSO and ACFE frameworks for global consistency.

When a suspected fraud is identified, we conduct discreet, evidence-backed investigations. This may include forensic reviews of transactions, emails, system logs, CCTV footage, and staff interviews. Our findings can be used in internal disciplinary actions or legal proceedings.

We don’t just stop at uncovering fraud we help redesign controls to prevent it. This includes setting up whistleblower mechanisms, segregation of duties (SoD), approval workflows, anomaly detection systems, and real-time alerts that act as fraud deterrents.

All our fraud assessments and investigations are conducted with the utmost confidentiality, professionalism, and sensitivity. We ensure management is kept informed while protecting the identities of whistleblowers and avoiding disruption to business operations.

• Fraud Vulnerability Mapping & Controls Testing

• Vendor & Procurement Fraud Risk Review

• Financial Misstatement & Accounting Irregularities Review

• Employee Interviews & Behavioral Red Flag Detection

• Data Analytics & Journal Entry Testing

• Post-Fraud Remediation & Control Strengthening
• Training for Employees & Fraud Prevention Awareness

We don’t believe in one-size-fits-all auditing. At Pawan Lohia & Associates, every Risk-Based Internal Audit begins with an in-depth understanding of your business model, industry dynamics, and regulatory exposure. Our team collaborates closely with your internal stakeholders to prioritize risk areas, define scope, and execute detailed audits with a strategic lens.