The Risk Assessment Matrix Tab is used to document the fraud risk assessment. It identifies every fraud risk or exposure, scores the likelihood and significance of each fraud risk/exposure, enables identification of existing control activities and their effectiveness, records the assessed effectiveness of each control activity, identifies residual fraud risk, and allows recording of fraud risk response action plans.
The Heat Map Tab automatically creates a "heat map" based on the information in the Risk Assessment Matrix Tab.
The Fraud Risk Ranking Tab is created automatically based on the information in the Risk Assessment Matrix Tab and lists all identified fraud schemes/fraud risk scores/and response plans.
The Control Activities Matrix Tab is generated based on information in the Risk Assessment Matrix Tab and facilitates documentation of control activities and individuals responsible for each control activity.
The Allegations-Disposition Tab provides a record of allegations received, actions taken to investigate each allegation, and the final disposition of each allegation.
The Monitoring Actions Tab provides a record of the organization's monitoring plans, persons responsible for monitoring actions, and the results of each monitoring action.