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Information Sheet Element 1 – Fraud and Corruption Risk Assessments

Publication date
March 2024
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This information sheet forms part of a series of resources to help officials understand and implement the new Commonwealth Fraud and Corruption Control Framework. To access other information sheets, go to Fraud and Corruption Control Framework.

Purpose

The diagram shows how this Policy Element interacts with the other 7 Policy Elements.

This information sheet will help Commonwealth officials understand:

  • how to identify fraud and corruption threats
  • how to apply a risk-based approach to conducting fraud and corruption risk assessments
  • different levels, types and further guidance on fraud and corruption risk assessments
  • relevant policies, frameworks and standards.

At a glance

Some of the key points discussed in this information sheet are:

  • All Commonwealth entities face risks from fraud and corruption.
  • Fraud and corruption risk assessments help entities identify, understand and document the potential sources of fraud or corruption against the entity, the associated risks and their existing control arrangements.
  • Entities must undertake fraud and corruption risk assessments at the enterprise (whole of organisation) level.
  • Specific risk assessments may also be appropriate for an entity’s highest risk activities, functions and programs.

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