An essential stage in fraud investigation is creating a vulnerability map, which aids investigators in methodically identifying organizational components that are most vulnerable to fraud and theft (Albrecht et al., 2006; Jia et al., 2021). A vulnerability chart gives a clear visual representation of the areas where fraud risks are concentrated by mapping business processes, control actions, accountable persons, and potential flaws.

Each operational cycle, including cash handling, procurement, payroll, and inventory management, is first documented (Pertence et al., 2020). Investigators examine current regulations and determine how they might be avoided for every cycle. Lack of job segregation, shoddy permission processes, inadequate supervision, and inadequate documentation are common risks. Investigators can select high-risk locations for more investigation by arranging this data in a chart.

Additionally, a vulnerability structure facilitates effective planning of investigations (Schilling and Muller, 2022). Investigators can concentrate on procedures with the greatest fraud exposure rather than randomly looking for proof. This focused strategy boosts the possibility of finding stolen actions, saves time, and lowers investigative expenses. Additionally, management can utilize the chart as a preventive tool to improve internal controls prior to fraud.

To sum up, creating a vulnerability chart turns intricate organizational procedures into a well-organized risk map. In addition to increasing the efficacy of fraud investigations, this tool supports better governance and long-term fraud prevention.

References

  • Albrecht WS, Albrecht CO, Albrecht CC, et al. (2006) Fraud examination: Thomson South-Western New York, NY.
  • Jia JJ, Pal D, Deng CH, et al. (2021) GLAIVE: Graph Learning Assisted Instruction Vulnerability Estimation. Design, Automation and Test in Europe Conference and Exhibition (DATE). Electr Network, 82-87.
  • Pertence AAFGM, Mini RAF and Marques-Neto HT. (2020) Vulnerability Analysis of the Urban Transport System in the Context of Smart Cities. 2020 IEEE International Smart Cities Conference, ISC2 2020.
  • Schilling J and Muller T. (2022) VANDALIR: Vulnerability Analyses Based on Datalog and LLVM-IR. 19th International Conference on Detection of Intrusions and Malware and Vulnerability Assessment (DIMVA). Univ Cagliari, Cagliari, ITALY, 96-115.