Professional Governance Consulting (PGC) PGC is a founder-led independent advisory firm providing governance, internal audit, risk and integrity advisory to boards, audit committees and oversight leaders, delivered across the Middle East, Europe, Africa and Asia. Advisory services

Corporate Governance Advisory — board charters, board effectiveness, delegation of authority and accountability mechanisms. Also known as corporate governance consulting or board advisory.

Governance Frameworks — governance framework design, governance operating model, roles, responsibilities and committee structures.

Enterprise Risk Management — ERM frameworks, risk appetite statements, key risk indicators and risk registers, aligned with ISO 31000 and COSO ERM. Also known as risk management consulting.

Internal Control Design & Testing — internal control design, risk and control matrices, control documentation and testing aligned with the COSO framework.

Internal Audit & Quality Assessment — internal audit advisory, internal audit outsourcing and co-sourcing, risk-based audit planning and audit function set-up.

External Quality Assessment (EQA) — independent external assessment of the internal audit function against The IIA Global Internal Audit Standards, with a conformance opinion.

Internal & External Investigations — independent investigations of misconduct and fraud, internally and involving vendors, contractors and suppliers, including evidence packs for legal or regulatory proceedings. Also known as fraud investigation or forensic investigation.

Integrity Management & Ethics Programmes — integrity programmes, codes of conduct and anti-bribery and corruption compliance aligned with ISO 37001.

Hotline & Whistleblowing Management — whistleblowing hotline and speak-up channel design, confidential reporting and case management.

Third-Party Due Diligence — due diligence on vendors, suppliers, contractors and partners to mitigate integrity, compliance and reputational risk.

Regulatory Compliance Training — compliance training and programme support to meet regulatory obligations.

Data Privacy Advisory — data protection compliance, privacy programme design and responsible handling of personal information.

Cybersecurity Advisory — cyber governance, board cyber oversight and information security risk linked to internal control.

ESG Consulting — ESG governance and sustainability advisory integrated into governance, risk and reporting.

Crisis Management — crisis response planning and crisis governance for boards and executives.

Oversight Executive Search — search for governance, audit, risk and compliance leadership roles.

Training & Capacity Development — governance and internal audit training, certification preparation (CIA, CRMA) and oversight capacity building.

Training, assessments and tools

PGC Academy — professional training courses in AI for auditors, risk management, internal audit, fraud investigation and governance.

AI governance self-assessments — free governance diagnostics with tailored PDF reports.

Governance dashboards — governance maturity, risk heat map, fraud indicators, audit lifecycle, three lines model, internal control maturity and AI analytics.

Standards applied The IIA Global Internal Audit Standards, COSO ERM and Internal Control, ISO 31000, ISO 37001, ISO 37008, ISO 27001, ACFE frameworks, OECD anti-bribery principles, INTOSAI/ISSAI, UN best practices, NIST, COBIT and GRI/ISSB. More Services · Industries · Standards · Methodology · Credentials · Case studies · Insights · Knowledge Centre · Contact — info@professionalgc.org, Vienna (Austria) and Amman (Jordan).

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Knowledge Centre

Fraud Risk FrameworksACFE

Fraud Risk Assessment Framework

A framework for assessing fraud risk across the organization, aligned with ACFE methodologies.

Fraud Risk Assessment Framework

A framework for assessing fraud risk across the organization, aligned with ACFE methodologies.

Approach

Fraud risk assessment identifies the fraud schemes to which the organization is exposed, the likelihood and impact of each, and the adequacy of existing controls.

Steps

Understand the business. Objectives, processes, revenue streams and geographic footprint.
Identify inherent fraud schemes. Asset misappropriation, corruption, financial statement fraud — for each business cycle.
Assess likelihood and impact. Consider pressures, opportunities and rationalization (the fraud triangle).
Map existing controls. Preventive and detective controls against each scheme.
Rate residual risk. After controls.
Prioritize and respond. Treatment actions for the highest residual risks.

Inherent fraud schemes to consider

Procurement fraud and bid rigging
Conflicts of interest and bribery
Expense and payroll fraud
Revenue recognition and financial statement manipulation
Asset misappropriation and theft

Governance

The assessment is owned by management and reviewed by internal audit
Results inform the audit plan and the anti-fraud programme
The assessment is refreshed at least annually and after major change

Fraud risk that is not identified cannot be managed.

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Have a governance, risk or integrity question? Speak directly with a founder-led advisor — every inquiry is reviewed personally and held in strict confidence.

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