Risk assessment
“Risk Assessment is a forward looking survey of the business environment to identify anything that could prevent the accomplishment of organizational objectives. As it relates to fraud deterrence, risk assessment involves the identification of internal and external means that could potentially defeat the organization’s internal control structure, compromise an asset, and conceal the actions from management. Risk assessment is a creative process; it involves identifying as many potential threats as possible, and evaluating them in a way to determine which require action, and the priority for that action” (Cendrowski, Martin, Petro, "The Handbook of Fraud Deterrence").