Risk Management

Business Risk Management

Action plans to decrease risk

Proactive risk management.

Preventing fraud begins with an intentional approach to identifying control weaknesses and implementing practical solutions. Our Boyum Barenscheer internal control professionals specialize in helping small businesses create a plan to assess and minimize risks, ensure accountability and empower employees to spot trouble.

Our business risk management services

  • Data analytics and insights
  • Forensic data analysis
  • Employee training on fraud prevention
  • Cybersecurity risk assessment
  • Internal control process analysis
  • Fraud risk assessment
  • Forensic accounting
  • Fraud examinations

Other services used by our clients


What are the most common types of business fraud?

There are three types of occupational fraud and abuse: corruption, asset misappropriation and financial statement fraud. Asset misappropriation was the most common form of occupational fraud (more than 85% of cases) – smallest median loss of $125,000 while financial statement fraud occurs less than 10% of cases – causes a median loss of $975,000. (Report to the Nations on Occupational Fraud and Abuse – 2016 Global Fraud Study” – Association of Certified Fraud Examiners)

What is the process for an internal controls risk assessment?

The first step to prevent fraud in your business is to evaluate the five components of internal controls: control environment, risk assessment, control activities, information and communication and monitoring activities. We at Boyum Barenscheer can assist you with implementing fraud prevention best practices. Our internal control services are built specifically to your business to analyze the culture and structure, evaluate current processes and procedures within your business and implement ongoing monitoring procedures. We aim to eliminate the opportunity to commit fraud within your company by helping owners and management access opportunities to strengthen internal control process and procedures. The overall objective is to help the company and its employees reduce risk of errors or fraud and safeguard company resources and assets.

Are small businesses at greater risk for fraud?

Small organizations have a significantly lower implementation rate of anti-fraud controls than large organizations. This gap in fraud prevention and detection coverage leaves small organizations extremely susceptible to frauds that can cause significant damage to their limited resources. The median loss suffered by small organizations (less than 100 employees) was the same as that incurred by large organizations (more than 10,000 employees). (Report to the Nations on Occupational Fraud and Abuse – 2016 Global Fraud Study” – Association of Certified Fraud Examiners)

Contact Ashley for more info

Ashley Sparks, CPA, CFE

In the time since Ashley joined Boyum Barenscheer in 2015, she has become a leader in the audit department. From being an active member of the firm’s recruitment team, conducting training of new staff and directing teams through audits, her strong leadership skills are always in view of the firm and clients. Ashley leads teams in audit, internal control and fraud prevention engagements in a variety of industries…