AlRaqaba 17 E - page 104

102 ALRAQABA . ISSUE 15
• abuse auditing to prepare them for step 8
• Step8: Develop a Fraud Risk Management Framework
• Step 9: Review, share, and collect input on the framework.
• Step10: Perform a pilot study, using the framework to audit a selected area.
• Step11: Identify gaps and improve the framework.
• Step12: Study other countries’ experiences using similar frameworks and dedicated Forensic
Audit and Investigative units to reduce fraud in federal programs
• Establish a Forensic Audit and Investigative Services department and conduct peer reviews for
exchange of knowledge and continuous improvement.
Conclusion
Fraud costs everyone! It is a crime and threatens everyone regardless of their education, age
or income. This strategy paper aimed to achieve six objectives in the State Audit Bureau by
implementing the suggested strategy plan. The main focus of this strategy paper was to provide
SAB with an approach that may reduce fraud and embezzlement in Kuwait’s petroleum industry. The
GAO case study illustrates the importance of having a high-risk list to highlight “red flag” areas that
could be vulnerable to fraud, waste, and abuse. This could create awareness, bring attention to the
issue, and help prevent fraud, waste, and abuse.
References:
• http://www.acfe.com/press-release.aspx?id=4294973129
• https://content.next.westlaw.com/Document/
I466099551c9011e38578f7ccc38dcbee/
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• https://www.export.gov/article?id=Kuwait-Oil-and-Gas
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• https://www.knpc.com
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annualreports.aspx
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annualreports.aspx
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•http://www.arabtimesonline.com/news/price-of-diesel -
kerosene-set-to-rise-in-september/
•https://www.gao.gov/assets/690/682765.pdf
• GAO, Oil and Gas Resources: Interior’s Production
Verification Efforts and Royalty Data Have Improved, but
Further Actions Needed, GAO-15-39: Apr 7, 2015 https://
www.gao.gov/products/GAO-15-39
•https://www.gao.gov/highrisk/overview#t=1
• B.Reinsbery, GAOs high-risk program, April,12,2018
•https://www.gao.gov/highrisk/overview#t=1
• B.Reinsbery, GAOs high-risk program, April,12,2018
•https://www.gao.gov/products/GAO-17-317
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