AS 8001-2021

Description

AS 8001 – 2021 Edition – Fraud and corruption control

AS 8001 provides minimum requirements and additional guidance for organizations wishing to develop, implement and maintain an effective fraud and corruption control system (FCCS) incorporating —

(a) prevention of internal and external fraud and corruption including fraud and corruption against and by the organization;
(b) early detection of fraud and corruption in the event that preventative strategies fail; and
(c) effective response to fraud and corruption events in ways that achieve optimal outcomes for the organization including the recovery of the organization’s property or the award of compensation to an equivalent value.

The aim of such a system is to control the risks of fraud and corruption against the organization (i.e. where the organization is the target or intended target) as well as fraud and corruption committed by or in the name of the organization (i.e. where fraud or corruption is committed by an organization or by a person or persons purporting to act on the organization’s behalf or in the organization’s economic interest).

AS 8001 addresses both internal and external fraud and corruption.

AS 8001 does not address fraud against the individual, including consumer fraud.

NOTE This standard makes no distinction between technology-enabled fraud and corruption and fraud and corruption that are less reliant on technology, as the majority of frauds and many forms of corruption will involve technology to a greater or lesser degree. However, the distinction between internal and external fraud and corruption remains useful.

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