Reducing Spear Phishing Risk Through Training
Development of
Competency Guideline for
the Loss Control Function
to address UIF&W
incurred by PFMA
Institutions
This Photo
by Unknown Author is licensed under
CC BY
Project Background
Potential and actual losses – 2018/19
[AGSA General report]
•
AGSA reports highlight UIF&W expenditure is on an
upward trajectory
•
Despite legislative requirements for AA/AO’s
•
Government cannot afford to lose money because:
•
Poor decision-making
•
Neglect
•
Inefficiencies
•
Continuous rise in UIF&W
•
Poor track record in dealing with UIF&W and
ensuring accountability
Project objectives
•
Outline processes, procedures, timeframes
•
Relevant legislation dealing with UIF&W
•
Step-by-Step flowchart
•
Minimum requirements in determining losses
•
Identification of fraudulent transactions
•
Recovery processes
•
Reporting of alleged and confirmed criminal acts
•
PowerPoint presentation for training purposes
Why do we need a guideline?
The guideline does not prescribe any new principle or procedure
related to identification, assessment, determination, investigation and
reporting of losses incurred due to non-condoned UIF&W and non-
compliance, but provides a consolidated approach to the process and
procedures in different instructions, frameworks and guidelines.
Procedures For The Treatment Of Debt
1
2
3
7
Determinatio
n
Investigatio
n
Calculation of
debt
Reporting
4
6
Write-off of
debt
Raising of
debtor
5
Recovery
Loss Control Function
•
Material Irregularity
•
Refer material irregularity
•
Take binding remedial action
•
Issue a certificate of debt
•
R
e
c
o
v
e
r
o
f
a
n
y
l
o
s
s
e
s
o
r
f
u
t
u
r
e
l
o
s
s
e
s
(
C
a
l
c
u
l
a
t
i
o
n
p
r
o
c
e
s
s
)
Irregular Expenditure Versus Material Irregularity
I
r
r
e
g
u
l
a
r
E
x
p
e
n
d
i
t
u
r
e
•
Irregular expenditure is all expenditure
where
•
There was non-compliance with
legislation in the
•
Process leading up to the payment.
M
a
t
e
r
i
a
l
I
r
r
e
g
u
l
a
r
i
t
y
•
Material irregularity
•
Also stems from non-compliance with
legislation,
•
But it has a broader scope and can be
applied to
•
Fraud and theft and to a breach of
fiduciary duty
Refer to the
Guide on Material
Irregularity
Importance of this Guideline
This guideline will provide:
-
a quick reference tool for the accounting officer’s or accounting
authorities to manage their responsibilities of the Loss Control
Function in relation to UIF&W and any identified MI’s
THANK YOU
To change the image on this slide, select the picture and delete it. Then click the Pictures icon in the placeholder to insert your own image.
Analyzing the effectiveness of phishing awareness and training programs in mitigating the risk associated with spear and regular phishing attacks targeting sensitive customer data stored internally. Results show a potential reduction in loss exposure through employee training, with estimated probabilities and strategies to enhance security against phishing threats.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Development of Competency Guideline for the Loss Control Function to address UIF&W incurred by PFMA Institutions
Project Background AGSA reports highlight UIF&W expenditure is on an Potential and actual losses 2018/19 upward trajectory [AGSA General report] Despite legislative requirements for AA/AO s Government cannot afford to lose money because: Poor decision-making Neglect Inefficiencies Continuous rise in UIF&W Poor track record in dealing with UIF&W and ensuring accountability
Project objectives Outline processes, procedures, timeframes Relevant legislation dealing with UIF&W Step-by-Step flowchart Minimum requirements in determining losses Identification of fraudulent transactions Recovery processes Reporting of alleged and confirmed criminal acts PowerPoint presentation for training purposes
Why do we need a guideline? The guideline does not prescribe any new principle or procedure related to identification, assessment, determination, investigation and reporting of losses incurred due to non-condoned UIF&W and non- compliance, but provides a consolidated approach to the process and procedures in different instructions, frameworks and guidelines.
Procedures For The Treatment Of Debt 6 4 5 Recovery 7 1 2 3 Write-off of debt Determinatio n Investigatio n Calculation of debt Raising of debtor Reporting
Loss Control Function Material Irregularity Refer material irregularity Take binding remedial action Issue a certificate of debt Recover of any losses or future losses (Calculation process)
Refer to the Guide on Material Irregularity Irregular Expenditure Versus Material Irregularity IrregularExpenditure Material Irregularity Irregular expenditure is all expenditure where Material irregularity Also stems from non-compliance with legislation, There was non-compliance with legislation in the But it has a broader scope and can be applied to Process leading up to the payment. Fraud and theft and to a breach of fiduciary duty
Importance of this Guideline This guideline will provide: - a quick reference tool for the accounting officer s or accounting authorities to manage their responsibilities of the Loss Control Function in relation to UIF&W and any identified MI s
