Fraud is ever evolving and in our world, there are always new and changing ways for fraud to occur. This course reviews the connection between fraud and the control environment as well as the concepts of the fraud triangle and fraud diamond. We then delve deeply into the concept of creating a fraud risk maturity model to help organizations assess their current capabilities towards fraud.

The Capability Maturity Model is a development model created in 1986 after a study of data collected from organizations that contracted with the U.S. Department of Defense, who funded the research. The maturity model concept has long been used o evaluate various processes. It is a tool that businesses use to measure how well their business or project is doing and how capable they are of continuous improvement. It can be an effective tool to assist organizations in evaluating their fraud mitigation methods.