2.4.2. Maturity Level 4
| No: 000044021528 | Date(g): 11/10/2022 | Date(h): 16/3/1444 |
Effective from Oct 11 2022 - Oct 10 2022
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To achieve maturity level 4, Member Organisations should periodically measure and evaluate the effectiveness of the Counter-Fraud controls implemented to achieve maturity level 3. In order to measure and evaluate whether the Counter-Fraud controls are effective, Key Risk Indicators (KRIs) should be defined. A KRI indicates the norm for effectiveness measurement and should define thresholds to determine whether the actual result of measurement is below, on, or above the targeted norm. KRIs are used to monitor a potential increase in fraud risk exposure and allow actions to be taken to mitigate the risk before an increase in fraud cases occurs.