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Fraud prevention and control
Every two years, ARPC reviews and updates the ARPC Fraud Control Policy and underlying fraud risk assessments. The Fraud Control Policy allocates responsibilities for fraud risk management and control among the Audit and Compliance Committee, the CEO, ARPC management and staff. The Policy outlines legislative and governance requirements, and is framed around key fraud control strategies:
- response, and
- monitoring, evaluation and reporting.
The Fraud Control Policy complies with requirements under section 10 of the PGPA Rule, which provides the minimum standard for the management of risk and incidents of fraud by accountable authorities (the Board). ARPC staff were provided with training in compliance with the Fraud Control Policy and the PGPA Rule.