To Study the Detect & Overcomes the Problem in Project Finance

The reputation of a business may suffer greatly as a result of a fraud probe. This may jeopardise the company’s profitability, share price, and growth prospects. For construction firms, fraud is a major concern. Construction expenses rise dramatically as a result of corruption, which includes bribery, embezzlement, and fraud. Due to its very nature, the construction industry is among the riskiest when it comes to internal fraud. Thus, to control the fraud risk in a construction company, a robust system for fraud prevention, detection, and reaction is required. The purpose of this study was to analyze fraud risk management, determine what factors lead to fraud, and provide a framework for managing fraud in a construction organization. Adopting a case study methodology in a construction company, this study employed qualitative methods to analyze secondary data from a literature review as well as primary data from observations and interviews. This research produced three results: a study of the causes of fraud, an assessment of the maturity of fraud risk management, and a fraud risk management framework for a construction company. The fraud triangle theory was used to identify the cause of fraud risks, the fraud risk management maturity model to determine the level of fraud risk management maturity, and the fraud risk management concept to develop a fraud risk management framework.