Fraud risk assessment complete
Assessment will help us protect you and your resources
As your cooperative, PEC is committed to protecting you and your resources. In accordance with our 2015 goal to ensure the implementation and execution of policies to effectively detect and manage risk within and without the cooperative, we have completed a Fraud Risk Assessment (FRA) with independent contractors Jackson Thornton & Co., P.C.
The FRA project began in October 2016. Over the course of the project, the FRA team met with employees in every district and business office, and interviewed more than 100 employees. The team also assessed over 971,000 line items, surveyed 720 employees, and performed an Information Technologies (IT) assessment. The testing included over 400 procedures.
Last month, the board received the completed FRA report, and while no fraud activity was identified, the FRA identified areas that needed additional risk mitigation. PEC is now taking action to properly address that need.
“We are firmly committed to remaining vigilant and proactive to protect our members’ resources,” PEC Board President and District 2 Director Emily Pataki said. “PEC is proud to serve our community from a place of strength and integrity.”