Quick Read

ISO 37004 provides a structured framework for organisations to govern fraud risks through prevention, detection and response mechanisms, with independent assurance demonstrating to boards and regulators that controls operate effectively in practice. Speeki delivers end-to-end assurance services—from gap analysis and capability building through to independent assessment of system design and operating effectiveness—helping organisations establish and maintain fraud control management systems aligned with the standard. This structured approach enables organisations to manage fraud-related policies and controls consistently as they scale and risk profiles evolve.

Use case

How Speeki helps organisations build and assure fraud control management systems under ISO 37004

Fraud remains a significant risk for organisations across sectors, creating financial losses, reputational damage and regulatory exposure. ISO 37004 provides guidance on establishing and maintaining an effective fraud control management system covering governance, prevention, detection and response.

Speeki works with organisations to build, assess and assure fraud control management systems aligned with ISO 37004. Speeki combines deep subject-matter expertise with a structured assurance approach that supports organisations from initial assessment through to independent assurance and ongoing review.

Why this matters

Organisations are expected to demonstrate that fraud risks are identified, monitored and reviewed over time. Stakeholders – including boards, regulators and investors – want assurance that fraud controls are not only documented but operating effectively in practice.

Without a structured system, fraud-related policies, controls and reviews are often difficult to manage consistently, particularly as organisations grow and risk profiles change.

What ISO 37004 covers

ISO 37004 provides guidance on fraud control management systems, focusing on governance, prevention, detection and response. Key elements include:

  • a fraud control policy and supporting procedures

  • identification and assessment of fraud risks

  • defined roles, responsibilities and oversight

  • preventive and detective controls

  • monitoring, review and internal audit activities

  • corrective actions and continuous improvement.

Managing these elements consistently requires a structured approach backed by independent assurance.

How Speeki supports fraud control management under ISO 37004

Speeki provides end-to-end assurance services for fraud control management systems aligned with ISO 37004, from initial assessment through to independent assurance and ongoing review.

Gap analysis and readiness assessment

Speeki conducts structured gap analyses to assess existing fraud control arrangements against ISO 37004 guidance. This identifies what is already in place, what needs to be developed and where the most significant fraud risks lie. Readiness assessments before formal reviews help organisations resolve issues early and enter assurance engagements with confidence.

Training and capability building

Speeki delivers training programmes covering fraud risk assessment, control design, investigation protocols and the requirements of ISO 37004. Training is designed to build practical capability across compliance, internal audit, finance and operational teams, using real-world examples and applied exercises.

Independent assurance

Speeki conducts independent assurance engagements to assess the design and operating effectiveness of the fraud control management system. This includes documentation reviews, personnel interviews, control testing and evidence examination. Assurance engagements provide organisations with an independent view of whether their fraud controls are operating as intended.

Ongoing review and improvement

Fraud risks evolve as organisations change, enter new markets and adopt new technologies. Speeki provides periodic reassessments to confirm that fraud control arrangements remain aligned with ISO 37004 guidance and continue to reflect the organisation’s current risk profile.

Ongoing Assurance Intelligence™

Every Speeki assurance engagement includes access to Assurance Intelligence™, which provides organisations with compounding value across assurance cycles. This includes year-to-year trend analysis to track maturity progression and recurring patterns, scenario-based outcomes for strategic planning and risk mitigation, and anonymised benchmarking to compare performance against peer organisations. Assurance Intelligence remains descriptive, predictive and scenario-based, with no advisory recommendations, preserving the independence of the assurance relationship.

Outcomes for organisations

Working with Speeki to build and assure a fraud control management system under ISO 37004 helps organisations achieve:

  • a clearly documented and independently reviewed fraud control framework

  • improved oversight of fraud risks and the effectiveness of controls

  • structured gap analysis and readiness support that reduces assurance risk

  • practical training that builds internal capability across functions

  • year-to-year intelligence that compounds value across assurance cycles

  • confidence in alignment with ISO 37004 guidance.

About Speeki

Speeki is an independent assurance company helping organisations worldwide turn their compliance, sustainability and ESG initiatives into a competitive advantage.

Speeki combines subject-matter expertise and structured audit methodologies to deliver assurance engagements that support long-term governance maturity.

Want to discuss how Speeki can support your fraud control programme?

Contact us to learn more about our assurance services or to request an initial consultation.