How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
IRS ETAAC committee report on ID theft and refund fraud
The IRS Electronic Tax Administration Committee (ETAAC) has released its annual report to Congress, featuring recommendations focused on the prevention of identity theft and refund fraud. The report groups a total of 10 recommendations into three sections: enabling and expanding the IRS-sponsored Security Summit, improving security in key areas of the tax system and protecting and enabling taxpayers.