Fraud risk assessment examines the fraud triangle elements of pressure, opportunity, and rationalization to identify scenarios where assets could be misappropriated or financial statements manipulated. Assessments consider control weaknesses, unusual transactions, management override capabilities, and cultural factors that may enable fraud. The Wirecard accounting scandal demonstrated how inadequate fraud risk assessment and audit skepticism allowed systematic financial manipulation to persist for years. Effective assessments involve interviewing personnel across organizational levels, analyzing historical fraud incidents, and testing high-risk processes. Anti-fraud controls address both prevention through segregation of duties and detection through anomaly monitoring.