What is actual loss in SAP GRC-BIS - SAP Business Integrity Screening?

SAP Term: actual loss

• Component: GRC-BIS

• Component Name: SAP Business Integrity Screening

• Description: In the loss-based approach to evaluating fraud, this would be the amount of money lost due to a fraud. Example: If you detect a fraud that costs 400 euro, but you have to spend 1000 euro to investigate the fraud; the actual loss is the 400, opportunity cost is 1000.

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• Key Concepts: 
  Actual loss is a term used in SAP Business Integrity Screening (GRC-BIS) to refer to the amount of money that has been lost due to fraudulent activities. It is calculated by subtracting the amount of money that was recovered from the total amount of money that was lost. 
  
  How to use it: 
  Actual loss is used to measure the financial impact of fraudulent activities on an organization. It can be used to identify areas where fraud prevention measures need to be improved and to assess the effectiveness of existing fraud prevention measures. 
  
  Tips & Tricks: 
  When calculating actual loss, it is important to consider all costs associated with the fraud, including legal fees, investigation costs, and any other costs incurred as a result of the fraud. 
  
  Related Information: 
  Actual loss is one of several metrics used in SAP Business Integrity Screening (GRC-BIS) to measure the financial impact of fraudulent activities. Other metrics include estimated loss, potential loss, and total cost of fraud.