{"id":37985,"date":"2024-02-20T06:02:33","date_gmt":"2024-02-20T06:02:33","guid":{"rendered":"https:\/\/www.process.st\/templates\/fraud-risk-assessment-template-pwc\/"},"modified":"2024-03-05T17:16:50","modified_gmt":"2024-03-05T17:16:50","slug":"fraud-risk-assessment-template-pwc","status":"publish","type":"post","link":"https:\/\/www.process.st\/templates\/fraud-risk-assessment-template-pwc\/","title":{"rendered":"Fraud Risk Assessment Template PwC"},"content":{"rendered":"\n<section id=\"identify-the-scope-of-the-fraud-risk-assessment\"> \n <h2>Identify the scope of the Fraud Risk Assessment<\/h2>\n <div class=\"text-content\">\n   In this task, you will determine the boundaries and extent of the Fraud Risk Assessment. Identify the departments, processes, and activities that will be included in the assessment. Consider any restrictions or limitations that may impact the scope. What are the key areas of the organization that should be included in the assessment? Are there any specific processes or activities that should be considered? How will the assessment help the organization in managing fraud risks? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Key areas of the organization <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Specific processes or activities <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n <div class=\"select-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Assessment impact <\/label> <select disabled class=\"form-control\"> <option value=\"An option will be selected here\">An option will be selected here<\/option> <\/select> \n  <\/div> \n  <ul class=\"items\"> \n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       1 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Significantly improve fraud risk management \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       2 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Provide insights for better decision making \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       3 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Comply with regulations and standards \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       4 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Identify areas of improvement \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       5 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Enhance stakeholder confidence \n    <\/div> <\/li> \n  <\/ul> \n <\/div> \n<\/section> \n<section id=\"define-the-objectives-of-the-risk-assessment\"> \n <h2>Define the objectives of the Risk Assessment<\/h2>\n <div class=\"text-content\">\n   In this task, you will establish the goals and objectives of the Fraud Risk Assessment. Clearly define what the organization aims to achieve through this assessment and the desired outcomes. What are the specific goals that the organization wants to achieve through the assessment? How will the outcomes of the assessment contribute to the overall risk management strategy? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Specific goals of the assessment <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Desired outcomes of the assessment <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"identify-and-understand-the-organizations-processes\"> \n <h2>Identify and understand the organization's processes<\/h2>\n <div class=\"text-content\">\n   In this task, you will identify and gain a comprehensive understanding of the organization's processes. Analyze and document the key processes involved in the organization's operations. What are the main processes that drive the organization's operations? How do these processes interact with each other? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Key processes of the organization <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"identify-the-potential-risks-associated-with-these-processes\"> \n <h2>Identify the potential risks associated with these processes<\/h2>\n <div class=\"text-content\">\n   In this task, you will identify the potential risks that are associated with the organization's processes. Consider both internal and external factors that could pose a risk to the organization's objectives. What are the potential risks that could arise from the identified processes? How can these risks impact the organization's objectives? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Potential risks associated with processes <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"determine-the-impact-of-these-risks-on-the-organization-and-its-processes\"> \n <h2>Determine the impact of these risks on the organization and its processes<\/h2>\n <div class=\"text-content\">\n   In this task, you will evaluate the potential impact of the identified risks on the organization and its processes. Assess the likelihood and severity of each risk and determine the level of impact. What is the likelihood of each identified risk occurring? What is the potential severity or impact of these risks on the organization and its processes? \n <\/div> \n <div class=\"select-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Likelihood of occurrence <\/label> <select disabled class=\"form-control\"> <option value=\"An option will be selected here\">An option will be selected here<\/option> <\/select> \n  <\/div> \n  <ul class=\"items\"> \n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       1 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      High \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       2 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Medium \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       3 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Low \n    <\/div> <\/li> \n  <\/ul> \n <\/div> \n <div class=\"select-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Severity of impact <\/label> <select disabled class=\"form-control\"> <option value=\"An option will be selected here\">An option will be selected here<\/option> <\/select> \n  <\/div> \n  <ul class=\"items\"> \n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       1 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      High \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       2 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Medium \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       3 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Low \n    <\/div> <\/li> \n  <\/ul> \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Potential impact on organization <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"evaluate-the-existing-controls-and-their-effectiveness-in-mitigating-these-risks\"> \n <h2>Evaluate the existing controls and their effectiveness in mitigating these risks<\/h2>\n <div class=\"text-content\">\n   In this task, you will assess the effectiveness of the existing controls in mitigating the identified risks. Evaluate the controls currently in place and determine their adequacy. What controls are currently implemented to mitigate the identified risks? How effective are these controls in reducing the likelihood or impact of the risks? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Existing controls implemented <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"comparison-of-recurring-fraud-risks-and-changes\"> \n <h2>Comparison of recurring fraud risks and changes<\/h2>\n <div class=\"text-content\">\n   In this task, you will compare the recurring fraud risks identified in previous assessments with the current risks. Determine any changes or new risks that have emerged. What recurring fraud risks have been identified in previous assessments? Have there been any changes or new risks since the previous assessment? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Recurring fraud risks <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Changes or new risks <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"articulate-the-risk-tolerance-of-the-organization\"> \n <h2>Articulate the risk tolerance of the organization<\/h2>\n <div class=\"text-content\">\n   In this task, you will define and articulate the organization's risk tolerance. Establish the level of risk the organization is willing to accept. What level of risk is the organization willing to accept? How will the risk tolerance impact the decision-making process and risk management strategies? \n <\/div> \n <div class=\"select-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Risk tolerance level <\/label> <select disabled class=\"form-control\"> <option value=\"An option will be selected here\">An option will be selected here<\/option> <\/select> \n  <\/div> \n  <ul class=\"items\"> \n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       1 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      High \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       2 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Medium \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       3 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Low \n    <\/div> <\/li> \n  <\/ul> \n <\/div> \n<\/section> \n<section id=\"approval-key-stakeholders-for-identified-risks\"> \n <h2>Approval: Key Stakeholders for identified risks<\/h2>\n <div class=\"approval-content\"> \n  <div class=\"header\"> \n   <div class=\"list-title\">\n    Will be submitted for approval:\n   <\/div> \n  <\/div> \n  <div class=\"approval-rule-subject-tasks-list\"> \n   <ul class=\"list\"> \n    <li> \n     <div class=\"approval-rule-subject-tasks-list-item\"> \n      <div class=\"item\"> \n       <div class=\"container\"> <span class=\"title\">Identify the potential risks associated with these processes<\/span> \n        <div class=\"body\">\n         Will be submitted\n        <\/div> \n       <\/div> \n      <\/div> \n     <\/div> <\/li> \n   <\/ul> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"design-a-custom-fraud-risk-management-strategy\"> \n <h2>Design a custom fraud risk management strategy<\/h2>\n <div class=\"text-content\">\n   In this task, you will develop a custom fraud risk management strategy tailored to the organization's specific needs. Design an effective strategy to address the identified risks. What specific measures and actions will be included in the fraud risk management strategy? How will the strategy align with the organization's goals and objectives? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Fraud risk management measures <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"formulate-an-action-plan-to-manage-these-risks\"> \n <h2>Formulate an action plan to manage these risks<\/h2>\n <div class=\"text-content\">\n   In this task, you will create a detailed action plan to manage the identified risks. Outline the steps, responsibilities, and timelines for implementing risk mitigation measures. What specific actions need to be taken to manage the identified risks? Who will be responsible for each action? What is the timeline for implementing these actions? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Risk management actions <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"formalize-the-fraud-risk-assessment-report\"> \n <h2>Formalize the Fraud Risk Assessment report<\/h2>\n <div class=\"text-content\">\n   In this task, you will formalize the Fraud Risk Assessment report. Compile all the findings, analysis, and recommendations into a comprehensive report for review. What information and data should be included in the Fraud Risk Assessment report? How should the report be structured and organized for easy understanding and reference? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Key contents of the report <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"approval-key-stakeholders-for-report\"> \n <h2>Approval: Key Stakeholders for report<\/h2>\n <div class=\"approval-content\"> \n  <div class=\"header\"> \n   <div class=\"list-title\">\n    Will be submitted for approval:\n   <\/div> \n  <\/div> \n  <div class=\"approval-rule-subject-tasks-list\"> \n   <ul class=\"list\"> \n    <li> \n     <div class=\"approval-rule-subject-tasks-list-item\"> \n      <div class=\"item\"> \n       <div class=\"container\"> <span class=\"title\">Formalize the Fraud Risk Assessment report<\/span> \n        <div class=\"body\">\n         Will be submitted\n        <\/div> \n       <\/div> \n      <\/div> \n     <\/div> <\/li> \n   <\/ul> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"communicate-the-results-of-the-risk-assessment-to-all-relevant-parties\"> \n <h2>Communicate the results of the Risk Assessment to all relevant parties<\/h2>\n <div class=\"text-content\">\n   In this task, you will communicate the results of the Risk Assessment to all relevant parties. Share the findings, recommendations, and actions with stakeholders to ensure transparency and alignment. Who are the relevant parties that should be informed about the results? How will the information be communicated and disseminated? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Relevant parties to be informed <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"implement-the-action-plan-and-manage-risks-in-accordance-with-the-strategy\"> \n <h2>Implement the action plan and manage risks in accordance with the strategy<\/h2>\n <div class=\"text-content\">\n   In this task, you will implement the action plan and manage risks in accordance with the fraud risk management strategy. Execute the planned actions and monitor the effectiveness of risk management measures. How will the action plan be implemented? How will the progress and effectiveness of risk management measures be monitored? \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Implementation of action plan <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"monitor-and-regularly-update-the-fraud-risk-assessment\"> \n <h2>Monitor and regularly update the Fraud Risk Assessment<\/h2>\n <div class=\"text-content\">\n   In this task, you will regularly monitor and update the Fraud Risk Assessment. Review the effectiveness of the risk management measures and make necessary adjustments. How frequently should the Fraud Risk Assessment be reviewed and updated? What factors or triggers should prompt a review? \n <\/div> \n <div class=\"select-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Review frequency <\/label> <select disabled class=\"form-control\"> <option value=\"An option will be selected here\">An option will be selected here<\/option> <\/select> \n  <\/div> \n  <ul class=\"items\"> \n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       1 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Monthly \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       2 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Quarterly \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       3 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Annually \n    <\/div> <\/li> \n  <\/ul> \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Review triggers <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"schedule-the-next-fraud-risk-assessment\"> \n <h2>Schedule the next Fraud Risk Assessment<\/h2>\n <div class=\"text-content\">\n   In this task, you will schedule the next Fraud Risk Assessment. Determine the appropriate timing and frequency for future assessments. When should the next Fraud Risk Assessment be conducted? How often should the assessments be conducted to ensure ongoing monitoring and mitigation of fraud risks? \n <\/div> \n <div class=\"date-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Next assessment date <\/label> \n   <div class=\"date-container\"> <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button> \n   <\/div> \n  <\/div> \n <\/div> \n <div class=\"select-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Assessment frequency <\/label> <select disabled class=\"form-control\"> <option value=\"An option will be selected here\">An option will be selected here<\/option> <\/select> \n  <\/div> \n  <ul class=\"items\"> \n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       1 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Annual \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       2 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Bi-annual \n    <\/div> <\/li>\n   <li class=\"item\"> \n    <div class=\"step-number-container\"> \n     <div class=\"step-number\">\n       3 \n     <\/div> \n    <\/div> \n    <div class=\"step-checkbox-container\"> \n     <div class=\"step-checkbox\"><\/div> \n    <\/div> \n    <div class=\"item-name-static\">\n      Every 3 years \n    <\/div> <\/li> \n  <\/ul> \n <\/div> \n <div class=\"textarea-field-content form-field-content\"> \n  <div class=\"form-group\"> <label> Reasoning behind the assessment frequency <\/label> <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea> \n  <\/div> \n <\/div> \n<\/section> \n<section id=\"approval-next-assessment-schedule-by-key-stakeholders\"> \n <h2>Approval: Next Assessment Schedule by Key Stakeholders<\/h2>\n <div class=\"approval-content\"> \n  <div class=\"header\"> \n   <div class=\"list-title\">\n    Will be submitted for approval:\n   <\/div> \n  <\/div> \n  <div class=\"approval-rule-subject-tasks-list\"> \n   <ul class=\"list\"> \n    <li> \n     <div class=\"approval-rule-subject-tasks-list-item\"> \n      <div class=\"item\"> \n       <div class=\"container\"> <span class=\"title\">Schedule the next Fraud Risk Assessment<\/span> \n        <div class=\"body\">\n         Will be submitted\n        <\/div> \n       <\/div> \n      <\/div> \n     <\/div> <\/li> \n   <\/ul> \n  <\/div> \n <\/div> \n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Identify the scope of the Fraud Risk Assessment In this task, you will determine the boundaries and extent of the Fraud Risk Assessment. Identify the departments, processes, and activities that will be included in the assessment. Consider any restrictions or limitations that may impact the scope. 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