Fraud prevention program

Description

Just because you can’t see fraud doesn’t mean that it doesn’t exist. Just because an entity hasn’t suffered any losses to date doesn’t mean that it is immune to losses caused by fraud.

On any given day, fraudulent conduct by employees and third parties exposes most companies to the risk of financial loss, damage to their reputation, departure of their best employees, litigation and, most importantly, unsustainability of their business. Non-existing or inadequate measures and controls may affect a company’s ability to successfully compete and may jeopardize its market position. As prevention is the most effective way to fight fraud, the introduction of a prevention program should be an essential component of corporate governance.

Our procedures

Our extensive experience in fraud detection and investigation allows us to create an effective corporate anti-fraud program. This prevention program consists of a set of measures to prevent the occurrence of fraud and mitigate its impacts.

Before the actual design of a prevention program, the fraud risks at your organization first need to be assessed. According to the fraud risks identified and the objectives of the prevention program, we create a set of controls, policies and company processes to identify, mitigate and prevent fraud. To ensure that the program is successfully put in place, we offer our clients support services during its implementation and operation.

Our fraud prevention program includes:

• Fraud risk analysis within the organization
• Preventative data testing
• Design and implementation of internal policies, controls and processes to prevent fraud, including investigation procedures, corporate governance rules and ethical corporate culture
• Employee training program on fraud identification and prevention
• Introduction of a whistle-blowing system
• Creation of fraud identification and prevention reporting