Fraud risks are a common type of risk that every company faces. It can bring a devastating impact for both business and public, from draining financial resources to a damaged reputation. When the risk is overlooked, it can put the company in a vulnerable situation. Measure your company\u2019s fraud health by answering the following simple yet powerful questions:<\/p>\n
Does your organization establish a process for oversight of fraud risks (e.g., an audit committee)?<\/p>\n<\/li>\n
Does your organization communicate to business unit managers that they are responsible for managing fraud risks within their area?<\/p>\n<\/li>\n
Does your organization implement a regular identification of the significant fraud risks?<\/p>\n<\/li>\n
Does your organization have a policy on how to manage fraud risks?<\/p>\n<\/li>\n
Does your organization give clear guidance on what behavior and actions are permitted based on its core values and which ones are prohibited?<\/p>\n<\/li>\n
Does your organization conduct regular training for all personnel upon hiring and thereafter, concerning the code of conduct, seeking advice and communicating potential wrongdoing?<\/p>\n<\/li>\n
To what extent has your organization approved tolerance for different types of fraud risks?<\/p>\n<\/li>\n
Does your organization provide an open communication for employees who seek advice when faced with uncertain ethical decisions and communicate their concerns about known or potential wrongdoing?<\/p>\n<\/li>\n<\/ul>\n
Companies that have appropriate anti-fraud controls in place will more likely to handle fraud better. By being aware of the gaps and taking preventive actions, companies have a chance to fix the problem before becoming a victim of a major fraud. Remember that prevention is always better than cure.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fraud risks are a common type of risk that every company faces. It can bring a devastating impact for both business and public, from draining financial resources to a damaged reputation. When the risk is overlooked, it can put the company in a vulnerable situation. Measure your company\u2019s fraud health by answering the following simple […]<\/p>\n","protected":false},"acf":[],"featured_image_url":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-content\/uploads\/sites\/4\/logo.svg","_links":{"self":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/posts\/1331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/comments?post=1331"}],"version-history":[{"count":1,"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/posts\/1331\/revisions"}],"predecessor-version":[{"id":8814,"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/posts\/1331\/revisions\/8814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/media\/8815"}],"wp:attachment":[{"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/media?parent=1331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/categories?post=1331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cms-corporate.integrity-asia.com\/ms\/wp-json\/wp\/v2\/tags?post=1331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}