{"id":9653,"date":"2023-07-21T12:39:51","slug":"the-importance-of-code-of-ethics-training-in-anticipating-fraud","title":{"rendered":"The importance of code of ethics training in anticipating fraud"},"content":{"rendered":"

\"codeAccording to a Report to The Nation 2020 survey, a code of ethics plays a major role as an anti-fraud control that can prevent fraud, amounting to 81%. However, there are still many companies that do not realize how important it is in minimizing losses due to fraud. <\/span><\/p>\n

Thus, in many companies a code of ethics is only part of their regulations that are not disseminated to their employees – many small companies do not even have a code of ethics.<\/span><\/p>\n

A code of ethics is essential for a company. It serves as an internal guide as well as an external statement of the company’s values \u200b\u200band commitments. A well-written code of ethics defines the mission, values, \u200b\u200band principles of the organization and links them to standards of professional behavior. <\/span><\/p>\n

The code articulates the values \u200b\u200bthe organization seeks to support in both its employers and employees. It is a benchmark that can also be used to measure the performance of individuals and companies.<\/span><\/p>\n

In addition, a code of ethics can also be a form of risk management. It establishes ethical and moral standards in a company so that every employee and superior will be held accountable for all behaviors, especially behaviors that violate the code of ethics. A set of ethical standards documented in the code of ethics explains to the general public that the company is working in the public\u2019s interest. <\/span><\/p>\n

If the company is working transparently, it raises public trust and significantly reduces the possibility of internal scandal or corruption.<\/span><\/p>\n

Avoiding unethical business practices will not only help create a good reputation but also keep the company safe from litigation. Money scandals<\/a> and bad business practices can cause detrimental losses to a company. <\/span><\/p>\n

Therefore, it is necessary to have a code of ethics and its accompanying training for employees, especially to report actions that are inappropriate or violate the company\u2019s code of ethics.<\/span><\/p>\n

Integrity Indonesia, with more than fifteen years of experience in the compliance sector, has been trusted by clients as a provider of whistleblowing systems, Canary WBS<\/a>. Canary WBS allows secure activity reporting with a choice of anonymity level. Our service also provides training to empower employees to follow up on fraud cases. The training we provide is in the form of:<\/span><\/p>\n