Start by recognising that you could be vulnerable. A mix of the right policies and procedures can help to minimise your risk.
in which honesty and integrity are paramount and dishonesty will be dealt with appropriately.
Recruitment policies should include reference checks and background screening.
Put in place sensible supervisory controls including segregation of duties, proper authorisation processes and management review. Carry out surprise checks and investigate when you suspect fraud.
Review the performance of your business and follow up unexpected variations: eg lower than expected gross profit margin and above budget expenditure could be due to fraudulent activity.
Educate your employees about fraud, its impact on the business and how they can help prevent it. Create a culture where staff can raise concerns about suspected or actual fraud and encourage open dialogue. Enforce mandatory holidays and rotate jobs if practicable.
If you would like to talk about what you can do to help reduce your exposure to fraud, please get in touch for a confidential discussion about how we can help.