Combating Fraud
“Combating fraud before it occurs is vital to the survival of any business. Organizations should take the opportunity to consider, enact and improve measures to detect, deter and prevent fraud before it occurs. A combined effort must be made by the board of directors, the audit committee, internal and external auditors, risk management personnel, investigators, operations personnel and others to manage the risk of fraud.” ACFE Inc
We should create an environment that imprints in the minds of all stakeholders the organisations abhorrence of fraudulent activities and tendencies. We should have in place Code of Ethics and Fraud Policy that serves as a guide to all staff. Checks and balances as well as internal controls should be institutionalised. The Leadership must set the right tone at the top as employees apart from reading and hearing the position of management, need to also see that management is committed through its actions.