This programme can run as an online or classroom training
(Available also for Customised Training by Duration, Venue & Fee)
What Fraud Is and What It Is Not
What behaviours are unacceptable
Errors and abuse.
The fraud-triangle theory
- sufficient pressure
- adequate opportunity
- ability to rationalize a dishonest act
Dispel what a fraud perpetrator looks like
- age groups
- income levels
- both genders.
How Fraud Hurts the Organization
Investments of time and money into investigation
A hit to the company’s reputation
Distorted company goals through financial engineering
Lowered employee morale.
How Fraud Hurts Employees
Increased employee scrutiny
Decreased trust throughout the organization
Possibility of decreased salaries
Possibility of loss of bonuses
Need to clean up after any mess created.
How to Identify Fraud
Financial/Transactional Red Flags
- red flags regarding the structure of or personnel involved in a transaction
- red flags within the organization’s operations
- red flags within the accounting system
- red flags regarding the organization’s financial performance
Behavioral Red Flags
- living beyond their means
- financial difficulties
- unwilling to share duties
- unusually close relationship with vendor/customer
- wheeler/dealer attitude
- addiction problems
- unwilling to take vacation days
- constant complaints about inadequate pay
- complaints about lack of authority.
How to Report Fraud
Most frauds uncovered by whistle blowing
Fraud deterrent designs
Punishments for Fraudulent Acts
Spelled out explicitly to all in advance
Addressed with certainty, swiftness, and severity.