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The
Follow-up legal
action and/or
organizations Early fraud
resolution fight fraud by detection
implementing
Fraud
investigation
FRAUD PREVENTION
Fraud Prevention
The organizations also use several ways to create a culture of honesty and
high ethics.
Fraud Preventions (Cont): Five Critical Elements
Feel that, they would not get what they want, if they tell the truth
Fraud Prevention (Cont) Hiring the
Right Kind of Employees
Hiring the right employees is the second key element in creating a culture
of honesty and high ethics.
Proactive hiring procedures must be taken into considerations which
includes:-
Checking references
Ethical Courage
Willingness to Pay the Price for
Ethics
Giving
Identify and adequate
codify training to the
appropriate employees in
values and fraud
ethics awareness
Communicate
consistent
expectations about
the punishment of
violators to be taken
Fraud Prevention (Cont) Creating a
Positive Work Environment
Provides
Assess and improve
adequate training
the controls
to the employees
Communicates
with the entity
Fraud Prevention (Cont) Assessing
and Mitigating the Risk of Fraud
Implemen
Identify
t the
and
preventive
measure
and
the fraud
detective
risks
Creates controls
Having
the internal and
external
widesprea auditors to
d provide an
monitoring independent
checks on the
by the performance
employee of the
s company