Developing an anti-fraud culture is crucial in the fight against fraud. A fraud policy is an important tool used to communicate an organization's position, and processes, when it comes to fraud. It outlines what will happen if fraud does strike. Does your organization need one? Can your organization operate without one? What if fraud did strike and you weren't prepared? Don't think it can't happen. Fraud does not discriminate.
Let's break it down so thinking about it doesn't hurt quite so much! Excuses! We've heard them all. "An ethics reporting system is WAY too expensive." "An ethics reporting system isn't a priority right now." "Ugh, too much work..." Here's the thing. It's actually quite simple really. Companies may be thinking about hotlines, web portals. Then there's mail! What about faxing?
How do experiences transform a company culture? A recent post in Forbes caught my eye. It's titled 4 Types Of Experiences That Define Your Company Culture, And How To Improve Them. The author talks about 'experiences that occur within on organization support certain beliefs. Those believes lead to specific actions which in turn drive results. For better or for worse.' This is based on a book called "The Results Pyramid" that explains that the four components of the pyramid are experiences, beliefs, actions and results.
That's right. A 'Webster's' version if you will A few years ago, Ernst & Young's Fraud Investigation and Dispute Services Practice collaborated with the FBI using specialist software to identify more than 3,000 phrases and terms in emails.
The ethics hotline is there for a very good reason You've witnessed verbal or physical abuse at your work. You think a manager and an employee are getting a wee bit too close. Your very limited financial knowledge is leaving you with questions about the current revenue... you know something is off. What do you do if you happen to come across something questionable? Your gut tells you something is wrong, but you feel you don't have enough knowledge or information to actually let anybody know it's happening.