Ten Early Warning Signs of Fraud in Organizations - Slide 6

Email     |     Share  
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12
Next Ten Early Warning Signs of Fraud in Organizations-6 Next

Excuses, confusion or wild goose chases when disclosing to auditors, be they internal or external, can be a telltale sign too. We need to remember though that the audit team is not there to find fraud, rather to ensure that the correct processes are in place that will deliver appropriate protection.

ACTION: Ensure that everyone treats audits as important and make sure that they are completed on time and properly, and with appropriate audit skills. Where there have been delays or difficulties investigate why this was the case by drilling down into the detail. Make sure that the business critical and financial exposure areas take a priority and act upon all failings both quickly and completely; with follow-up audits if necessary.

Anti-fraud consultancy UKFraud.co.uk has published a list of 10 common early warning signs that could alert management that fraud may be occurring in their organization. The list draws upon UKFRAUD.co.uk’s substantial experience across an international client base, ranging from major financial institutions, public sector bodies and corporations to SMEs and non-profit making organizations. The list works on the assumption that whatever tools they use, be it IT-based cons and false accounting or other traditional scams, the warning signs are often the same. As UKFraud.co.uk believes that awareness of the signs and a sound approach to countering them can often deter many opportunistic incidents of fraud, it has published the list to help executives benchmark their own operations. Suggested actions that can be taken to counter the risk of fraud are given following each sign.

More Slideshows:


The Top 10 Strategic Technologies for 2012Use this list in your strategic planning for 2012.

Five iPad Apps for Remote WorkersiPad apps that work especially well when workers are on the go.

The 10 Things Every Business Should Know About B2B E-commerceTips to consider before adopting a B2B e-commerce platform.

 

Related Topics : HTC, Broadcom, Nortel, Data Loss Prevention, Mobile Search

 
More Slideshows

ClickSoftwareEnterpriseAR0x 5 Ways Pokémon GO Is Driving Augmented Reality in the Enterprise

With the consumerization of AR, it appears the technology is finally within arm's reach for those savvy enterprises willing to reach out and grab it. ...  More >>

AppleiPhone7-290x195 Apple Debuts iPhone 7 and Watch Series 2

Apple has announced the next generation of its popular smart devices, including the iPhone 7, iPhone 7 Plus and Watch Series 2. ...  More >>

mobile91-190x128 5 Best Practices for iOS Enterprise MDM

Adopting MDM best practices can result in less hassle in supporting employees, increased overall productivity and assurance that valuable company assets are secure. ...  More >>

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.