Warning signs of fraud and actions that can be taken to counter the risks.
Good non-execs provide a considered, independent and external perspective. Often they bring in specific expertise from outside the board’s immediate experience and their skills can vary from financial knowledge through to IT. When their comfort factor “goes south” or when they have a “bee in the bonnet” about something that does not add up or make sense, they often have good reason to worry. So must you.
ACTION: It is always good for the business to maintain a fresh supply of new thinking, new approaches and new concerns. Thus if non-execs have concerns about particular issues, one should fund their thinking by allowing them to bring in the appropriate specialist experts who can investigate matters more deeply.