Appendix 7 A 16 step fraud prevention plan
1
Consider fraud risk as an integral part of your overall corporate risk-management strategy.
2
Develop an integrated strategy for fraud prevention and control.
3
Develop an ownership structure from the top to the bottom of the organisation.
4
Introduce a fraud policy statement.
5
Introduce an ethics policy statement.
6
Actively promote these policies through the organisation.
7
Establish a control environment.
8
Establish sound operational control procedures.
9
Introduce a fraud education, training and awareness programme.
10 Introduce a fraud response plan as an integral part of the organisation’s contingency plans. 11 Introduce a whistle-blowing policy. 12 Introduce a reporting hotline. 13 Constantly review all anti-fraud policies and procedures. 14 Constantly monitor adherence to controls and procedures. 15 Establish a learn from experience group. 16 Develop appropriate information and communication systems.
Source: Defence Mechanism, Financial Management, September 2002
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