Fraud Prevention Tip #19: The Importance of Effective Screening

Fraud Prevention Tip #19: The Importance of Effective Screening

Terry’s hand shot up. “I’ve heard our internal auditors talk about the need for ‘effective screening’ for years – but no one seems willing to go into detail about what it means. What should I be doing? What specific actions should I take?” Great questions from a truly concerned supervisor. So let’s break it down […]

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Internal Control

Fraud Prevention Tip #17: Solid Internal Control Procedures

An interesting conversation last evening with four anti-fraud professionals I’ve known for years. One discussion question, “Do internal controls prevent fraud?” The consensus answer: some controls prevent some fraud sometimes! Let me explain. Anti-fraud controls are based on a two-step process. First, a meaningful comprehensive fraud risk assessment is the foundation. If done properly, this […]

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Busy Middle Managers

Fraud Prevention Tip #16: Avoid Common Mistakes

Over and over, year after year I see the same anti-fraud mistakes. Leaders are willing. They take the correct first steps to fight fraud. They speak the right words and make the right initial commitment to get anti-fraud efforts off the ground. Then they trip themselves up and undermine their own efforts by making the […]

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fraud risk assessment

Fraud Prevention Tip #14: Perform a Useful Fraud Risk Assessment

At least twice every week, a seminar participant will ask about how to conduct a useful fraud risk assessment. Here’s why. Starting with the Sarbanes-Oxley Act in 2002, regulatory initiatives have suggested or required organizations to perform a ‘fraud risk assessment’. Unfortunately, there’s minimal guidance out there on exactly what’s involved and how far to […]

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Lead by Example

Fraud Prevention Tip #9: Every Executive, Manager and Supervisor Must Lead by Example

In building an anti-fraud culture, clear strong policies are important. But policies without consistent daily example by leaders will leave employees, suppliers and others confused when making critical decisions. Here are four attributes of leading by example. 1. You protect your signature and everyone knows it. Before you approve any transaction, you spot check details, […]

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