Your SlideShare is downloading. ×
Preventing Fraud in your Workplace
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

Preventing Fraud in your Workplace

620
views

Published on

Published in: Business, Career

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
620
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
10
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Preventing Fraud in your Workplace
  • 2. Preventing fraud in your workplace Introduction • Over the past couple of years, the public’s attention has been captured by cases of corporate fraud involving many companies. • In fact, studies show that occupational fraud now results in the loss of five percent of an organization’s annual revenue.
  • 3. Preventing fraud in your workplace Main Examples • Their are many kinds of fraud, such as: – Falsifying reports or procedures to maximize results and performance. – Misrepresentation of dates or description of services. – Accepting bribes from suppliers and customers. – Providing false employer group and/or group membership information. – Stealing company’s products. Embezzlement Corruption Fraudulent documents
  • 4. Preventing fraud in your workplace Strategy 01 – Set clear standards • One of the best ways to help safeguard a business is to set clear standards for your company employees. • An employee manual can be helpful in establishing the principles and values to guide your organization. • The rules apply to everyone.
  • 5. Preventing fraud in your workplace Strategy 02 – Check employee references • When hiring new employees, check references and perform background checks that include employment, credit, licensing and criminal history. • The benefit is far outweighed by the cost.
  • 6. Preventing fraud in your workplace Strategy 03 – Secure your organization • Some deterrents are simple to initiate, but often go ignored. • It is important to closely guard and monitor financial procedures and the company warehouse / inventory.
  • 7. Preventing fraud in your workplace Strategy 04 – Control who reviews sensitive docs • Companies should control who first receives the bank statements and other sensitive documents. • This helps eliminate the possibility that someone intercepts the mail first for the purpose of stealing or covering up an earlier theft.
  • 8. Preventing fraud in your workplace Strategy 05 – Consider annual audits • Even though it may not be required, obtaining an annual audit is a good idea. • An audit will not discover all fraud within an organization, but it will give you an opportunity for someone removed from the daily operations to take a “bird’s eye view” of the business.
  • 9. Preventing fraud in your workplace Strategy 06 – Watch for red flags • Some of the red flags of fraud include: – An employee who seems to be living beyond his or her means. – A sudden change in attitude and/or behavior. – Unexplained profits and losses in the books. – Evidence of relationships between employees and customers or suppliers. – An employee who never takes vacation. – An employee who works a lot of overtime. – Evidence of financial hardship.
  • 10. Preventing fraud in your workplace Strategy 07 – Zero-tolerance culture • Develop a zero-tolerance culture for fraud and corruption. • Ensure that all the company materials or documents send the same message with company symbols, trademarks and slogans that encourage ethical behavior.
  • 11. Preventing fraud in your workplace Our References • Appreciation for Editorial Assistance by William R.Z. Kush: – billkush1965@gmail.com • The following are referenced in this presentation: – http://www.businessweek.com/smallbiz/tips/archive s/2010/07/spot_workplace_fraud.html – http://www.accountingnet.ie/business_finance/Fraud _in_the_Workplace__Understanding_the_pitfalls_and_improving_your_ effectiveness.php – http://www.boston.com/jobs/bighelp2008/fall/workp lace_fraud/ – http://www.prevention-commerce.com/pcevf.asp
  • 12. Preventing fraud in your workplace Our Business Contacts Feel free to send us an e-mail. Our Website: www.licoreis.com Our E-mail: licoreis@licoreis.com licoreis@licoreis.com.br Linkedin: Roberto de Paula Lico Júnior Skype: roberto.lico