Free Anti-Fraud guide by E&Y UK
Fear of F. should force every company director to take responsibility for their company's defenses and ensure that they have strong controls in place. This is the view of a report published by Ernst & Young in the UK.
A Guide titles "F.: Real solutions to a real risk" spells out the most common types of F. and gives guidance on various ways in which their impact can be minimized. The guide spells out the most common types of F. likely to hit businesses, from straight forward asset misappropriation, to false accounting and corruption. It also seeks to dispel the myths surrounding ‘computer F. – in the eyes of Ernst & Young’s fraud investigators, computers are only an additional tool in a fraudster’s scheme.
In common with any crime prevention strategy, the key to minimising the risk of F. lies in understanding why it occurs, identifying vulnerable business areas and implementing procedures to protect these areas.
Matters to be considered and incorporated within a F. contingency plan include:
- Agreeing the F. contingency plan
- Who leads the investigation
- Setting objectives and powers of the investigation team
- Conducting the investigation – identifying the suspects, obtaining and preserving evidence
- Working with the police
- Reporting and publicity
For a free copy of "F.: Real solutions to a real risk" you can call Rukshan Permal of E&Y UK on +44 20 7951 9781.