Fraud, financial misconduct, corruption, theft, and embezzlement all represent in some form or other an attack within your company, often by your most “trustworthy employees”. When looking back in hindsight many fraud indicators may have been present, but as managing director, accounting officer, chief financial officer, chief risk officer, chief audit executive, and line manager we somehow overlooked the core principles of timeously and adequately responding to these risk indicators.
If your RISK RESPONSE is the acceptance of the fraud risks, then you don’t have a zero tolerance for fraud, corruption, and theft. Living in a world where governments, companies, and individuals lose money, assets, and resources is a reality. A typical fraud scheme is not a once-off event, as it takes place over a period of time.
Do you have a robust fraud risk management strategy and process in place?
We can assist in risk management workshops, providing examples and talking you through case studies that enables participants to associate with incidents and relate more effectively to the risk management processes.
When fraud occurs, mitigating and preventative strategies were not properly designed, implemented, and followed up. Lack of governance, oversight, internal control measures, and the absence of effective services from providers such as internal auditing may be root causes for the problem.
Asking Mubesko professionals to assist you in the fight against losing hard-earned revenue and profits might just be the turning point in reducing your reputational and financial risk exposure.