Download - What a mess – how could all this was allowed to happen? Dr. Atis Zakatistovs RBS March 24, 2014
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What a mess – how could all this was allowed to happen?
Dr. Atis ZakatistovsRBS
March 24, 2014
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Fraud
• A deception deliberately practiced in order to secure unfair or unlawful gain.
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Fraud awareness quiz (Steve Giles)
• Who is responsible for preventing and detecting fraud in your organization?
• What percentage of employees do you consider to be totally honest?
• What percentage (by value) of internal fraud is committed by women?
• Who is responsible for investigating fraud in your organization?
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Generic controls
• Segregation of duties;• Delegation of authority and authorisation
limits;• Physical and computer security over assets,
records and information;
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Fraud prevetion – hard controls
• Staff vetting;• Internal controls;• Anti-fraud policy statement;
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Fraud prevention – soft controls
• Employee support programmes;• Fraud awareness training;• Management review of internal controls;
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Fraud prevention plan
• An assessment of fraud risk;• A policy statement, including a fraud response
plan;• A fraud awareness training program;• Staff vetting procedures;• A whistle-blowing hotline.
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Fraud triangle (Donald R. Cressey)
• Psychological pressure;• Opportunity;• Rationalisation;