Forensic Accounting as Prevention

As regards an appropriate response to fraud which has been detected, every institution requires an integrated corporate strategy.
An amoral business environment corrupts honest employees.
The economy cannot afford business to become a facilitator for crime and dishonesty, merely because it has become convenient not to bring culprits to justice.
In developing an appropriate fraud response plan, it is essential that an institution considers the following steps:

• What are the organisation's major risk areas and what is its policy stance on perpetrators of fraud?
• To whom is the responsibility for managing the response allocated?
• What is the level of fraud awareness within an organisation?
• Are controls effective?
• Are customers or trading partners aware of the company's policy on fraud?
• Do employees understand the company's attitude to fraud and dishonesty?
• Can employees report fraud confidentially?
• Are recruitment practices compatible with an honest workforce?
• Do disciplinary proceedings dispense justice even-handedly and more importantly, are the seen to do so?