Steps to help prevent and mitigate occupational fraud
WHITE PAPER |
Many leaders of small to midsized firms are busy tending to daily operational activities, which means the issue of fraud assessment, prevention or detection is generally not top of mind. But the ACFE data shows it can be an expensive mistake to overlook potential financial misconduct by employees or other stakeholders.
Occupational fraud is a pervasive and costly problem for businesses. In its 2014 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) noted that a typical company loses about 5 percent of annual revenue to fraudulent acts, which take an average of 18 months to detect.
In the white paper, Steps to help prevent and mitigate occupational fraud, RSM identifies four quick steps executives can take in an effort to reduce and mitigate occupational fraud in their organizations. Steps include:
- Reviewing and strengthening internal controls
- Encouraging use of tip and fraud hotlines
- Leveraging low-cost anti-fraud efforts
- Articulating clear, consistent tone at the top
Download the white paper to learn how to best implement or optimize these preventative measures in your organization.