Fraud Prevention Programs
Unlike publicly traded companies, most companies don’t have to comply with the Sarbanes-Oxley Act. But they could deter fraud if they emulated SOX’s best practices. All agencies should construct anti-fraud programs.
Depending on size of agency, this involves the formation of an audit committee as an independent oversight body. Formal policies and procedures in which employees are trained are key to effective internal controls.
Deterring, detecting and investigating fraud are important functions in retaining funds and protecting assets. Our firm can perform a stratified risk assessment and assist in the design of an effective internal control system to mitigate fraud and meet government requirements in maintaining effective internal controls and performing risk assessments.
Services can include (not all inclusive):
- Plan Designs for Maximum Segregation of Duties
- Preparation of Fiscal Policies and Procedures
- Identification of Fraud Red Flags
- Internal Auditing
- Training of Staff
- Governance Reviews: Strengthen Oversight
Let us perform a stratified risk assessment and design an effective plan for your agency today. Why wait until you are audited and found in noncompliance and/or an employee commits fraud?
“This service will pay for itself in running an effective organization. A good system which sets a tone that fraud will not be tolerated and will be detected protects the company’s assets”