You may think you are safe from fraud, because you work with people you trust or even with family and friends. You may think your procedures protect you against fraud and limit the risk to you. Yet, without knowing it, your digital signature is being used, you have been paying a salary to a fictitious employee for years, your employees exchange payment cards, fictitious invoices are being approved, there are serious discrepancies between your stock and your records, and split sums are being used to circumvent your payment software. Or worse: hackers have stolen important business information, a dispute with a commercial partner has a significant impact on your profit, or an error in your financial statements has affected the market’s confidence in your (corporate) organization. Financial consequences aside, fraud can be bad for your (corporate) organization’s reputation. This impact is often underestimated. Finally, don’t forget the liability risk you run as a director.
All too often we see managers focus their efforts on fraud only after the event. At which point the only possible steps are in reaction to the event to limit the impact and ensure that a case like this does not occur again, such as dismissal of the fraud perpetrator in question. VAN LEEUWEN LAW FIRM – FORENSIC AUDITING & INTEGRITY SERVICESRead More
Preventive measures can prevent most, but not all fraud cases. Hence there is a need to detect errors, misconduct and fraud before they become too big or, worse still, become a norm or culture. VAN LEEUWEN LAW FIRM – FORENSIC AUDITING & INTEGRITY SERVICES applies an integrated approach to master data, process-oriented data and transactional data. The services consists of processRead More
It is impossible to eliminate the risk of fraud completely. Once a case of fraud is established in your (corporate) organisation you need immediate access to the facts: how was the fraud case made possible? How far does it extend in your (corporate) organisation, who is involved and what is the likely financial impact? If the problem escalates, you willRead More