In the incidences of fraud, bribery and corruption, I strongly believe that the culture of the organisation plays a large part in prevention and risk management and organisations need to put more emphasis on improving this component. If all of your employees are aware of the non-tolerance to fraud culture, can see that all programs put in place are being enforced and everyone is fulfilling their role in the company, this will act as a strong deterrent to any individuals or sub-groups to commit fraud.
In order to achieve this throughout the company, there are a few basic steps that are essential;
• Providing a respectful environment
The 'tone' from the top of the company at the Board level through Senior Management to all employees should ensure that everyone feels respected with a strong anti-bullying policy. Providing this will ensure that no employees ever feel under appreciated or alienated.
• Communicate and Enforce anti-fraud programs
Strong anti-fraud programs such as whistle-blower and whistle-blower protection programs are very effective for helping to reduce the likelihood of fraud. These programs however need to be properly executed and communicated with the employees of the company to ensure that everyone is made aware and know that they will be enforced should anything happen.
• Code of Conduct Agreements
It is important to have a Code of Conduct created and signed by all employees in at least Senior Management. This document will outline that should a breach occur they will be personally liable and taken to court from this signed agreement. Through updating and re-signing this regularly, employees know what is expected of them and will be made accountable. This is then incentive to ensure everything under their control is being executed correctly.
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