The risk of fraud is a serious concern for all types of enterprises, but fraud can be particularly damaging to a nonprofit or not-for-profit organization, for which a damaged reputation can have devastating consequences.» Read More
As the use of whistleblower programs continues to grow, many organizations find themselves struggling to manage burgeoning caseloads. As a result, serious fraud investigations can be delayed (with mounting
As a result of COVID-19, the Board of Directors and Senior Management are challenged to monitor the cultural shifts of their organization and adjust their sensitivity and the frequency of communications as appropriate.
Leaders should always try to find ways to talk and engage with their people to motivate them, especially during these uncertain and trying times. If done correctly, talking can be incredibly powerful. It can help relieve anxiety (defined as “a feeling of worry, nervousness or unease, typically about an imminent event or something with an uncertain outcome”) and help people find the strength they didn’t know was in them. Studies have shown that talking shuts down the brain’s fear center.» Read More
If you think Good Tone or Conduct from the Top means you have an ethical environment, guess again!
Some of your people are up to no good.
In addition to establishing an ethical environment, board members and management must also take the lead in implementing and maintaining a formal fraud risk management program. One key element of such a program is a fraud risk assessment.
Risk assessments are part of the discipline of risk management, where enhanced frameworks and techniques have emerged. Risk management comprises the identification, assessment, and prioritization of risks followed by the coordinated and efficient use of resources to monitor, minimize, and otherwise control the impact of the risks on the organization.