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Establishing Accountability for Your Antifraud Efforts

Dan Swanson | March 4, 2008

Some companies have far lower levels of misappropriation of assets and fraudulent financial reporting than others. Why? Because they aggressively take steps to prevent and detect fraud, end of story.

At these exemplary companies, management takes seriously its ethical responsibilities for designing and implementing systems, procedures, and controls to catch fraud—and, along with the board of directors, for promoting a culture and corporate environment that demands honesty and ethical behavior.

How does your company stack up? Well, run through this checklist:

  • Does your organization have a strong fraud oversight process at both the board and management levels?

  • Does your organization have robust and effective antifraud policies, procedures and controls?

  • Does management regularly evaluate fraud risks and antifraud controls?...

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