Small businesses without strong internal controls of money and paperwork are the most vulnerable to employee fraud. Don’t wait for a fraud to occur. It is essential to be proactive and preventative and put processes…
Audit the Books Regularly - Your company books should be routinely audited where there is cash, refunds, product returns, inventory management, and accounting functions. Additionally, occasional non-scheduled audits can also help detect fraud. Train Employees To…
Fraud is a very serious matter, but a well-structured and organised fraud risk management policy diminishes your chances of losing an enormous amount of money due to erroneous number-crunching or an inside job. Below is a…
Procurement fraud is an arrangement between the procurement manager or other designated officials who award contracts to a vendor in return of favours. As a result of this unethical transaction, businesses suffer billions of rands…
It is no secret that all companies are at risk of fraud and losses. Fraud usually occurs when sufficient internal controls are lacking or are inadequate. The best approach for a small-business owner is to…
Fraud risk assessments involve the process of identifying and addressing a company’s vulnerability to both internal and external fraud. Once a risk has been identified, a plan is then developed to mitigate those risks by…
Small businesses are much bigger targets of employee fraud than larger corporations. As a small business owner one of the biggest leaps of faith you face when starting out is believing that you have hired…
Consumer fraud occurs when a person suffers from a financial or personal loss. The fraud can involve the use of deceptive, unfair, misleading, or false business practices. Here are some of the most common frauds…
Financial or taxes fraud. Business report and magnifying glass. After you receive a fraud allegation or detect suspicious behaviour, you have to decide if it’s worth investigating. You should launch an investigation when you have…
Everyone knows that fraud risks are out there, but not everyone is equipped to recognize and reduce the impact of fraud. A fraud risk assessment is an essential component in helping organisations protect their people,…