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Anti fraud program

BDO Anti Fraud Program

The following program elements can be implemented individually, all together or in any combination.

Program element Objective Services provided
Comprehensive Fraud Risk Assessment To identify the organisation’s susceptibility to specific types of fraud and the likelihood and significance of those frauds.
  • Identify fraud risk factors
  • Evaluate pertinent fraud scenarios
  • Assess the likelihood of occurrence and resultant impact on the organisation
Control Activities To assess effectiveness of anti-fraud controls and implement or improve control measures to appropriately manage identified fraud risks.
  • Determine what controls the organisation believes are currently in place
  • Map existing controls
  • Identify control gaps
  • Implement control enhancements
Organisational Structures, Policies and Procedures To enable an organisation to best structure its policies and procedures so that fraud will be detected if it occurs, and ascertain that its anti-fraud policies and procedures are well constructed, properly communicated and followed.
  • Recommend compliance structures and policy and provide procedural guidance
  • Test employees’ understanding of, and compliance with, policies and procedures.
Ethics Awareness and Education To promote an organisational culture that encourages ethical conduct and a commitment to compliance with the law.
  • Provide advice on code of ethics / conduct
  • Provide ethics education
Fraud Education To enable an organisation’s employees, officers, directors and agents to identify and respond appropriately to the signs of fraud.
  • Provide training on potential fraud scenarios, detecting fraud, regulatory guidance and implications of fraud.
Effective Mechanisms for Reporting, Investigating and Remedying Fraud To help an organisation respond to reports of fraud promptly and appropriately.
  • Assess whistleblower hotline options and effectiveness with Secure as an option.
  • Establish investigation protocol
  • Remedy control deficiencies.
Monitoring of Anti-Fraud Programs and Controls To provide continuing confidence that anti-fraud programs and controls are operating effectively.
  • Develop and implement monitoring plans for the anti-fraud program
  • Recommend changes as the organisation evolves
  • Provide ongoing advice regarding advances in fraud prevention practices

Do you know what the law requires you to do?

Promoting regulatory compliance & best practices

Regardless of whether you are bound by regulatory requirements, all organisations should be seeking to maximise stakeholder value through regulatory compliance and the implementation of best practices.

The legal requirements and authoritative guidance for the Anti-fraud program include the following:

The BDO Anti-fraud program is designed to satisfy these requirements and promote best practices. It takes time to fully understand the legislation and what it is your organisation needs to do to comply. Our forensic experts understand the requirements and can provide you with peace of mind when it comes to mitigating your fraud risk.

Why you need an Anti-Fraud Program

The benefits of any type of anti-fraud program are both tangible and long-term and include: