ACTIVITIES OF FRAUD PREVENTION SERVICES
The activities of Fraud Prevention Services Pty. Ltd. can be divided into four key areas:
- Consulting on fraud and corruption control and ethics matters;
- Specialised training;
- Product development; and
- Research.
CONSULTING
Fraud Prevention Services Pty. Ltd. has introduced fraud control measures and ethics programs to a wide range of clients. Some of the work undertaken is 'reactive', where a client required Fraud Prevention Services Pty. Ltd. to investigate a fraud allegation that has occurred within their organisation. A larger portion of their activity, however, is pro active, with organisations realising that prevention is better than cure. Expectations today, from shareholders and member of the public, are that organisations will take appropriate measures to prevent fraud. As a result, Jeff and Barry work closely with organisations to devise tailored fraud control plans and ethics programs to prevent fraud, corruption and unethical practices before they become problems. The work involved in developing fraud control plans and ethics programs include: Developing Code of Conduct and Related Policies It is essential organisations establish standards of expected behaviour. Identifying and Reducing Opportunities for fraud and Corruption It is essential that organisations understand their areas of risk to fraud and corruption. Fraud Prevention Services Pty. Ltd. designed fraud limitation methodologies for organisations that not only address risks of fraud but recommend ways to reduce or eliminate these risk areas. Detecting and Investigating fraud Fraud Prevention Services provides training for staff in actions to be taken when fraud or corruption is suspected within their organisation. This includes training in investigation methods. The company prepares comprehensive Investigation Manuals to meet the specific requirements of organisations. The Manuals provide detailed information for staff on conducting fraud investigations. SPECIALISED TRAINING As well as running in-house training in fraud awareness and the code of conduct Fraud Prevention Services Pty. Ltd. run specialised workshops covering aspects of fraud prevention, detection and investigation. A Code of Conduct will help staff understand their organisation's commitment to ethics and articulate the level of standards of ethical behaviour for them. Fraud Reporting Procedures also have to be established to enable staff and clients to report suspected fraud and corruption knowing the information will be kept confidential and they will be protected from any intimidation. Other important policies that Fraud Prevention Services have drafted for organisations include:
- Gift and Benefits;
- Conflicts of Interest;
- Clarifying Action in Relation to Bribes;
- Second Employment Policies; and
- Use of Resources and Information.
Education and Awareness
Introducing a Code of Conduct and related Policies does not ensure that management and staff understand their contents or are prepared to comply with them. Fraud Prevention Services have designed and conducted training courses to inform staff of new codes and policies. The courses that are conducted for all staff in an organisation, are always well received because they are run in a positive manner and being tailored to deal with issues that confront staff on a day to day basis. Being recognised as leaders in their field people from all over Australia have attended these workshops. Jeff and Barry have run workshops covering topics such as:
- Tendering And Outsourcing;
- Managing Internal Controls;
- Fraud Control Skills For Auditors;
- The Auditor In Court;
- Advanced Investigation Skills; and Building Your Fraud Control Plan.
The responses to these workshops are excellent because they deal with practical issues and are continually being updated, thereby keeping attendees at the leading edge in this demanding field. |
