If an organization’s tone at the top could be measured and correlated with higher earnings and lower rates of financial reporting fraud… most directors would almost certainly want to assess that tone.
Companies are enacting anti-fraud policies that work well in principle but not in practice. Codes of conduct provide many companies with a false sense of protection from risk, when in fact exposure to fraud is still a critical issue.
Erick O. Bell, a Senior Manager at Deloitte Financial Advisory Services LLP, presents a detailed internal control checklist that outlines 5 anti-fraud strategies companies can use to deter, prevent, and detect fraud.