Fraud prevention refers to pro-active steps taken by a company to insure itself against fraudulent activity. This is usually in the form of enacted policies, systems and controls in place to detect and monitor for fraudulent activity, and communications to employees that instill ethical behavior.
A requirement for signed ethical use documents is an example of a system in place to help prevent fraud and gives the organizations the authority to investigate and, if necessary, prosecute individuals who violate the terms in the signed agreement. There are many other ways in which an organization can institute fraud prevention in the workplace.
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Fraud prevention is important in all organization to minimize the occurence of anomalies and irregularities.
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