How to Create and Maintain a Culture of Honesty and Sound Ethics

• Creating and maintaining a culture of honesty and sound ethics

- Setting the tone at the top: It is important for top management to lead by example
- Creating a positive work environment: To enhance employee well being, productivity and job satisfaction
- Hiring and promoting appropriate employees: Implement proactive and pre employment vetting procedures.
- Raining: All new appointees to under go organization’s induction course, and where applicable receive additional or refresher training.
- Confirmation: Managers must let the employee know their accountability and responsibilities.
- Discipline: Regular communication via different forms of media about consequences of committing wrong doings and fraud.


• Evaluating antifraud process and control

- Identifying and measuring fraud risk: It is the primary responsibility of management to establish and monitor all aspects of the organisation’s fraud risk assessment and prevention activities.
- Mitigating fraud risk: Streamline organisation’s activities and processes in order to reduce or eliminate certain fraud risks.
- Implementing and monitoring appropriate internal control: Identify the processes, controls and other procedures that are required to moderate the identified risks and implement appropriate monitoring controls.

• Developing and appropriate oversight process

- An organisation should have an appropriate external and internal oversight function in place to deter or prevent fraud effectively.