Fraud can be defined as any intentional act or omission designed to deceive others, resulting in the victim suffering a loss and/or the perpetrator achieving a gain. Three factors are generally accepted as being necessary for a fraud to occur: pressure, opportunity, and the ability to rationalize illegal behaviour. Regardless of culture, ethnicity, religion, or other factors, certain individuals will be motivated to commit fraud. Therefore, only through diligent and ongoing effort can a company protect itself against significant acts of fraud. Key principles for proactively establishing an environment to effectively manage a company’s fraud risk include:
At TaylorHay our Forensic Accountants and Certified Fraud Examiners can assist you reduce the risks of fraud accruing in your business through the establishment of Fraud Prevention Programmes customised for your business.
For further information relating to our specialist services please contact us or call on +617 5631 9862.