Thursday, May 19, 2011

European fraud survey 2011 - Board role

The necessary audit committee and board level management response

There are a number of ways in which companies can reinvigorate the push for integrity. The leadership of the organization must:

  • Make ethical behavior a priority for the business and demonstrate its commitment to achieving this objective
  • Conduct a fraud, bribery and corruption risk assessment and identify any gaps in current policies and procedures
  • Where necessary, modify and develop policies and procedures
  • Implement changes paying particular attention to training:
    • Be sure that training is truly tailored and relevant, reflecting the issues and day-to-day problems that their employees are likely to encounter and how to address them
    • Take a risk-focused approach to who should be trained, on what, in which manner and how often
    • Ensure that integrity is reflected in the appraisal systems of the business


These are largely commonsense measures that give employees a reason to care more about integrity by linking it to their work and their career advancement within the organization.

See full Study.