Fraud Control Improvement Kit

Exactly because fraud prevention is an art rather than a science it will continue to be a field of study that will generate considerable (and variable quality) guidances.

It is in that context that the recent update by the Auditor General of the Australian state of New South Wales is a valuable contribution.

As the Auditor General notes:

Fraud control requires an ongoing commitment that goes well beyond setting up policies and procedures.

We particularly like the following observation:

(The) Audit Office’s Fraud Control Improvement Kit recognises the importance of the cultural elements of fraud control and how leaders in an organisation can play a role in ensuring the right culture is present. The approach to fraud control should be positive and proactive and fraud control should not be a ‘tick and flick’ exercise.

It would be time well spent for all organisations – public or private sector – to review the Kit and assess what it is that they can do to address what is a most insidious risk.

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