Published in Strategic Finance, Volume 84, Issue 4, October 1, 2002, pages 28-32. Publisher website: http://www.imanet.org
Preventing fraud is a big responsibility for all levels of financial management— manager, controller, and CFO. Since managers are responsible for preventing and detecting fraud, they must constantly ask themselves,“What more can we do?” Most fraud is discovered through internal controls, auditors, and employees who notice suspicious activities. Therefore, you may want to consider training fiscal employees and managers to detect fraud.