Organisations that have training and awareness at the heart of their company ethos not only have a greater opportunity to develop internal capabilities and retain expertise but also have an increased ability to develop an understanding of the risk that the organisation faces and an increased aptitude to respond to these risks.
As an example, it can be a challenge to persuade leaders of the benefits of procurement fraud and corruption education and how it can positively impact various roles within an organisation, and although the possibilities and value of such education can be quite significant, many leaders don’t see or believe that education on the basics of procurement fraud risk mitigation can have such a financial impact on their organisation.
Staff understanding the typologies of procurement fraud and corruption, how and where it can be committed allows them to understand what risk looks like within their working environment and how they can mitigate risk in their own areas of responsibility. It also allows each member of staff to understand how they fit into the organisations anti-fraud strategy.
We recognise that on many occasions people that have attended our courses realise having been given live case examples and typologies, that the conduct and behaviours that they have witnessed or been made aware of has gone on in their organisation, warrants further scrutiny.
When asked whether training can be of benefit to your organisation, it isn't just guesswork the figures speak for themselves
Organisations have introduced field compliance teams because they recognise that there is a gap in their compliance regime, that include where there are regular failures in equipment, expertise can be tasked to check the route cause of the problem and whether there are bigger concerns.
Recognising that there are many information sources within their organisation that aren’t being considered as part of its organisation risk assessment and that they are at greater risk from the US Foreign Corrupt Practices Act than they realised. Examples have included, Event Management contracts organised by Human Resource departments that included the management of cash for these events, increasing the fraud and bribery risk to the organisation that had previously gone unnoticed.
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Others have recognised that there aren’t the reporting systems within the organisation to receive information or allegations including whistleblower reports. Creating a team to collect and analyse its own data sources gave it a greater ability to profile and respond to its own risks.
Teaching the basics of project risk assessment and an outline of British Standard BS10501: Guide to Implementing Procurement Fraud Controls, gives an organisation the ability to assess procurement fraud risk within projects and create a risk register that sets the foundation of creating an organisation strategy to mitigate risk and protect the revenues of the organisation. Projects are another example where risk of fraud is rarely assessed prior to its implementation and yet once given an insight into its value through basic risk evaluation training can have a significant impact.
Discussing risks such as global fraud and transnational crime typologies and risk mitigation strategies through educating an organisation on risks that it may be targeted by, gives it a greater opportunity to protect its revenues and its reputation.
There are a number of global reports and assessments that highlight the financial impact of procurement fraud at a national level and yet there are limited proactive government response to procurement fraud risk including the lack of national strategy to enhance risk mitigation.
Education is at the centre of any strategy because a natural consequence of individuals being educated on fraud methodology and control measures to mitigate risk should be an increase in reporting of suspected illicit behaviour and information that can be analysed. The introduction of a program of awareness and training creates a starting point that can measure organisation performance and value of a risk mitigation strategy.