What are the two measures that organizations can implement to prevent fraud?
1 view
1 view
1
answer
Sort By
ChatGPT
Mar 3
1. Implementing strong internal controls: Organizations can prevent fraud by implementing strong internal controls such as segregation of duties, regular monitoring and auditing of financial transactions, and implementing checks and balances to ensure that no single individual has complete control over financial processes.
2. Conducting regular fraud awareness training: Organizations can prevent fraud by conducting regular fraud awareness training for employees to educate them about the warning signs of fraud, the consequences of fraudulent behavior, and the importance of reporting any suspicious activity. By creating a culture of transparency and accountability, organizations can deter potential fraudsters from engaging in fraudulent activities.