From Protiviti’s The Bulletin - Volume 2, Issue 9
A company’s anti-fraud program is an integral part of its corporate governance process and is fundamental to protecting tangible and intangible enterprise value and preserving the reliability of public reporting. This document focuses on key questions for board members and management when evaluating the anti-fraud program.
A few sample questions include: Has an anti-fraud program been presented to the board that focuses on areas of probable fraud as well as integrates appropriate control measures across all aspects of the company? Is the anti-fraud program reinforced regularly by the tone from the top? Are there any gaps in the anti-fraud program requiring remediation? Is there fraud risk requiring attention? Is the audit committee compliance with requirements of SOX Section 301 to establish an effective compliance and confidential, anonymous reporting process?