Fraud policy and risk assessment
Presentation: TEI sector 2009 audit debriefing.
TEI sector risks
- Some TEIs still do not have a formalised fraud policy – no good reason to delay any more
- Do a fraud risk assessment regularly, develop a response to vulnerable areas such as procurement
- Time consuming to deal with suspected or confirmed fraud, so it’s best to develop strong preventive controls and an appropriate tone at the top
- Cultivate a zero tolerance culture against unethical behaviour
- Some fraud instances reported to us – thanks to those that took appropriate action
- Remember, one fraud is one too many
