Fraud Prevention

Based upon our risk assessment and cost/benefit considerations, we provide recommendations of specific fraud prevention steps that may include:
• Effective hiring processes
• Human Resources considerations
• Training and education
• Communication
• Effective control procedures
Many small and medium size rely on “Trust” to prevent fraud, CARET recognizes that “Trust” is created through focused and considered checks and balances as part of an overall FRM plan.

Fraud Detection

Unfortunately, fraud can never be completely eliminated; therefore it is essential that an effective FRM policy includes fraud detection procedures, for the longer a fraud continues the more costly it is.

At CARET we encourage our clients to have fraud detection procedures:

• as part of a proactive planned Fraud Management System rather than a reaction
• assimilated within other organizational processes

As detection is an effective preventive technique, have CARET assist you in being proactive not reactive. It is easier and less costly to prevent fraud before it has occurred than it is to detect and respond to allegations of fraud.