Answer:
Step-by-step explanation:
Key factors in preventing fraud,
1. Know Your Employees
Observing and listening to employees can help us identify potential fraud risks. It is important for management to be involved with their employees and take time to get to know them.
2. Make Employees Aware/Set Up Reporting System
Awareness affects all employees. Everyone within the organization should be aware of the fraud risk policy including types of fraud and the consequences associated with them.
3. Hire Trustworthy Experts
When hiring accountants, fraud examiners, and other expert professionals who will have access to sensitive company information such as bank account numbers, it is critical to ensure few firms or individuals have reputations built on quality service and trustworthiness.
4. Live the Corporate Culture
A positive work environment can prevent employee fraud and theft. There should be a clear organizational structure, written policies and procedures, and fair employment practices.