Red Flag Reporting
In the most recent Report to the Nations, issued by the Association for Certified Fraud Examiners (ACFE), it was estimated that the typical organization loses 5% of its revenues to fraud each year. Surprisingly, small companies with fewer than 100 employees appear to be more at risk than the corporate heavyweights. Unethical behavior isn’t limited to financial fraud, however, and companies must take decisive measures to ensure their financial and brand stability.
A proactive approach is the best defense against fraud and ethics abuse. Smith & Howard offers Red Flag Reporting services as the logical first step. Red Flag Reporting is a simple yet highly effective program designed to educate and empower your employees with the tools to detect and report unethical behavior. Bringing red flags to light before theft grows or work conditions lead to litigious situations can be:
- the most cost-effective internal control an organization can have (an ethics hotline),
- the most successful mechanism for catching unethical behavior (open channels of communication), and
- the most powerful tool for deterring bad actions (a strong tone at the top).
Red Flag Reporting services provide a vehicle to detect and stop costly problems. Our service protects the assets, employees and reputations of our clients, while dramatically reducing the costly consequences of unethical activity in the workplace. We provide the most cost effective internal control an organization can have (a 24/7/365 anonymous ethics hotline), empower the most successful mechanism for catching unethical behavior (open channels of communication) and support the most powerful tool for deterring bad actions (a strong tone at the top). Our service is so affordable that statistics bare that simply receiving one report can pay for our service for decades.
Our recent webinar covered Organizational Level Controls to prevent fraud. View it here.
For more information on our Red Flag Reporting services, fill out our form on this page or call Marvin Willis or Debbie Risher at 404.874.6244.