According to the recent fraud survey conducted by Association of Certified Fraud Examiners (ACFE), the most effective fraud prevention tactics were “non-accounting controls” such as hotlines and training and support programs for both employees and managers. The human factor also played a significant role in the discover of fraud. The most common method of catching a fraudster is a tip-off. In fact, tips expose fraud three times as often as do management reviews, internal audits, and account reconciliations.
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