Question

discuss how you would "sell" a fraud prevention program to management for the company you current work for or have worked for in the past.

Answer 1

It will present the fraud prevention program to the management of the company by highlighting its advantage to the business:

1. It will help to identify any fraud committed in the functional areas like payroll, production, etc

2. If fraud committed is known to the management, it will be easier for the management to formulate and implement effective internal controls at different levels.

3. This program is cost effective as it helps to save five time of its expenditure by reducing the extra cost due to fraud.

4. Reducing the number of fraudulent activities in the company will help to safeguard the company from negative publicity and create a good working culture.

Since I have worked or working in the company, I should know some of the loopholes in the internal control policies which allow the employees to commit fraud. I would highlight such areas of fraud and its solution in the fraud prevention program.