ForThoughts Edition 11: Applying Six Degrees of Separation to Preventing FraudIssues in Forensic Accounting |
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Beyond the obvious financial loss, fraud can take its toll in
- Reputational damage
- Diverting management’s focus from core business activities
- Investigation costs and resource requirements
Compliance with regulations and fraud risk mitigation programs can also be costly, though necessary, endeavors.
According to Edition 11 of ForThoughts, considering the human element of fraud and applying the theory of 'Six Degrees of Separation' could help mitigate fraud and other compliance risks.
Integrating the human factor in your fraud and risk management program or due diligence efforts can be especially valuable when your business is global and you are managing risk among subsidiaries in various countries around the world.
In addition, given strong government enforcement of potential violations of the Foreign Corrupt Practices Act (FCPA), understanding the relationships among company representatives and foreign government officials can be invaluable for helping to avoid prohibited transactions.
Learn more by reading the article or accessing the video below.
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Applying Six Degrees of Separation to Preventing Fraud Read about the potential value of integrating the human factor in your fraud risk management program or due diligence efforts. |
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A Discussion about Applying Six Degrees of Separation to Preventing Fraud How companies may be able to apply techniques used in fraud investigations to prevent and detect fraud before it causes serious damage. |
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Subscribe to ForThoughts As used in this document, ‘Deloitte’ means Deloitte LLP (and its subsidiaries). Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. |
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