It is believed that up to 30% of New Zealand businesses are subject to fraud, error and corruption. Workplace fraud or staff theft can occur for years without being detected, and too often business owners seek assistance only after major problems become apparent. Business theft can be substantial – from financial loss to business devaluation, loss of shareholder confidence to even closure in small businesses. In many cases these situations are entirely preventable with the right fraud risk management system in place. Effective risk management helps reduce the risk of fraud or error, provides a greater degree of confidence in decision-making, and generally allows a high standard of control. Taking preventative action against fraud could very simply safeguard a company’s future.
Protecting an organisation from business fraud requires the right expertise and specific, customised system improvements. UHY Haines Norton’s Audit and Assurance team work closely with every client, conducting a fraud risk assessment across all areas of the organisation before developing solutions to prevent fraud and improve internal controls. This multi-pronged approach may include a fraud prevention policy, a business fraud prevention checklist, or a recommendation to implement a comprehensive risk management process.
Workplace theft is a serious, prevalent business, but it can also be completely preventable. Our fraud detection services can help you to protect the future of your organisation.
Our first consultation is free – contact us today to learn more about how we can help you to detect and prevent fraud in your organisation. UHY Haines Norton’s Audit and Assurance team are fraud protection specialists with a proven track record in helping businesses in all types of industries.
Sungesh Singh, Audit and Assurance Partner