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042 - Improve profitability by preventing fraud and foster ethical culture
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WHAT
Preventing fraud increases profitability and that is one of the most underestimated results in the mindset of the C-level.
Are you curious how to improve your profitability by preventing fraud and fostering a culture of integrity?
Learn in this episode how you are able to boost your profit with six practical pillars.
- Establishing and implementing strong, understandable, and practical internal policies
- Update relevant training
- Establish a reporting process
- Set and “rolemodel” the tone at the top
- Check what you hire
- Be consistent, transparent and fair
WHY
It seems to be obvious and is easily understood that any kind of incident in non-compliance and fraud costs and it is reflected in several studies, also in the report to the nation of the ACFE, 5% of the yearly margin is spent to fraud.
Should we spend this portion or should we better invest it?
IMPORTANT LINKS AND MENTIONS
The followig episodes might be also of interest for you when you care about protecting your organisations most precious assets:
Episode 08: Common pitfalls for corporates on ethical behaviour
Episode 18: Build impactful alliances on corporate level
Episode 21: The type of characteristics not needed at C-Level
Episode 30: The one crucial question when hiring key personnel
THANK YOU FOR SHARING, SUBSCRIBING AND REVIEWING
Thank you for joining me on this episode of THE HUMAN FACTOR – Corporate Integrity Matters. If you enjoyed this episode, please share, subscribe, and review on Apple Podcasts or Google Play Music so more people can enjoy the upcoming episodes.
Don’t forget to follow and connect with me on LinkedIn, Twitter and Instagram. I am looking forward meeting you there.
YOU ARE IMPORTANT
Let me know what topic you would like to have on spot–via contact@corporateintegrityconcepts.com
Further information about Corporate Integrity can be found on www.coporateintegrityconcepts.com
And if you are interested in becoming part of the amazing movement, join us www.corporateintegrityacademy.com
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