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Brock University is joining organizations around the world in observing International Fraud Awareness Week.
Held from Sunday, Nov. 12 to Saturday, Nov. 18, the week aims to minimize the impact of fraud by promoting anti-fraud awareness and education, and empowering individuals and businesses to take proactive steps in recognizing, preventing and reporting fraud.
The Association of Certified Fraud Examiners — the world’s largest anti-fraud organization — reports that fraud costs organizations worldwide an estimated five per cent of their annual revenues. Recognizing the seriousness of the global fraud issue, Brock is participating in International Fraud Awareness Week by promoting anti-fraud awareness and sharing educational resources.
International Fraud Awareness Week aims to minimize the impact of fraud.
Fraud encompasses actions that are meant to deceive for financial or personal gain. Occupational fraud is committed by people who work for, or do business with, an organization and is classified under the following three categories: corruption schemes, such as those involving bribery or conflicts of interest; financial statement fraud schemes, such as recording fictitious revenues or understating reported expenses; and asset misappropriation schemes, such as theft of cash, false or inflated expense reports, receiving payments for goods or services not received or payment for hours not worked.
“In addition to internal controls, you and your colleagues are essential in preventing and detecting fraud and can make a difference by participating in fraud awareness training, being aware of red flags, trusting your instincts and reporting irregularities,” says Lizette Norio, Senior Manager, Internal Audit.
Brock’s Internal Audit Services Fraud Week web page offers information on fraud awareness through educational videos and slide decks, touching on topics such as what fraud is, examples of fraud schemes, why people commit fraud, the relationship between identity theft and fraud, and how seniors can become fraud fighters. There is also a game called ‘Jeoparty!’ to test one’s knowledge. Everyone is encouraged to view the materials and share the links with family and friends.
Anyone suspecting inappropriate activity at Brock, including fraudulent actions, is encouraged to disclose it in accordance with the Safe Disclosure Policy and Procedures, which apply to all University employees, students, volunteers, contractors and suppliers. When possible, disclosures should be made directly to the unit responsible for the area of concern. Additional disclosure avenues include Brock University’s Legal Counsel, Campus Safety Services, Human Rights and Equity, Office of People and Culture and Internal Audit Services.
People uncomfortable disclosing directly can use an anonymous website or 24-7 toll-free hotline, 1-855-484-CARE (2273), offered through the Grant Thornton CARE service, which is a third-party consultant independent from University administration. Upon logging into the CARE system, disclosures receive an access code to a secure portal, which lets the University respond without compromising anonymity.
Disclosures reported are reviewed by the University’s internal Disclosure Review Team that assesses whether there are reasonable grounds to investigate and whether there is any reason to believe the disclosure is not made in good faith. Disclosures determined to have reasonable grounds and to have been made in good faith — not malicious, frivolous or vexatious — will either be referred to the appropriate policy owner or Internal Audit Services for investigation.
The Safe Disclosure Policy also makes a priority of protecting from reprisal anyone who makes a good faith disclosure.
For more information on safe disclosure at Brock and the Grant Thornton CARE services, visit Brock’s Legal, Compliance and Privacy web page or email internalaudit@brocku.ca
Anti-fraud awareness educational resources are available on Internal Audit Services’ Fraud Week web page.
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