Fraud Prevention

Conclusions and recommendations

The Effect of anti-fraud Awareness on Fraud Prevention
The result indicates that the anti-fraud awareness has a significant and positive effect on the fraud prevention. This result is in line with that proposed by Tuanakotta (2012) stating that the concept of internal control in the prevention of fraud is to create awareness about the fraud. In addition, antifraud awareness is an effort to raise awareness about the importance of fraud prevention by all parties in any organization. Through good leadership, it can be supported by anti-fraud awareness so as to increase the awareness and sensitivity of all parties to the dangers of fraud. Singleton et al. (2010) stated that there must be efforts to be done to reduce fraud. It can be done by

Implement Internal Controls
Good internal controls are plans applied to protect the company’s assets, ensure the accurateness and integrity of the accounting records, prevent and detect fraud and theft. Segregation of duties plays an important role in the internal controls that reduce and mitigate risk of fraud.

4. Monitor Vacation Balances
Check on those employees who haven’t missed a day of work for a longer period of time. This may sound like loyal workers; it can also be a sign that there is something wrong and are worried that someone will detect their wrong doings if they were out of the office. It is good idea to rotate employees to various task or department within the company.

5. Hire Experts
Experts like Certified Fraud Examiners (CFE), Certified Public Accountants (CPA) and CPAs who are Certified in Financial Forensics (CFF) can help in creating anti-fraud strategies and measures. These specialists can provide a wide range of services from complete internal control audits and forensic analysis to general and basic consultations. Training will be a great help for the employees to be aware and know diligently their role, responsibilities and limitations inside the