tpp finance seminar - fraud & internal controls
TRANSCRIPT
TPP Finance Breakfast Seminar
17th November 2015
Rob Hayter, Director – Senior Appointmentsand
Matt Adams, Senior Consultant – Senior Appointments (Corporate Resources)
Finance Recruitment overview – 2015 • Steady increase in roles – consistent across temporary,
interim (fixed term) and permanent• “Election blip”• International charities see particularly strong growth• Significant increase in Part-time roles• Continued demand for “Finance Business Partners”
Finance Recruitment – predictions for 2016 and beyond • More candidates from Commercial sector and Practice• Web-based accounting• The role of finance - time for Finance Directors to grab
the limelight!• Flexible/Agile working• Innovation and income diversification
“Charity Expertise Award”“Overall Service Award”Top three for eight consecutive yearsAnnual Charity Finance Audit Survey
• Fraud and Internal Controls
Anna BennettCharities Partner
[email protected] 7969 5542
• A few facts about fraud
• Real life examples
• Charity Commission expectations of trustees
• What to do next
Session Overview
Annual Fraud Indicator (2013)
47%
15%
14%
24%
source: annual fraud indicator 2013
payment/banking fraud
accounting fraud
identity fraud
other
Types of Fraud
CIMA – Fraud risk management, A guide to good practice
The Fraud Triangle
CULTURECONTROLS
POLICIES TRAINING
1. CHANGING AND VALIDATING SUPPLIER DETAILS
TOP 10 FRAUDS
2. FRAUDULENT EMAILS
TOP 10 FRAUDS
3. ONLINE PAYMENTS
TOP 10 FRAUDS
4. EXPENSES AND CREDIT CARDS
TOP 10 FRAUDS
5. LOSS OF DATA
TOP 10 FRAUDS
6. INVOICES
TOP 10 FRAUDS
7. CHEQUES
TOP 10 FRAUDS
8. PROCUREMENT
TOP 10 FRAUDS
9. BANK TRANSFERS
TOP 10 FRAUDS
10. PAYROLL
TOP 10 FRAUDS
To safeguard money, assets and to act prudently:• Appropriate internal financial controls• Keep proper and adequate financial records• Consider other practical measures• Consider due diligence, monitoring and
verification of use of funds• Deal responsibly with incidents
To prevent and detect fraud
Charity Commission Expectations of Trustees
1. Outlines a charity’s attitude to, and position on, fraud and sets out responsibilities for its prevention and detection
2. Communicates important deterrence messages to staff and others
Anti-Fraud Policy
1. Policy statement
2. Definition of fraud
3. Key responsibilities
4. Reporting suspicion
5. Fraud response plan
Formulating an Anti-Fraud Policy
• Review areas of risk and controls in place
• Put controls in place• Make sure they’re written down• Make sure people know what they are• Put together a fraud response plan• Talk to staff• Check your insurance policy
What to do next…
Resources
?
Thank you for attending today.
TPP Finance – [email protected] 198 6050
TPP Senior Appointments – [email protected]
0207 198 6060