First of all, I want to send a big greeting to all friends of steemit and especially to the members of this prestigious and wonderful #Project-Hope, today I come to share with all of you this publication related to what represents for organizations the prevention of fraud through management controls.
The current era is distinguished by the speed of technological, organizational, quality, information excellence and economic changes, as well as human capital. Therefore, fraud is a fraudulent action for organizations that affects them financially and can even lead them to bankruptcy..
This action is carried out by people knowledgeable in the administration of resources and they do it for personal gain to appropriate part or all of the assets of a third person or entity..
Hence, fraud represents a practice in some companies, since any internal control system, no matter how sophisticated it may be, is susceptible to allow errors and consequently, does not guarantee a perfect administration, nor the registration of all transactions carried out in a company..
Therefore, companies must implement normative control measures, such as requirements, procedures, policies, regulations, which guide and orient the performance of activities within specific areas of the entity../div>
In this sense, internal audit plays an important role in providing oversight and maintaining adequate controls to ensure the proper use of financial resources in companies..
It must also ensure the protection of its assets because these are the ones that allow the development of the main activity for which it was created, and the thefts, destructions and defects of such assets have a negative impact on the fulfillment of the company's objectives.
To this effect, internal control is an essential element to avoid this problem and consequently, if it is carried out in an effective and efficient manner, the probabilities of fraud are minimized.
The information you shared is very important. Administrative control actions are extremely necessary to prevent fraud in organizations. Your views have raised awareness on this important topic.
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greetings dear @danish578, you are right to prevent scams are transcendental for the future of the company.
thank you very much for your comments
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Thank you, friend!
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Internal and external forces stand a chance of defrauding and therefore ruining the company if there is no administrative strategy in place to ensure adequate protection as well as smooth running.
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greetings dear @bimbo45, it is very true your opinion, everything will depend on the degree of effectiveness of the processes and tools that are applied to ensure that there is no internal fraud and less external.
thank you very much for your comments
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