
Audio By Carbonatix
Assistant Manager of the Risk Advisory Department at Deloitte Ghana, Monita Derby, is entreating businesses to segregate procurement processes in their operations to reduce the instances of fraud.
According to her, it is important to put in place the needed controls and measures that would curtail or block opportunities that would lead to fraud and embezzlement in organisations.
Speaking on the JoyBusiness Masterclass show on Joy Fm, Mrs. Derby, posited that leaving procurement processes to an individual’s provides the opportunity for some workers to siphon funds in the discharge of their duties.
“If you’re an institution where you don’t have the measures in place that would help prevent or detect the fraud. For example, someone is requesting money to purchase something within your organisation, the person requesting the money is the same person that would make the approval and sign the cheque; they are likely to bypass measures and execute the fraud”.
“The pressure and the rationalisation fall with the individual. They are thinking about it but if you put the right control measures in place, it can help mitigate the risk”, she said.
She furthered that the bedrock of mitigating the occurrence of fraud is improving openness and transparency in interactions with stakeholders, underpinned by integrity and ethical behavior by all employees and professionals.
This she believes will ensure the continuity of businesses and provide an avenue for growth and expansion
Latest Stories
-
‘The slopes are too steep’ – Urban planner warns unsafe buildings are still being approved
22 minutes -
‘Big Men’ are taking over protected lands – Urban Planner blames political influence
45 minutes -
Top Boy actor Micheal Ward raped woman in car, court told
1 hour -
Michael Jackson movie becomes highest-grossing biopic of all time
1 hour -
Nollywood actor, Hanks Anuku breaks silence after viral Abuja video
1 hour -
I quit acting because pay was nonsense – Deyemi Okanlawon
2 hours -
Lethal Weapon actor Danny Glover reveals Alzheimer’s diagnosis
2 hours -
US, Iran talks conclude in Doha, focused on Strait of Hormuz
2 hours -
German prosecutors arrest man accused of ordering killings during Rwanda genocide
2 hours -
World Bank backs Nigeria 2026–2032 plan with $1.25 billion to spur jobs, private investment
2 hours -
South African manufacturing sentiment worsens in June, Absa PMI shows
2 hours -
Oil falls for a third straight day after US, Iran talks conclude in Doha
2 hours -
World Bank approves Morocco clean energy project after ending climate lending target
3 hours -
Balogun scores and is sent off as US reach last 16
3 hours -
Government begins process to bring home Ghanaian killed in South Africa
3 hours