Fraud is on the rise. “We know that every organization is going to face attempted fraud at some point in their existence,” Andi McNeal, chief training officer at the Association of Certified Fraud Examiners, told CFO Brew. And CFOs, who spend so much time with financial data, may be among the first to spot it. But if CFOs come across suspicious transactions or patterns of behavior that throw up a red flag, what should be their first move? Just like most employees, they should formally report their suspicions to the appropriate party, be that a hotline, HR, or a corporate security team, McNeal said. Bringing the concerns to the individuals responsible for taking such reports “is by far the first and most important thing that should be done,” she noted. If you’re concerned that senior leadership could potentially be involved in fraud, “go straight to those charged with governance, whether it’s the board of directors or an audit committee,” McNeal said. Keep reading.—CV |