Fraud Hotline Benefits
In light of current legal developments and increasing public support for corporate
governance, a confidential reporting line should be part of every organisation's
fraud risk management strategy. An anonymous hotline offers an option to those uncomfortable
coming forward face-to-face, to report instances of unethical or illegal behaviour.
Answered by experienced Investigators 24 hours a day, 365 days a year, the
RISQ Hotline© ensures you get the information you need to investigate any allegation.
Benefits of a hotline reporting service include:
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Reduction in fraud, theft and unacceptable behaviour |
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Minimises potential losses through early detection |
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Improvement of morale and safety of employees |
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Peace of mind for those responsible for corporate governance |
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Raising confidence of clients and shareholders |
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Maximising the chance of an organisation uncovering and dealing with issues long
before they become major problems, protecting the organisation's reputation and
profit margin |
It is best practice for employees, clients, and vendors to have an appropriate mechanism
to report perceived problems to management. The ASX Corporate Governance Council
requires Australian businesses to undertake fraud detection and prevention measures,
and the use of a hotline or "whistleblowing" service is a CLERP 9 (Audit Reform
& Corporate Disclosure Bill) recommendation. This practice is mandatory for
US listed companies under the Sarbanes-Oxley Act of 2002.
The RISQ Hotline service includes:
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A dedicated toll-free number and e-mail address to report suspected incidents of
misconduct |
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Experienced investigators handling every call and providing follow-up investigation
if required |
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Timely reporting of disclosures to nominated company representatives |
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Recommendations on corrective action to prevent further incidents |
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Complete assurance of confidentiality and protection for persons making disclosures |
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Low cost deterrent to misconduct |
Implementing and promoting a reporting hotline service will send a clear message
to all staff, suppliers and contractors that compliance is fundamental to the long-term
success of the organisation.
For organisations serious about reducing fraud in the workplace, the RISQ Hotline©
is the low cost deterrent to misconduct.
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