Zero Tolerance to Fraud



Ethical Problems in Companies
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Milan Jagric
Consultant, Slovenia

Zero Tolerance to Fraud

🔥NEW We have zero tolerance to fraud...
In practice, we often come across similar statements. What do we mean by such a statement?
Maybe that we do not allow fraud in our organization? But if so, what do we actually do to make such a statement hold?
 

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Milan Jagric
Consultant, Slovenia
 

Zero Tolerance to Fraud and the Role of Risk Appetite

In my opinion, zero tolerance to fraud is a complete misunderstanding of what risk appetite is. There is a wealth of metrics and information out there that you can tap into to articulate statements in a way which will actually add particular guidance to a business, and you'd be able to measure whether you're operating within those parameters:
What can we say about risk appetite:
- Risk is the effect of uncertainties on an objective,
- Risk appetite measurement (sufficient differentiation, the current risk position, the amount of risk, the residual gap),
- Risk profile (point in time, expressed in relation to risk limits, to be considered for entity, having regard to capital, gross and net risk profile),
- Risk capacity (the maximum level of risk, before it breaches constraints, drivers of capacity, risk maturity),
- Risk tolerance (risk attitude, risk behavior, emotional intelligence),
- Risk limits (quantitative measures, qualitative statements, cascading risk tolerance down),
- Risk statement.

 
1
Jaap de Jonge
Editor, Netherlands
 

Zero Tolerance to Fraud / Mistakes / Risks

Hi Milan, thanks for starting up this interesting ...

 
1
Milan Jagric
Consultant, Slovenia
 

Zero Susceptibility to the Risks of Fraud

I put a zero tolerance for deception on the forear...

 
1
Norman Dragt
Netherlands
 

Abuse of Zero Tolerance Policies

What you often see with 'zero tolerance' policies ...

 
0
cletus u. nwonu
Accountant, Nigeria
 

Zero Tolerance to Fraud is a Hard Nut to Crack

Zero tolerance to fraud is an ethical issue. Fraud...

 
1
Milan Jagric
Consultant, Slovenia
 

Zero Tolerance to Fraud Needs KPIs

I agree, a "zero tolerance" policy itself is not e...

 
2
Ronald Zembe
Interim Manager, Zimbabwe
 

Understand the Difference Between an Appetite and a Tolerance

I advocate that the statement "Zero Tolerance to f...

   

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