NO BUSINESS is safe from fraud. This Christmas season, as businesses across Barbados gear up for the hectic rush, there are measures that if enforced can reduce and protect against fraud.
Reginald Farley, executive director of the Institute of Chartered Accountants of Barbados (ICAB), in an interview with the WEEKEND NATION explained that this preparation, however, had to start long before the Christmas season.
He said that the important things were detection, prevention and ultimately prosecution. He said that the culture of the business and whether there were implemented system controls within the business, could enable fraud.
He explained that when it came to fraud, many immediately thought about how to protect themselves from outsiders, but they had to look internally first. (AC)
Please read the full story in today’s Weekend Nation, or in the eNATION edition.
