Minimising fraud exposure

Fraud poses a threat to any business, with official estimates putting the annual cost to the UK economy at more than £50 billion a year.

Alongside traditional types of fraud, such as identity fraud and internal fraud, cyber-enabled fraud – committed via computer or other information technology – is growing rapidly.

However it takes place, fraud is doubly damaging for its victims through both financial loss incurred and the time and resources that have to be diverted to deal with its consequences.

In tackling the problem, prevention is always preferable to taking action after fraudsters have damaged your business. A key step is to ensure risks relating to the controls, processes and activities of your business are minimised.

Vista Audit can assist you in reducing exposure to fraud by carrying out bespoke fraud risk assessments and advising on ways to strengthen internal financial controls and accounting processes so that they are better able to detect and prevent fraudulent activity.

Fraud prevention is an ongoing process so a regular audit by Vista Audit will also give you timely information to ensure that your systems and processes remain robust and fit for purpose. By taking proactive action in this way, your organisation will put strong defences in place to act as a deterrent against potential fraudsters.

For more information on Vista Audit’s services in Surrey, please contact us.