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whistleblowing system Archives - Canary Whistleblowing System: Most Effective Fraud Detection Tools

whsitleblowing system

Effectiveness of Website-Based Whistleblowing System

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For many years, telephone-based whistleblowing was considered to be the most popular complaint channel. In recent years, many companies have shifted to website-based whistleblowing. According to Report to The Nation 2020, the use of website-based whistleblowing has fairly increased in just over two years by 11%, from 23% to 32%. acfeinsights.com conducted a survey during the Anti-Corruption Conference in 2016…

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costliest fraud

What Your Company Can do to Deter the Costliest Fraud

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In 2019, Garuda Indonesia airlines were proven to have manipulated their financial statements. As reported by Okezone.id, the Garuda Indonesia Group posted a net profit of USD 809.85 thousand or equivalent to Rp11.33 billion. This figure jumped sharply compared to 2017 when they suffered a loss of USD 216.5 million. However, their financial statements caused a polemic until they were…

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whistleblowing protection

Does Your Company Need to Provide Financial Incentives for Whistleblowers?

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On April 1, 2019, White House Security Adviser Tricia Newbold revealed that there were serious violations in the administration of security permits against a number of US President Donald Trump’s staff. As reported by AFP and Sky News, the refusal of granting permission to access confidential documents is related to conflicts of interest, personal background, to involvement with other countries….

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financial record fraud

The Whistleblowing System in Preventing Financial Statement Fraud

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The pressure of achieving business targets under the global crisis may drive employees to falsify financial statements.  An executive level employee may make a falsified financial statement to hide the company’s bad financial circumstances due to significant unachieved business targets. Or an employee may see the relaxed control during the crisis as a perfect time to embezzle or corrupt the…

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whistleblowing

Early Fraud Detection in Higher Education Institutions

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Higher education institutions are often seen as hubs of advanced ethical thinking, so the idea that universities can also commit fraud is hard to believe by our community. In fact, fraud can occur within the scope of educational institutions and even research institutions. Fraud in higher education institutions According to a study released by the Association of Certified Fraud Examiners,…

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whsitleblowing

A Whistleblowing System to Create Good Corporate Governance

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The dynamic business world requires companies to be flexible and able to respond quickly to changes in the market. Especially when the world is facing the Covid-19 pandemic as it is today. Given this dynamic condition, companies are required to consistently implement Good Corporate Governance (GCG). According to the Business Dictionary, Corporate Governance is the framework of rules and practices by which…

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whistleblowing

Whistleblowing: 5 Measures Companies can take to Decrease the fear of Retaliation

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It is no secret that employees who blow the whistle on wrongdoings are often subjected to horrendous retaliation. This ranges from ostracism, intimidation, dismissal, to harassment and more. Despite the existence of the whistleblowing system, retaliation often causes employees to be reluctant to report important issues and this would lead to a greater loss for the company as the wrongdoings would remain undetected. However, a survey by the Ethics…

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