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Business | Frauds & Scandals

The Anonymous 360-Degree Whistleblower

Mar 04, 2021   •   by   •   Source: Proshare   •   eye-icon 819 views

Thursday, March 04, 2021 / 11:30 AM / by Deloitte /Header Image Credit: knowledge.wharton

 

Most whistleblowers find themselves on thefiring line for turning the spotlight on unethical practices, especially whentheir identity is given away by the recipients of their reports. Consumed withthe fear of victimization and job loss, an employee who could have blown thewhistle on an unethical practice may decide to turn a blind eye to suchmisconduct.

 

This disposition accounts for why companiesthat are cracked up as too big to fail find themselves on the wrong side of thelaw, experience cash flow problems, grapple with reputational damage andultimately file for bankruptcy.

 

Based on the 2020 survey conducted by theAssociation of Certified Fraud Examiners, tips were reported as the most commonway of detecting occupational fraud. Tips have the highest percentage score of43%, followed by an Internal Audit review, which was rated 15%. These statisticslend credence to the importance of tipoffs in cropping the perpetration offraud or misconduct in the workplace.

 

In taking this a notch higher, companiesthat are poised on maintaining an ethical workplace are beginning to subscribeto an anonymous reporting platform. This is considered a stellar approachcompared to directly reporting to a line manager, who might be conflicted orconnected to the case being reported. Hence, the recipe for boosting employees' morale in speaking up on misconduct is to deploy an anonymous reportingchannel.

 

Downloadfull article Here - TheAnonymous 360-Degree Whistleblower.

  

Credit:

Thisarticle was first published in The Guardian Newspaper on March 2nd,2021 and then in Deloitte on March 3rd, 2021



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Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.



 Proshare Nigeria Pvt. Ltd.

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