04 December 2018 | Story Valentino Ndaba | Photo Pixabay
Fraud , fraud awareness week
Rooting out fraud and corruption was the topic of interest at International Fraud Awareness Week.

The Zondo Commission into state capture, the Nugent Commission into tax administration and governance by the South African Revenue Service, and other commissions of inquiry are evidence that fraud and corruption are critical issues that disrupt law and order in South Africa. Political and administrative leaders convened in Bloemfontein as part of International Fraud Awareness Week which is observed from 11 to 17 November 2018.

Speaking at the seminar themed: Lessons learnt to shape our future, Nick Olivier a Certified Fraud Examiner who represented the University of the Free State (UFS) Business School, advocated that:, “Public servants show character and integrity at a higher standard than the rest of the population because they are the gatekeepers in South Africa’s fight against fraud and corruption.”

Why is awareness important?

MEC for Finance in the Free State, Elzabe Rockman, reiterated the expression, saying ‘it takes two to tango’ to drive home the point that “fraud does not happen in isolation. Both parties are equally responsible”.

She added that the collective effort of fighting fraud and corruption should focus on implementing effective consequence management. “Let us implement consequence management effectively, whether that means corrective action, advice, or people might be out of work. There are consequences and we have reached that stage where it is no longer negotiable,” said the MEC.

Rockman also called on stakeholders to be more proactive. “Let us join hands and realise that the negative impact of fraudulent activities is not in anyone’s interest. The impact on service delivery has been disastrous in many instances.”

Long walk to fraud management freedom

Jonathan le Roux, president of the Association of Certified Fraud Examiners SA Chapter, shared insights from an internal audit perspective titled: The Long Walk to Fraud Risk Management Freedom. Le Roux highlighted the significance of International Fraud Awareness Week by outlining how it affects the self, others, industries, the region, country, and the globe.

Other stakeholders who united against fraud and corruption were , PricewaterhouseCoopers (PwC), the Free State Treasury, as well as Standard Bank.

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