How to plan risk audits

The purpose of undertaking risk audits is to try and identify, record, measure, analyze and report the range of risks which may be present in a specific situation. Risk reporting is very specific to any given situation or event. Risk management assessments will differ for an organization can range from quite simple for a planned one-off event, or more complex if a company is trying to assess risks from conducting a series of programs and events which take place over a long period of time. 

Risk management

 Why are risk audits necessary? 

The purpose of risk reporting via an audit is that unless a process is undertaken to identify risks which may arise, people may be completely oblivious and unaware risks exist. A risk audit goes further than just identify what the risks are. A risk management assessment needs to be undertaken by people with the responsibility to evaluate what the actual risks are and plan accordingly to minimize or eliminate these risks. 

 What are the necessary steps to take when conducting risk audits? 

Planning 

  • Set out the scope for the audit i.e. what situation needs to be audited? 
  • Decide on the best method for gathering information (i.e. interviews, observations, checklists) 
  • Write a detailed procedural document outlining the steps and processes for the risk management audit 
  • Arrange site visits and interviews 

 On-site risk audits 

  • Conduct briefings with personnel involved in the audit process 
  • Conduct site visits, referring to prepared checklists and procedures, observing what is currently in place, what needs to be improved and what areas need a plan to be implemented if it’s evident one is not already in place 
  • Probe an organization’s personnel by conducting comprehensive interviews which seek out knowledge regarding risk management procedures 
  • Check existing policy and procedures and review if they currently meet industry standards 
  • Review any accident and injury log books 
  • Write a detailed risk reporting summary of your main findings 

 What happens after a risk audit? 

  • Analyse the information gathered from checklists, interviews and existing procedures. 
  • Prepare a list of identified risks and evaluate the severity of each one 
  • Prepare a report on the identified risks and suggest strategies to deal with the risks 
  • Write a detailed report and present your feedback and findings to relevant personnel within the organization 
  • Decide on the next steps in the process and set a date for the next risk audit review 
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How Does an Employee Get Away With Corruption

It’s a scary thought, but thousands of employees across Australia engage in corrupt activities each year. Of these thousands, only a handful are actually caught in the act, often through a corporate investigation by investigation specialists. After intense corruption management, they are usually dismissed immediately from the company. Some employees are fined, while others face jail time. What about the thousands that aren’t caught? How does an employee get away with corruption?  One of the key things that businesses fail to do is prioritize security auditing. With audits, a business is able to identify the strengths and weaknesses in their current system. Too many weaknesses in a business’ system create opportunities for corruption. Let’s have a look at potential weaknesses that result in employees getting away with corruption.

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No security auditing, no protection

If a business doesn’t consider security audits, they may as well hand their assets over. Using investigation specialists gives your business a step ahead of the rest. They are able to identify flaws in security, and with their experience in corruption management, they know what to look for. They know what works and what doesn’t. Regular security auditing keeps a business strong and protected. Without doing so creates an opportunity for some employees to engage in corrupt behavior. They know they’re not being watched, so they’ll proceed to gain while the business loses.

Business risks aren’t identified or managed

An employee can get away with corruption if there are too many business risks. Investigation specialists are experts in conducting a well-managed corporate investigation. They work to minimize any evident risks. If you haven’t considered hiring the expert, your business risks won’t be identified or managed. There may be a lot more problems with your current security system than you had previously thought. 

The absence of security measures

If you don’t have any security measures or processes in place, your employees will find it easy to engage in corrupt behavior. Investigation specialists, who specialize in corruption management, know that absent security is a huge risk. Employees can take advantage of the fact that they aren’t being watched or monitored. Installing top security and having specialists manage a corporate investigation will make it extremely difficult for any wrongdoing by your staff.

Security isn’t a priority to the business

Employees who engage in corruption aren’t silly. They know when a business doesn’t consider business security to be a priority. They can use the absence of security to their advantage, signing off on paperwork and exchanging goods. The process makes it much easier for crime to take place. Corruption management won’t be necessary if you ensure security is a top priority in your business. If you suspect corruption, hire the investigation specialists to undergo a corporate investigation. Stamp out corruption in your business and start again with the strongest security possible. Don’t let your employees get away with a business crime.

 

How Fraud Impacts the Mining Industry

When we talk about business security, the topic covers a wide range of areas. Various forms of security are important for protecting a business. Without security, there are a number of business risks that may pose major problems in the future. When you get down to the nuts and bolts of protecting a company, it may be necessary to undergo a corruption or fraud investigation. Investigations are necessary to stop criminal activity or theft and save a business. Some industries may suffer more than others. For the mining and resources industry, fraud can have major impacts – this article will explain how.

Fraud is a criminal activity that results in financial or personal gain. Often, an employee will engage in fraudulent behaviour, deceiving their employers or coworkers. Business risks like these can completely break an organisation, no matter what industry it lies in. A fraud investigation, undertaken by investigative specialists, is the best way to resolve crime. An investigation finds out who is responsible, what has happened, where it took place and why. Finding information and obtaining evidence is the best way to recover from fraud.

In the mining and resources industry, a fraud investigation can save a business thousands of dollars. If a business suspects fraudulent activity, it’s better to have it checked than to ignore it. Even though these business risks might not pose great problems presently, they could become major problems later. Illegal activity, such as fraud, will always be uncovered. It doesn’t matter if it’s next week, next year or in five years. If it’s found that there are several employees involved for a long period of time, it could have even greater impacts.

If a mining and resources business expects to move forward and grow, they have to get rid of any criminal activity. The industry has high business risks because they operate in high risk regions, undergo tough restrictions and require strict licensing in order to operate. Fradululent businesses will deliberately deceive other organisations to get what they want. A fraud investigation will detect evidence of crime. Hiring investigation specialists is the best way to investigate fraud. Experts in the investigation field can help a business respond and recover from corrupt behaviour.

A business working within the mining and resources industry needs to act dutifully. They should make every effort to increase their security and reduce business risks. If they suspect fraud, then a fraud investigation is the very first thing that should be done. An investigation is carried out in a discreet manner, so employees and stakeholders unrelated to the incident will not find out. Fraud will destroy a business – not only financially, but also in relation to their reputation and their employees lives. Even the most subtle hint of fraud suspicion should be looked at. There’s no harm in protecting a business to the absolute maximum.

What To Do When You Suspect Fraud or Corruption

Nobody wants to deal with fraud or corruption in the workplace. It’s illegal, it’s damaging and it’s frankly embarrassing. If you’re knowingly involved in fraud or corruption, you will be caught sooner rather than later. If you know someone engaging in fraudulent behaviour, you should do something about it. Thankfully, there are investigation specialists out there who specialise in corporate investigation. Ensuring business security should remain an ongoing priority for businesses worldwide. If you don’t have restrictions, rules and regulations in place, you may be at risk of corruption. Here’s a guide on what to do if you suspect fraud or corruption.

Stop and think

Before you go running to the whole world about the breach in business security, stop and think. There’s no reason to panic. Yes, corrupt workplaces have devastating outcomes, but investigation specialists can help. Before you start pointing fingers, it’s a wise move to undergo a corporate investigation before anything else. It can be tempting to jump the gun and do things without thinking. First, find out the facts. Then, call in experts. Gain as much information and proof as you can to support your suspicions.

Be proactive

It’s scary but it’s true. There are many businesses out there who are aware of corruption in their workplace, but they do nothing about it. It’s important for the future of your business and for your staff that you do something about your suspicions. Ignoring the problem doesn’t mean corrupt or fraudulent activity will just go away. Even if the behaviour has stopped, something still happened and it could affect a lot of people in the long-term, later down the track. Take action, call the investigation specialists and review your business security.

Be hush hush

Whatever your suspicions or whatever you have witnessed, you need to speak with professionals. Avoid spreading the details to other staff members or clients. The best approach is to undergo a discreet corporate investigation. Hiring professionals to do this ensures that the investigation is kept private, professional and efficient. Using investigation specialists also means you are going to get results fast. They can handle everything from start to finish. Equipped with a wealth of industry knowledge, investigation specialists know the best methods.

The most important take home message from any corruption or fraud investigation is to learn from the situation. Start by getting help and find out ways to improve your business security. Rehire staff if you don’t feel you have a strong team behind you. Review your processes, make positive and useful changes, and set a great example for your team.

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6 Business Risks You May Not Know About

When it comes to business risks, a lot of people tend to misinterpret what they are or mean.  A business risk is something that may or may not prevent a business from achieving a business goal.  There are many risks faced by all businesses which are either controlled or not.  Usually a risk audit can determine what risks are in the control of the business or not.  A business will need to take a risk to achieve a business gain.  This is where risk management comes in.  It strives to make effective use of the risk-reward ratio.  We’ve put together eleven common types of business risk you may not know about.

Competitive risk

Competitive business risks are those where there is competition involved.  That is, a competitor stops a business from reaching their goals.  They may have better products or lower prices.  These are major advantages over the businesses that can’t offer this. 

Operational risk

We see operational risk when something has failed in its daily operation.  Examples of these include human error and customer service.  A human error could result in a malfunction and could damage the business’ reputation.  There may be a flaw in customer service training, resulting in poor outcomes.  A risk audit usually examines the efficacy of the risk response and risk causes.  

Reputation risk

Reputation business risks occur when there is a decline in reputation due to an incident.  You may see loss of trust in the business because of dishonesty and disrespect.  

Innovation risk

Innovation is all about revolutionising the business through designs, technologies and processes.  To reap rewards, many innovation risks are usually taken as a trial-and-error.  Risk management practices may need adapting to find out what works and what doesn’t, for a low cost.

Resource risk

A resource risk is one that stops a business from meeting their goals.  It’s usually because of a lack of resources such as: finance, labour, materials and other assets.  Risk management may focus on ways generate more funding for resources.

Seasonal risk

Businesses located in tourist spots are prone to seasonal risk.  That is, they may have high revenue in the peak season and low revenue in the low season.  

The project manager is the person responsible for the undertaking of a risk audit.  They usually call upon an external risk and investigation group to do this.  An audit ensures that the business is proactive in managing any risks.  Get in touch with the expert investigators at Global Risk and Investigation Group.

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Four Things to Know About Security Audits

Security audits vary depending on the situation and the type of organisation.  Some audits are undertaken on computer systems to test the level of defence against hackers.  Other audits are physical in nature and assess how secure a business is and what business risks it has.  When it comes to conducting audits, it’s all about maintaining top business security.  If a business isn’t protected, it might risk confidential and sensitive data.  It might allow hackers to attack systems.  It might disrupt the integrity of the organisation if staff partake in illegal activity.  We’ve put together four things that you didn’t know about security audits and how you can get the best out of one.

Security audits attempt to answer many questions

Security audits are all about assessing business security.  To identify the business risks present, an audit will aim to answer many questions.  If the staff members can answer the questions honestly, then the audit will be more accurate.  The audit targets passwords, accessibility, recording of information, devices and accounts. It’s important to find out who has access to certain devices and rooms in the business.  An audit finds out how much information gets recorded and who has access to the data.  In answering these questions, an audit will reveal the security level of a business.

They don’t happen once only

Your business security is important.  Without top security, your business risks increase.  Businesses are ever-changing.  The same goes for computer programs and systems.  Staff members come and go, clients change and processes improve.  With that in mind, it’s important that audits are undertaken often.  They should get done every six months or so to re-evaluate the level of security.  

Audits can happen anywhere and anytime

Audits happen in various industries.  From mining industries to financial industries, they all identify business risks.  The goal is to identify weaknesses and create strategies to fix these weaknesses.  Whilst an audit can happen at any time, it’s important to have all the information available for the audit.  This means that paperwork should be up-to-date.  Information about who has access to what should be available.  Video surveillance and other recording devices should get surrendered.  Every piece of information helps create an effective security report.

There are specialists who conduct security audits

Security audits audits are best done by those who specialise in business security.  They know how to conduct an audit, what questions to ask and what to look out for.  They can create a comprehensive report and provide advice.  If you’re looking to undertake an audit for whatever reason, speak with professionals.  Experts in safeguarding organisations, the Global Risk and Investigation Group can help.  They provide a range of services that strive to protect your company, assets and profit margins.

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Is Your Company Corrupt?

Whether you’re fronting the business or working for one, you may or may not know about corruption.  Corruption is the dishonest act of those managing an organisation, mostly involving bribery.  This means that the ones with power in the organisation use money or other incentives to influence the judgment of a trusted member of society.  In the event of suspicious behaviour, it is crucial to undergo corruption management.  Specialist investigators can gather evidence around any allegations or suspicions.  A whistleblower investigation is necessary if someone has come forward about illegal activity. A whistleblower is someone who raises the alarm and exposes illegal or immoral activity done by others. In this case, a thorough investigation will take place.  Using a variety of techniques, such as analysing the business security devices, to uncover the truth.  

If you are a witness to corruption or bribery, you’ll hear or see certain things that will raise suspicion.  The best policy is to instead of confronting those who are involved and see what’s going on, take a closer look.  Take as many notes and evidence as you can, but don’t wait too long.  If you further suspect illegal activity, it’s appropriate to take it further.  An external business security company can come in and conduct a whistleblower investigation.  It is critical that those who are involved in corruption or misconduct be identified as soon as possible.  The only way to stop the behaviour is to eliminate those who are involved.  Investigators will undertake corruption management in a discrete manner.  

If your company is corrupt, an external contractor will use highly trained investigators to gather evidence.  They will use a variety of strategies, such as installing technical surveillance countermeasures.  This includes listening devices and covert cameras.  It’s important that investigators secure enough evidence against the corrupted members to use in court.  Other techniques used include: forensic accounting and computer activity analysis. They will also trace the handling of paper documentation.  If you suspect your company is corrupt it’s better to get it looked at before waiting for too long.  If you know something and you don’t say something, you could be assumed involved. 

Corruption management isn’t important just for eliminating bad behaviour and illegal activity.  It’s important to protect employees, clients and their families.  While the company might suffer for a short- or long-term period, it’s much better in the long run.  A whistleblower investigation is undertaken in complete discretion.  This means that although you may be the whistleblower, no one has to know this.  If you need help to investigate suspected workplace misconduct, call the experts.  Business security should remain a priority for all organisations.  If you suspect illegal activity, you must report it as soon as possible.  Any evidence that gets collected is accepted in court and can be used against the accused.   

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