Red Flags
Introduction
Red Flags are warning signs that emerge in the routine operation of business process which by themselves may not constitute cases of fraud or corruption but indicate an area where management oversight is required to safeguard against fraud and corruption.
Accounts
1. Missing vouchers (e.g. receipts, invoices) or vouchers are not issued in sequential...
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Inventory Management
1. Exceptionally high consumption rate of an inventory item.
[Potential malpractice: A ...
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Sales Operation
Frequent use of the same membership card for earning bonus points within a short period of...
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Procurement – Bidding and Contract Award
User department or technical staff insisting on using
a particular brand or supplier despi...
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Procurement – Payment and Receipt of Goods / Services
Frequent payments just under a certain authorization level.
Multiple invoices on th...
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