Free Anonymous Fraud Tip Line
According to the Association of Certified Fraud Examiners (ACFE), the single most effective tool in detecting fraud is an anonymous tip line. 42% of fraud and embezzlement is caught by an anonymous tip while only 3% is found by a traditional audit.
FiduciaSolutions is proud to offer access to a Tip Line available free to all organizations that register annually.
- Identification Code: Any organization that registers for the FiduciaSolutions Tip Line is given a unique code.
- This code should be communicated company-wide by the leaders of the organization to convey a vigilant, anti-fraud Tone at the Top.
- If an individual wishes to leave a tip, the identification code is used to reference the organization along with a detailed description of the scheme and the alleged perpetrator(s).
- Within two business days, one of your organization’s designated contacts will be alerted.
- FiduciaSolutions Tip Line posters are available to be downloaded or delivered to each registered organization. A set of three 12” x 15” professionally printed, glossy posters can be ordered for $15.
- The presence of posters promoting the FiduciaSolutions Tip Line in the organization enhances the Perception of Detection.
- All organizations must register for the FiduciaSolutions Tip Line annually.
This in-depth program is designed with minimal operational disruption and cost compared to traditional methods of establishing similar financial control systems.
How does it work?
- Clients register for the FiduciaSolutions Tip Line and promote it within the organization using posters and other means of communication.
- Access to our Website is given to a client administrator to electronically distribute automated surveys within the organization. These surveys take about 15 to 20 minutes and can be completed at the employee’s discretion.
- Upon completion of the assessments, the data is compiled, analyzed, and compared to our controllership model. A scorecard is generated indicating areas of strength and weakness.
- Consultation with one of our CPAs or specially trained accounting staff follows to discuss results.
- An analysis with customized recommendations for improvement is completed. Included in the report is a detailed process map visually displaying fund inflows and outflows including areas of risk and offsetting control points.
- The organization chooses which areas are most important and quarterly self-assessment protocols are designed to periodically verify effectiveness and compliance.
The FiduciaSolutions Comprehensive Program is recommended with all new client engagements and is encouraged to be repeated every five years. Pricing for the FiduciaSolutions Comprehensive Service varies due to the size and complexity of each organization. Charitably focused, nonprofit organizations receive discounted pricing to help strengthen and to protect the dollars meant for the most vulnerable in our communities.
Please contact us to explore how FiduciaSolutions Comprehensive Service can help to secure your organization.
Every year new schemes to steal are revealed. While no organization can ever be completely risk free of fraud and embezzlement, having the FiduciaSolutions integrated process is a solid place to start.
In years two through four following application of the FiduciaSolutions Comprehensive Program, it is important on an annual basis to evaluate the controls, verify compliance, and ensure the financial controls still fit the organization.
How does it work?
- Re-registration of the FiduciaSolutions Tip Line is the first step.
- With the FiduciaSolutions Annual Review, clients repeat the survey assessment process to generate an Organizational Controllership Scorecard.
- One of our CPAs or specially trained accounting staff consults with the organization according to the results of the surveys and overall performance score. Input and feedback from staff and management is also considered.
- The resulting compilation of data with suggestions for changes or modifications to the controls or financial processes is presented in a report.
Your FiduciaSolutions Consultant can answer any questions and work up a renewal. Please contact us to schedule your organization's FiduciaSolutions Annual Review.