Wouldn't it be nice to have a crystal ball or to be clairvoyant in forecasting potential business issues such as internal fraud? Unfortunately the vast majority of us are not psychic and instead have to rely on an investigative function to identify problems, or manage crises after the fact. So, what can we do to be more attuned to emerging problems within our organizations? Here are a few things for internal auditors or security chiefs to think about:
- Organizational intelligence
- Danger signals
Your people are your best source of information. Properly developed and managed, your human intelligence sources can reveal issues before damage has been caused. There are simple processes that can be implemented to provide reliable information on potentially critical issues facing an organization, and thereby front run costly events that typically have to be managed in arrears.
The security chief or internal auditor should establish meaningful rapport with key personnel on the executive management team in both operations and finance. This will provide useful information as to what management's current concerns and... Read More