12 August 2011 #Employment
Leading advisory firm, Ernst & Young are advising employers that the best way to identify fraud within their business is to send employees on extended holidays. Apparently, whilst the employees are away their colleagues are more likely to discover any irregularity. They believe that by forcing employees to take a break of at least two weeks fraud in Britain could be reduced by millions of pounds per year.
Jonathan Middup, a Partner in the Fraud Investigation & Dispute Services practice has said:
"We see a clear increase in fraud detection where companies enforce a compulsory two week break over summer. Perpetrators are away and not able to cover their tracks easily. Frauds, such as accounts manipulation that are covered up in the course of the year are often spotted when colleagues take over and notice something is not quite right."
"The profile of a typical fraudster is a long serving, trusted employee, who works long hours and is reluctant to take their annual leave. Without doubt, one of the most simple and cost-effective anti-fraud measures is to ensure employees take at least two consecutive weeks holiday."
The Ernst & Jones website advises employers to take the following steps to combat fraud: