Why consider outsourcing a hotline?
- We have trained and experienced individuals answering calls.
- Having a third party answer calls assures anonymity.
- Employees more comfortable going to a third party.
- The toll free number and web site are already established.
How does the hotline work?
- We provide a toll free number and a web site to report concerns about fraud or unethical practices.
- Access is available 24 hours per day, 365 days a year.
- A report is provided to your organization within three working days of the call.
- Your organization decides what actions will be performed based on the concern.
- A report monitoring the activities of all calls will be maintained and provided to your organization.
Why consider our Fraud Hotline?
- The Association of Certified Fraud Examiners estimates that fraud costs the average US
business 6% of annual revenues. Having a hotline could save dollars.
- It has been proven that nearly 50% of all frauds are known by other employees or customers.
- Management is responsible for having an anonymous reporting mechanism for employees. (Meets Sarbanes-Oxley requirements)
- Incidents typically help find where internal controls could be improved.
- We are trained in interviewing techniques and your business.
What are the benefits of having such a service?
- Just having the service in place will automatically deter fraud.
- Sends a positive message from the top about integrity and "zero tolerance" for fraud.
- Can surface internal and external fraud.
- Having the hotline is a great public relations tool.
- The hotline may save the organization thousands of dollars.
- Helps set the tone for high ethics and integrity.
- Will help the organization meet the new auditing requirements regarding an anti-fraud program.
How is the hotline promoted?
- We provide your organization with posters to be placed in strategic locations in your lunch rooms, conference rooms, etc.
- If requested, we provide a card for every employee with the hotline information.
- We provide a recommended letter to be sent to employees.
- For an additional fee, we can offer training to your employees on red flags of fraudulent activities and other related subjects.
Who in the organization are the calls reported to?
- At least two individuals are required to be listed in our subscription agreement. We recommend the Chair of your Audit
Committee and the CEO receive the reports. You make the decision.
Could the hotline be harmful to morale?
- Surprisingly, this is quite the contrary. Most people want to be part of an honest and ethical organization.
Having a hotline in place helps the employees understand that high ethics are expected.
- The organization can greatly influence the attitudes of the employees by the manner in which the hotline is introduced and promoted.
Correspondence about the hotline should be done carefully and with the intention of maintaining organizational integrity.
Is the hotline really anonymous?
- Definitely yes. The integrity of the program depends on it. Names are never requested and when calls are received
and if names are provided, they are not matters of record.
How many calls are nuisance calls from disgruntled employees?
- This depends on the current political climate of your organization, but in general terms, research has shown that
nuisance calls are typically less than 10% of the calls.
What is the cost of the hotline service?
- The cost depends on the size of your organization. For organizations with up to 100 employees the cost is a mere $50 per month,
for organizations with over 10,000 employees the cost is $350 per month. The cost for the average organization is somewhere in between.
What if a caller does not speak English?
- Our firm offers translators in Spanish, Korean and Filipino. Posters and other literature are available in English and Spanish.
What if an investigation is warranted?
- We can offer investigative services if needed. We can perform the investigation or offer oversight of an internal process.
|