New Australian Standard AS 8001:2021 - Fraud and corruption control
On 11 June 2021, Standards Australia released the latest Fraud and corruption control standard, AS 8001:2021. This latest standard now underpins and provides minimum requirements for all businesses large and small within Australia to create, manage and report on fraud and corruption.
Following this latest standard (AS 8001:2021), Standards Australia have set some basic ground rules that should be followed to prevent or minimise the instance of fraudulent behaviour by giving the clear guidance on how to create the framework to report and manage this risk.
Detection and prevention of fraud and wrong doing in the work place is paramount to the success of a business. By developing a process for detection which includes a proper whistleblower system, will ensure that employees and those associated with the business have a path way to provide vital information about issues in the work place. It will give them a voice. A whistleblower management system or disclosure service (Stopline) will allow the discloser to report any misconduct or wrongdoing in the workplace with confidence and anonymity.
Using an internal reporting mechanism is not as successful. There are many examples where business have stated that they have an internal reporting process but nothing gets reported, and when Stopline is involved, the level of reporting increases. The reason is that people don’t necessarily trust the internal reporting because they can’t remain anonymous (in most instances). Why? because people recognise others who make a disclosure report or because the person they have reported wrongdoing or misconduct to, may not understand the information they have been given.
Whistleblower Protection Officers or WPO’s play a vital role in the management of sensitive and confidential information or a disclosure. If a person doesn’t know how to receive and manage a disclosure, there can be serious consequences, especially if they are afforded protection under the new legislation.
Our disclosure reporting process will allow all reports to be managed outside of the business and will ensure that the discloser is given the right level of support, guidance and anonymity when making a report of misconduct or wrongdoing in the workplace.
If you would like to know more about how we can assist with the development of a robust whistleblower management system, please send an email to andrewmcleish@stopline.com.au or call the office on 03 9882 4550.