Understand the law and other regulations. Conduct a risk assessment. Set the tone top-down. Always conduct due diligence. Keep reviewing your policy. Communicate and train. Always protect whistleblowers. Monitor and review. What are the Four 4 Types of Corruption as Per Law Corruption can be defined and categorized in different ways. The most common types…
The primary purpose of internal controls is to help safeguard an organization and further its objectives. Internal controls function to minimize risks and protect assets, ensure accuracy of records, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws. What are the Internal Control Strategies as Per Law There are four possible strategies…
According to a online survey study, the following factors have been attributed as causes of corruption: Greed of money, desires. Higher levels of market and political monopolization. Low levels of democracy, weak civil participation and low political transparency. Should We Get Rid of the Corruption as Per Law in Pakistan The better solution is to…
According to Lawkidunya, Methods Used to Detect Corruption as Per Law in Pakistan. Bribery and corruption can be detected via: Forensic audits. Anti-corruption programs, which are policies and procedures that (among other things) help assess and deal with bribery and corruption. Looking out for red flags, such as one contractor constantly winning a bid. What…
As per Lawkidunya, Internal Controls to Prevent Corruption. Broadly, “internal controls” refers to systems of policies, procedures and practices to prevent, detect and respond to issues, errors and irregularities. Systems of internal control can be very effective in addressing corrupt conduct, which is the focus of this quick guide.