Even the best compliance programs struggle with the potential for a fraud incident. When an employee reports a major fraud infraction, whether through a personal report, internal hotline or through the whispering of the rumor mill, every company should have a procedure in place to handle an investigation into financial wrongdoing.
http://liarcatchers.com/fraud_investigation.html
It is important to recognize that compliance programs fail despite your company’s best efforts. Your company’s next steps are what matters most. The next steps should include:
Determine whether the allegation is credible.
Notify the proper chain of command to handle the initial inquiry.
Begin an investigation immediately.
If a full investigation is needed, decide if it will be done internally or if an external resource, such as an attorney, private investigator, computer analyst or forensic accountant is needed.
Gather information and documents.
If outside investigators are involved, engage legal counsel to protect information under attorney-client privilege.
Make corrections in your company’s compliance processes to correct any gaps revealed in the investigation process.
