Protected Disclosure / Whistle Blower Reports

Implementing Effective Protected Disclosure and Whistleblower Programs

Insights from the ACFE 2022 Report
The Association of Certified Fraud Examiners (ACFE) in their 2022 Report to the Nations, analysed 2,110 cases across 133 countries. A significant finding is that 42% of fraud detection originated from tips, predominantly from employees. 67% of these alerts were raised through whistleblower hotlines, using telephone or email channels. These systems, often managed by independent organizations, are vital in medium to large-scale businesses that interact extensively with the public.

Preventive Measures for Smaller Businesses
For smaller enterprises, employee training in recognizing and reporting unethical behaviour is essential. Critical to this process is establishing a secure reporting mechanism, enabling staff, as well as suppliers and customers, to report misconduct without fear of retaliation. ACCA offers expert guidance on formulating and implementing these vital policies and procedures.

Protected Disclosure in the Public Sector
Protected disclosure reports are primarily associated with public sector entities, regulated by specific legislation at state and Commonwealth levels. Mick Symons of ACCA has extensive experience conducting protected disclosure investigations and is well-versed in the nuances of the relevant legal frameworks.

Specialised Approach to Whistleblower Investigations
Whistleblower investigations demand a specialised approach, particularly in maintaining the confidentiality of the informant. Balancing this confidentiality with procedural fairness to the individuals under investigation is a complex task. Mr. Symons has successfully navigated these challenges in numerous cases. Fostering a rapport with informants can be crucial, as it often leads to more comprehensive help in investigations. Mr. Symons possesses the expertise to effectively engage with whistleblowers.

Encouraging Tips from Stakeholders
Tips from employees, suppliers, customers, and contractors helped to uncover unethical practices in the workplace. It is imperative for companies to have clear policy and designated personnel to handle these reports confidentially. ACCA is here to help establish these protocols, ensuring your organization fosters an environment of integrity and trust.
For further assistance in creating a robust and effective protected disclosure and whistleblower program, contact ACCA today. Together, we can safeguard the ethical standards of your business.