Corporate Whistleblower Initiative

Good intelligence is the best defence. Boards are increasingly being held accountable for actions of management especially fraud and the most common method of detecting malpractice within an organization is feedback or a tip off from an employee, customer, vendor, associate or anonymous source. Ignorance may prove to be expensive. Recent events have shown that business losses from fraud, occupational and white collar crime can not only dent the balance sheet but also the reputation of the organization. Reduces risk of fraud and damage to reputation and business by facilitating timely receipt and action on any information relating to any wrongdoing within the organization. Enhances the capability of capturing risks and acts as a credible in-house early warning system to detect and check malpractices and receive feedback and suggestions on practices, procedures and products. Helps move the whistleblower policy from paper to one which practically assists in fraud detection and control.

Acts as an effective managerial tool for strengthening the internal vigilance mechanism and system of checks and balances within the organization. Complements the internal and external audit system and encourages reporting of corrupt conduct and wrongdoings without any fear of consequences on revelation of identity. Not only helps foster a business culture of honesty, integrity and compliance which is recognized as a key driver of brand, reputation and performance but also helps convey the message that the organization takes fraud and misconduct seriously.

Helps identify the type of fraud or misconduct the organization is vulnerable to and check the adequacy of the internal control systems and risk management procedures being followed by it. Reinforces meaningful commitment to good corporate governance practices through voluntary and affirmative action. Ensures proactive compliance with internal regulations and external legislations and prepares the organization for future legislative change.

Improves efficiency through increased reporting of wasteful expenditure and unproductive practices thereby safeguarding organizational interests, assets and reputation. Acts as a safety valve for the organization facilitating secure and confidential communication. Ensures that you alone receive all the information meant for you with the freedom to decide how to deal with it. Helps you discharge your responsibility and obligation as a model employer and establish an additional channel of communication with your stakeholders without effectuating any change in your existing policies.