Sunday, May 25, 2025

10:45 - 11:30

Eureka room 1

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Details

This presentation provides practice owners with essential knowledge to protect their businesses through targeted prevention strategies and early detection techniques. The Problem Internal fraud within general practices represents a substantial yet underreported financial threat, with average losses approaching $85,000 per incident. Smaller practices typically lack sophisticated financial controls, creating heightened vulnerability despite lower transaction volumes.

Learning Outcomes: • Identify at least four high-risk operational areas within general practice settings that create vulnerability to internal fraud, applying a structured risk assessment framework to their individual practice circumstances. • Implement a minimum of three preventative control mechanisms specifically designed for smaller general practices, including appropriate separation of financial duties and owner-level oversight processes that require minimal time commitment. • Recognise early warning indicators of potential fraudulent activity through analysis of financial patterns, staff behavioural changes and documentation inconsistencies, leading to prompt investigation and mitigation of risks to practice financial sustainability.

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Speaker