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What is Fraud?

The Board of Governors is committed to high standards of financial management throughout the organization. Despite this commitment, events can occur which could compromise our standards and jeopardize our fiduciary responsibility. Subsequent damage to the reputation of the University and, of course, the individuals who may be implicated make it essential that Colorado State University-Pueblo have an effective protocol for responding to allegations of financial impropriety and other frauds. The response mechanism must be clear, appropriate, timely and effectively focused if it is to protect both the University and its employees.  We have outlined below how to communicate any potential fraud or misuse of University property or assets to the Internal Auditing Department.

Fraud can be present in any entity including the University. Anyone suspecting improper activities should visit the Compliance Reporting Hotline website

All employees are responsible for reporting any possible improper activities at the University.

Definition

Fraud can be defined as an intentional deception, misappropriation of assets, willful misrepresentation or receipt of unauthorized benefits.

Dishonest or fraudulent activities may include the following:

• Forgery or alteration of documents (transcripts, checks, timesheets, travel vouchers, contract agreements, purchase orders, budgets, etc.). 
• Misrepresentation of information on documents. 
• Misappropriation of funds, securities, supplies, or any other asset (including furniture, fixtures, computers, or equipment). 
• Improprieties in the handling or reporting of money transactions. 
• Authorizing or receiving payments for goods not received or services not performed. 
• Authorizing or receiving payments for hours not worked.
• Personal use of University assets.
• Any apparent violation of federal, state, or local laws. 

Waste and Abuse

We all must be aware of other events and circumstances where inefficiencies and/or abuses occur:

• Mismanagement and waste of funds (i.e.: duplicate processes, unnecessary expenditures.)
• Management override of controls designed to protect assets.
• Standards of Conduct violations (i.e.: violations of personnel and timekeeping policies.) 

Prevention

Prevention of fraud, waste and abuse is everyone’s concern and responsibility. 

Several steps can reduce the risk of fraud occurring or not being detected in the work place.

1. Reduce the opportunity available by implementing strong internal controls.
2. Be alert and report any suspicions immediately to your supervisor or the Internal Auditing Department.
3. Establish a positive environment and set an honest tone from the top.
4. Ensure that all employees are familiar with reporting any potential abuses and understand that every effort will be made to keep their name in confidence.

How to Report Fraud, Waste or Abuse

The responsibility for responding to allegations of suspected fraud or improper activities is generally shared among University management, Internal Audit, the Office of General Counsel, and law enforcement agencies. 

If you are aware of or suspect fraud, theft, embezzlement or misuse of University assets, please fill out the for​m or contact any of the above offices as soon as practical.

Internal Audit

Candice Bridgers, Audit Manager

Staff

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