-Vice-Chairman Dookhoo
VICE-CHAIRMAN of Guyana Water Incorporated (GWI), Mr. Ramesh Dookhoo has reported a significant reduction of theft due to the utility’s anti-fraud policy.
Advocating that it is a model that can be emulated by other entities, he told the Chronicle that it has proven very successful.
“GWI started from a position where there was no functioning fraud policy in place and, with the help of the (British) Department for International Development (DFID), we were able to implement an anti-fraud policy,” Dookhoo disclosed.
He lauded the efforts of GWI’s Chief Executive Officer (CEO), Mr. Yuri Chandisingh.
“The current CEO is a person of high integrity, in my view, and he ensures that there is zero tolerance, be it a contractor or employee or any other stakeholder. Everyone faces the full brunt of the law,” Dookhoo said.
He acknowledged that involvement of law enforcement is often not a path that most companies want to take, considering the losses they are likely to incur.
“The most important aspect of the non-prosecution for fraud is the loss of face by institutions and companies and the unpreparedness of institutions to deal with and disclose fraud,” Dookhoo opined.
“We need to create an environment that encourages the free functioning of an unhindered unintimidated audit department that is accepted by the Board and Management and, in turn, is guided by a set of rules of engagement that are understood by all line managers,” Dookhoo recommended.
He said there is nothing different about the anti-fraud policy but rather it is a reminder that everyone should be good and honest citizens, discharging their duties in a professional manner and not be tempted by rewards that have errant risks attached.
“What the policy does is increases the risk of being caught if you are perpetuating fraud. If there are no risks, people will steal and commit fraud. If risks are heightened then fraud will reduce,” Dookhoo maintained.