One of the transparent ways in which frauds and corruption can be prevented is the ‘financial disclosure programme’. This programme may be insisted upon by the terms of employment contract or introduced as voluntary programme within the organization. Whereas most governments, United Nations and multi-lateral development banks do require the periodic financial disclosure from their employees, it’s the manner in which it is handled that matters most.

Managing financial disclosures involves periodic collection of information on acquisition and sale of shares and stocks, moveable and immovable assets, and conflicts of interest vis-à-vis the organization. It also involves analysis and dialogue with the employees as regards issues that need clarifications. Traditionally, these programmes are managed by the in-house legal or HR departments, but over the years, most entities find outsourced services to be more professional and acceptable to the employees.