Companies with effective tip-off lines detect 46% of fraud and corruption and related mismanagement aspects. Only 15% of fraud and related aspects detected through internal audit processes and a mere 13% detected through management review.
Many employees and clients have knowledge of dishonest or irregular activities but the absence of clear reporting mechanisms, without exposing themselves, results in many undetected irregular and fraudulent activities to thrive.
Currently, the South African Law only requires listed companies to have some sort of whistleblowing service for their employees and clients. Presently, there is no such requirement for SMEs and due to the cost of these services they simply don’t subscribe. XTND developed and utilises an inexpensive whistleblowing Application called ExposeIT which can be used to inform employers anonymously about irregularities evident in the business. This Application also allows for the attachment of video clips, photos, files, documents, etc.
ExposeIT is a unique solution and a first for Africa. During the development phase of the ExposeIT application for deployment on both Apple & Google Play Stores, XTND consulted regularly with the Ethics Institute of South Africa, as well as the legal experts in relation to Protected Disclosures legislation around the globe in order to ensure that ExposeIT meets the specifications of both legislation, as well as international best practices.
The following important element are embedded in the solution:
- Reporting infrastructure: new age hotline/tip-off line functionality which plays an integral part of a company’s corporate compliance and ethics programs.
- Anonymity and confidentiality guaranteed reducing risk of retaliation.
- Availability/Access to the reporting channel 24/7/365.
- Internal/External monitoring and response capability: record, analyse and report.
The installation of this unique desktop application, training to enable a “super user” to respond/converse with whistleblowers, the customization of the dashboard for reporting purposes, as well as the navigation of the desktop application to address unique requirements takes less than three hours.