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Check out that the accounting standards are followed or not.
All the internal controls are working properly.
Must have internal audit department.
There must be clear authority matrix.
There must be clear policies and procedures.
Accounting work must be properly distributed and keep on rotating among employees.
Cash dealings must be avoided.
The best way to find out financial irregularities and risky area in a multinational organization are well defined in GAAP, GAAP US and GAAP UK, also well defined in IFRS. Also Internal Control procedures can be the best way to find out financial irregularities and risky area in a multinational organization.
