Services > Whistleblower Systems > Service Overview
Section 301(4) of the Sarbanes-Oxley Act (“SOX”) requires Audit Committees to establish procedures for the collection and resolution of employee complaints covering an extremely broad range of financial and accounting control issues. The system must allow for anonymous and confidential submissions.
Whistleblower reporting systems are widely considered a best practice for nonprofit organizations. Form 990 now includes disclosure whether the nonprofit has adopted a whistleblower collection mechanism.
Fulcrum can help you avoid the following pitfalls:
- Most internal whistleblower solutions (when either collecting or investigating complaints) provide an unacceptably high risk of encouraging retaliation claims. Any money saved by using internal resources is immediately lost when the first retaliation claim occurs.
- By relying on a single collection vehicle (phones), “hotline” services provide an incomplete and mechanical solution that unnecessarily constrains communications.
- By using inflexible and overly simplistic scripts/forms, most outside vendors fail to collect important information.
- By using unskilled personnel to collect the complaints, uninformed or prank calls waste investigation resources, rather than being quickly identified for what they are.
Why We Are Better
Fulcrum uses trained forensic accountants to provide a unique and creative approach. Fulcrum’s solution includes phone and internet-based collection techniques. Hotline and internet-based companies cannot match Fulcrum’s ability to
- Quickly identify uninformed or prank complaints;
- Gather sufficient information to ensure that investigations and other follow-up are complete and efficient;
- Provide a complete solution, rather than simply turning the problem over to you.
Fulcrum’s solution has every feature one would realistically need-here’s a list.
Fulcrum’s solution costs as little as $800 annually. Most other whistleblower solutions cost more both initially and in the long-run than what we provide. Read our article to learn more.