Safeguards that may eliminate or reduce the various threats to an acceptable level fall into 2 categories:
(A) Safeguards created by profession, legislation or regulation.
ü Corporate governance regulations.
ü Professional or regulatory monitoring & disciplinary procedures.
ü Educational training & experience requirements for entry into the profession.
ü Professional standards.
ü Continuing professional development requirements.
(B) Safeguards in work environment.
ü Strong internal controls.
ü Appropriate disciplinary process.
ü The employing organizations ethics & conduct programs.
ü Policies & procedures to implement & monitor the quality of employer performance.