Corporate Fraud and Corruption: A Holistic Approach to by M. Krambia-Kapardis

By M. Krambia-Kapardis

Recent large-scale company collapses, comparable to Lehman Brothers, Enron, Worldcom, and Parmalat, spotlight the implosion of conventional types of fraud prevention. through targeting hazard elements on the micro point, they've got didn't take into consideration the wider context within which exterior auditors function in addition to the the most important value of such elements as corruption, organizational tradition, company social accountability, moral values, governance, useless law, and an absence of transparency.

Corporate Fraud and Corruption engages readers via exhibiting how evidence-based, multi-level micro and macro research of fraud chance and protecting elements tell powerful fraud prevention, in flip minimizing monetary catastrophes. Krambia-Kapardis makes a speciality of her personal empirical learn into the aetiology of fraud to exhibit a holistic method of fraud prevention. This booklet additionally gains significant case reports from the U.S., the uk, and Australia.

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7 trillion” (p. 4). 20 In comparison, this estimate was only £11 billion for 1998 (Krambia-Kapardis 2002). Fraud “is almost certainly a growing problem” (Smith et al. 2011, 8). Fraud victimization studies have been carried out by accounting firms (Ernst and Young 2013; PricewaterhouseCoopers 2014b) and researchers (Krambia-Kapardis 2002; Krambia-Kapardis and Zopiatis 2010) in an effort to estimate the cost of fraud to the victims. Despite the limitations of fraud victimization surveys (see Krambia-Kapardis 2002), the method is widely accepted for obtaining information on the typologies of fraud (Brooks, Button, and Frimpong 2009).

It has been found that auditors develop trust in a client over time and this trust likely impairs their professional skepticism (Kerler and Killough 2009). Management’s competence and integrity are significantly related to audit risk (Ponemon 1993). Management integrity was also found by Schroeder and Verreault (1987) to be an important factor in determining audit withdrawal as well as prior estimates of the likelihood that fraud existed at the client (Messier, Bernardi, and Bernard 2014). We see that the external auditor’s role in detecting fraud has become more complicated and controversial over the years, but in addition the auditor’s capabilities have been called into question (Fraser and Pong 2009).

Bierstaker, Brody, and Pacini have reported that the most frequently used methods are virus protection, firewalls, password protection, internal control review, and improvement, whereas the least frequently used are forensic accountants, digital analysis, staff rotation, employment contracts, and data mining. Interestingly, the same authors found that use of forensic accountants is the least common method to combat fraud (14 percent), although it is rated as the most effective. In a recent study in Finland, Gullkvist and Jokipii (2015) found that auditors find the red flags approach to be important and to “significantly enhance their selfperceived ability to assess fraud risk” (p.

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