Corporate Fraud Prevention, Detection And Investigation
More money has been stolen at the point of a pen than at the point of a gun which directly shows the seriousness of corporate fraud. Fraud has become a challenge to the business organisations in today’s dynamic environment. Globalisation has induced intense competition
among the business houses that are ighting for proits and market share. Stock prices are considered as benchmark of the corporate performance which drive the managers to panic and resort to unwanted intentional acts leading to fraud. Standard on Auditing deines fraud as, “an intentional act by one or more individual among management,those charged with governance, employees and third parties, involving the use of deception to obtain an unjust and illegal
advantage.” Fraud is a willful act to obtain money, property or any other advantages that recipient otherwise is not lawfully authorised to own. Corporate fraud is committed