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Incentives / Pressure GREED Personal financial trouble

Published byBruno Webb Modified over 6 years ago

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Presentation on theme: "Incentives / Pressure GREED Personal financial trouble"— Presentation transcript:

1

2 Incentives / Pressure GREED Personal financial trouble
Management opportunity for huge gains Employee opportunity to share in those gains Personal financial trouble Living beyond means Vice Financial emergencies Work-related pressure Pressure to perform Under-compensated employees

3 Opportunity Poor controls / control override
Failure to discipline perpetrators Ignorance / apathy / capacity (available victims)

4 Internal Control Overview
Control Environment Accounting System Control Activities Monitoring

5 Control Environment “Tone at the top”: Management attitude and example
Communication about ethics Appropriate hiring (competence and honesty) Clear organizational structure

6 Control Activities Segregation of duties System of authorization
Independent checks Physical safeguards Documents and records

7 Attitude / Rationalization
Lack of ethical values Otherwise ethical individual rationalizes actions

8 Note from a fraud detection perspective
Opportunities easiest to assess Incentives / pressure can be assessed if work-related Personal incentives, attitudes difficult to assess

9 Note from a fraud prevention perspective
Opportunities Easiest to control Focus of most companies’ fraud prevention efforts Incentives, Attitudes More difficult to control Will return to this discussion later

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