Thieves from within: occupational fraud in Canada

Peltier‐Rivest, Dominic; Lanoue, Nicole

doi:10.1108/13590791211190722

Cited by 16 publications

(14 citation statements)

References 6 publications

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“…employee or manager) and rarely by external party (customers, suppliers, etc.). Similar findings were found by Krambia-Kapardis and Zopiatis (2010) and Peltier-Rivest and Lanoue (2012), where the perpetrators in most of the cases were "internal" with the vast majority of them being low-level employees. Specific studies (Gill and Goldstraw-White, 2010;Hollinger and Adams, 2006) were also carried out on employee fraud.…”

Section: Fraud Victimizationsupporting

confidence: 82%

Fraud victimization in Greece: room for improvement in prevention and detection

Krambia‐Kapardis

Papastergiou

2016

JFC

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Purpose The purpose of this paper is to investigate fraud victimisation of Greek companies during the financial crisis years. Moreover, the paper seeks to encourage the implementation of proactive and reactive measures in an effort to minimize fraud victimisation. Design/methodology/approach Drawing on an extensive literature review and utilising a questionnaire administered by Krambia-Kapardis and Zopiatis (2010), auditors and management of companies who had fallen victim to fraud provided information on the typology of fraud and on proactive and reactive measures taken after a fraud incident had been reported to them. Both descriptive and inferential statistics were utilized to analyze the collected data and address the postulated research questions. Findings The survey has found that no industry or size of company is immune from fraud, with bigger companies and small- and medium-sized enterprises (SMEs) falling victim to industrial espionage and theft of cash and counterfeit, respectively. The banking and insurance sector appeared to be affected mainly by money laundering. Management fraud was mainly in the form of window dressing, whilst employee fraud involved predominately theft of cash and assets. Loss of reputation emerged as the main concern for the victim, and it had a determining impact on deciding not to report cases to the police. Research limitations/implications Because of the sensitive topic being investigated and despite having assured the respondents that their anonymity would be guaranteed, the respondents were hesitant in responding. Thus, the response rate was 16.4 per cent, slightly lower than a similar study carried out in Cyprus (Krambia-Kapardis and Zopiatis 2010). The findings, however, are considered to be reliable, given the fact that the respondents were individuals well versed with the topic under investigation and in a position to know if their company had fallen victim to fraud. Practical implications The findings have practical relevance to both industry stakeholders and academics who wish to further explore fraud victimization in the Greek business environment. Given that the financial crisis in Greece is continuing, fraud risk assessment ought to concentrate in the area of cash, and preventative measures need to be considered by the regulators and the victims. Originality/value Whilst fraud victimisation studies are becoming popular by the Big 4 accounting firms, there is no fraud victimisation study concentrating on the typology of fraud in Greece. With this survey, it will be possible to draw conclusions and make suggestions to the accounting profession on how to combat fraud, at a time, when the economic crisis is persisting and fraud is expected to escalate.

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Section: Fraud Victimizationsupporting

confidence: 82%

Fraud victimization in Greece: room for improvement in prevention and detection

Krambia‐Kapardis

Papastergiou

2016

JFC

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“…Managers try to hide fraudulent transactions into other transactions to the extent possible. Further, segregation of duties (mean = 4.176) has been found as an important tool to control fraud, supporting the finding of Peltier-Rivest and Lanoue (2011).…”

Section: Resultssupporting

confidence: 65%

“…It indicates operational efficiency of business organisation, confidence in annual reports and compliance with various applicable laws (Mohd-Sansui, Mohamed, Omar & Mohd-Nassir, 2015). Reinforcing such system minimises risk of collusion among employees (Peltier-Rivest & Lanoue, 2011), thus abating risk of material misstatement and fraud by employees (Caplan, 1999).…”

Section: Review Of Literaturementioning

confidence: 99%

“…Implementation of whistle blowing makes staff aware and responsible (PwC, 2008). It is a well-designed mechanism to report suspected fraud to directors, audit committee or outsiders (Peltier-Rivest & Lanoue, 2011). Whistle blowing through an easy and economic method (Deloitte, 2012), but in most cases, employees fear to report fraud due to threat to their position and life.…”

Section: Review Of Literaturementioning

confidence: 99%

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Auditors’ Perceptions of the Effectiveness of Fraud Prevention and Detection Methods

Mangala

Kumari

2017

Indian Journal of Corporate Governance

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Fraud has emerged as an undesirable offshoot of human greed and pressure to perform in growing corporate world. It has led to erosion of stakeholders' confidence across the globe. Now, they see the annual reports and other corporate filings with scepticism. Despite increasing instances of fraud, the anti-fraud mechanism of the business organisations is not up-to-date. The present study aims to examine the effectiveness of fraud detection and prevention methods used by corporate sector. A survey of 336 auditors seeking their perception about effectiveness of various anti-fraud methods has been conducted. The findings reveal that corporate governance is the most effective tool against fraud. Use of information technology, timely audit, regular inspection and corporate policies and procedures, also, play a vital role in curbing fraudulent practices in an organisation. Thus, the findings suggest that expenditure on effective anti-fraud methods should not be viewed as an expense; instead, it must be considered as an investment as it saves from the potential losses due to fraud and damage to business stability, revenue and image.

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“…Fraud has been perceived as a perpetrator’s crime to deceive others (Wells, 2008, p. 8) probably with an intention of not being detected (Association of Certified Fraud Examiners, 2012, p. 57; Dorminey et al, 2012) with rationalisation for their misdeeds (Dorminey et al, 2012; Murphy & Dacin, 2011). Furthermore, frauds have been committed by the perpetrators in different forms such as pilferage of petty cash, stocks and cash (Gill & Goldstraw-White, 2010) mostly by employees, even by top officials, rather than by outsiders (e.g., Krambia-Kapardis & Zopiatis, 2010; Peltier-Rivest & Lanoue, 2012), creating concerns for management (Brink & Witt, 1982). Literature has documented perpetrating government officials, for example, by taking bribes (tax officials in Indonesia [Kimura, 2012] and transport officials in India [Bertrand et al, 2007]) and by taking kickbacks (in India [Davis, 2004], in Indonesia [Prabowo, 2012], in Pakistan [Bashir et al, 2011; Jalal, 1991, pp.…”

Section: Prior Studies and Hypothesesmentioning

confidence: 99%

Financial Audit or Forensic Audit? Government Sector Panorama

Deb

2018

Indian Journal of Corporate Governance

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The study has been motivated to assay the selective stakeholders' perceptions on whether the government financial audit has been converted into forensic audit. Adopting a cross-sectional study design with survey strategy through a self-administered interview schedule with a 50-item inventory, data has been collected from randomly chosen 120 sample respondents having equal representations from two groups-current and retired government employees and businessmen of Tripura. The significant statistical results have concluded that corruption and accounting slacks have important impacts on the government audits, and the latter if used in an appropriate manner are likely to detect frauds and catalyse in bringing accounting reforms.

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Thieves from within: occupational fraud in Canada

Cited by 16 publications

References 6 publications

Fraud victimization in Greece: room for improvement in prevention and detection

Fraud victimization in Greece: room for improvement in prevention and detection

Auditors’ Perceptions of the Effectiveness of Fraud Prevention and Detection Methods

Financial Audit or Forensic Audit? Government Sector Panorama

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