Corporate Fraud: The Danger Within

imposing too demanding targets can easily lead to false accounting.

Remember George Bernard Shaw who said: “I wrote you a long letter because I hadn’t time to write you a short one”.

Forming an overall view, stating conclusions, and making recommendations are the key attributes of an audit report.

“How many former branch managers have you in the internal audit function?”.

Criticism from internal audit provides an opportunity to correct weaknesses before they give rise to loss.

Written policies and procedures are a good starting point. But all the policies and procedures in the world will not protect a company, its assets or reputation if those policies and procedures are inadequate or not being observed.

Too much trust and authority was given to one individual – this is common in many situations of loss;