Financial shenanigans: The importance of anti-fraud education

JAMIESON, Diane, AWOLOWO, Ifedapo, GARROW, Nigel, WINFIELD, Joanne and BHAIYAT, Firoz (2018). Financial shenanigans: The importance of anti-fraud education. In: PAN IIT International Management Conference, Roorkee, India, 30 Nov 2018 - 2 Dec 2018. Indian Institute of Technology, 1-12. (Unpublished)

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“Education is fundamental to the prevention of crime and corruption and to the promotion of a culture of lawfulness that supports the rule of law and human rights while respecting cultural identities.” United Nations’ Doha Declaration Fraud, Financial Distress and Liquidation, Audit Failures, Hubris and Narcissism, are all very real and serious issues in today's business environment, but what are their implications for higher education teaching and future managers and leaders? Challenges exist for organisations in many different guises as they strive to achieve their goals. This often results in a balancing act between the right course of action and an action which could be seen to be ethically immoral or even illegal. Recently many organisations have encountered financial distress for different reasons, at a high cost to employees, pensioners, and other stakeholders. How can organisations ensure that legal and ethical decisions and actions are taken? Employees can be effective corporate watchdogs in the fight against financial deception and unethical decisions, and so surely fraud awareness and understanding education should be one of the essential requirements for our future business managers and leaders. A significant number of U.S. universities and colleges educate students on the basic elements of fraud prevention and detection; we consider why this is not replicated to such an extent in other countries? We suggest why anti-fraud education is important in the fight against financial shenanigans. The issue of financial shenanigans is significant; total global fraud loss is estimated to be nearly US$4 trillion per annum.

Item Type: Conference or Workshop Item (Paper)
SWORD Depositor: Symplectic Elements
Depositing User: Symplectic Elements
Date Deposited: 19 Dec 2018 11:58
Last Modified: 19 Dec 2018 12:00

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