PREVENTING WORK PLACE FRAUD

PREVENTING WORKPLACE FRAUD

Dr. Richard Mayungbe , CPFA, ACFE, FICA, FICCA,MICM

INTRODUCTION:

In the present day economic structures, companies and organizations are formed for the promotion of one form of objective or the other, mostly for the purpose of profit making.

In pursuit of this objective, man, money and machinery are assembled together to form an organic whole, which revolves ceaselessly in order to actualize the intended goals.

But beautiful as this may look, man which is one of the three elements assembled as explained above is the most dangerous enemy and or the best friend to the success of the objectives. Man in this paper is a director, (co-owner), employee, supplier, or even a customer of the organization.

 Man has therefore been known to have a secret but inordinate agenda that is an addendum to the initial agenda of the organization.

More often, man is seen as constituting himself to a fraudster and a corrupt element in order to satisfy his own hidden agenda. By extension, the collective prosperity of the organization is cleverly siphoned into a few smart pockets.

We are here today to look at the problem from the point of view of a Forensic Accountant, and prescribe the necessary solution… Therefore, the title of our course this morning is “Preventing Workplace Fraud”.

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