T
he emergence of the ‘corporate form’ as the
dominant mode of doing business is one of the
main factors responsible for unprecedented economic
growth in modern times. This, in turn, has made mo-
bilization of large resources possible. Growth of the
modern economy, which is today largely dependent on
the corporate sector, is possible only if organizations
maintain the credibility, condence, faith of investors,
and other key stakeholders. Creating an environment
of transparency and accountability, which can help pre-
vent frauds and eectively address fraud and corruption
risks, is critical for the growth of the corporate sector.
In simple language, fraud can be dened as ‘activi-
ties designed to obtain undue benet through misrep-
resentation, ...