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The Successful Frauditor's Casebook by Peter Tickner

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Chapter 21

Can significant frauds be nipped in the bud?

All truths are easy to understand once they are discovered, the point is to discover them.

Galileo Galilei (1564–1642)

All of the larger frauds covered in this book escaped attention until they became a seri- ous threat to the survival of the organisation on which the fraudster perpetrated their frauds. Academic studies have shown a pattern to organisational behaviour that makes it hard to face up to certain types of fraud before they reach damaging proportions. There is also a cyclical element to it all. As with most forms of human activity, when a matter is uppermost in the mind, managers are alert to the risks and it is less likely to be a problem. But as time drifts by, the reasons why anyone might have been concerned fade in the collective consciousness of the organisation and the risk of a repeated or similar fraud starts to increase.

There are two fundamental issues here to address. First, how you ensure that you have the best possible chance of nipping a first time fraud in the bud before it reaches such dangerous proportions. Second, how you ensure that your organisation minimises the risk of a repeat occurrence of a previously suffered significant fraud.

GETTING THE BEST POSSIBLE CHANCE TO NIP FIRST TIME FRAUDS IN THE BUD

I am firmly of the belief that, despite all the academic evidence about cultural tendencies within an organisation, it is possible to reduce although not wholly eliminate the likelihood of a first ...

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