Barriers to Corporate Fraud: How They Work, Why They Fail
Description
The report focuses on the internal controls on American corporations (including corporate governance, business ethics, managerial structure and compensation, internal counsel, and whistleblowers), as well as external controls (government regulation, external auditors and accountants, and the judicial process). A recurring theme is the limited efficacy of many safeguards and watchdogs in cases of "control fraud," where fraud is directed or abetted by top management, and where unethical or abusive practices may become the organizational norm. Another broad question raised by the report is whether the post-Enron scandals were a one-time event, made possible by the stock market bubble of the …
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Description
The report focuses on the internal controls on American corporations (including corporate governance, business ethics, managerial structure and compensation, internal counsel, and whistleblowers), as well as external controls (government regulation, external auditors and accountants, and the judicial process). A recurring theme is the limited efficacy of many safeguards and watchdogs in cases of "control fraud," where fraud is directed or abetted by top management, and where unethical or abusive practices may become the organizational norm. Another broad question raised by the report is whether the post-Enron scandals were a one-time event, made possible by the stock market bubble of the 1990s and several other unique historical developments which together constituted a "perfect storm," or whether fraud is a cyclical phenomenon associated with the end of long bull markets.
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Congressional Research Service Reports
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Jickling, Mark.Barriers to Corporate Fraud: How They Work, Why They Fail,
report,
December 27, 2004;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metadc462705/:
accessed April 18, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.