THE IMPACT OF CORPORATE FRAUD ON INTERNATIONAL BUSINESS

Аннотация
Introduction 3
1. Concept of corporate fraud 6
1.1. Definition and types of corporate fraud 6
1.2. Causes of corporate fraud 23
2. Measures to prevent corporate fraud 28
2.1. Internal and external preventive measures 28
2.2. Role of technology in fraud prevention 31
2.3. Employee training and awareness 37
3. Analysis of real cases of corporate fraud 42
3.1. Cases of major international scandals 42
3.2. Impact of corporate fraud on international economic relations 54
3.3. How to enhance corporate fraud at international level 62
Conclusion 67
References 69
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International corporate fraud is a global issue that poses significant challenges to businesses, governments, and individuals. It involves deceptive practices carried out by corporations with the intent to gain an unfair advantage. This can include a wide range of activities such as financial misrepresentation, insider trading, embezzlement, tax evasion, and more. In the era of globalization, the scope and impact of corporate fraud have expanded significantly. With businesses operating across multiple jurisdictions, the complexity of transactions and the diversity of regulatory environments provide ample opportunities for unscrupulous entities to engage in fraudulent activities.
The relevance of this study is significant as it provides a comprehensive analysis of corporate fraud on international level, encompassing its definition, types, causes, and measures for prevention. It delves into the intricacies of financial statement fraud, embezzlement, corruption, and insider trading, offering insights into their impact on international economic relations and the corporate world. The research examination of real cases of corporate fraud and the role of technology in fraud prevention is particularly pertinent for businesses seeking to fortify their defenses against such unethical practices. The findings and strategies outlined in this study are invaluable for corporate entities aiming to enhance their fraud prevention mechanisms and maintain the integrity of their financial operations.
The object of this study is corporate fraud, a multifaceted phenomenon that encompasses a range of illicit or unethical activities within corporate structures.
The subject of the study delves into the conceptual understanding of corporate fraud, its various manifestations, and the underlying causes that facilitate such deceptive practices.
The aim of the study is to provide a comprehensive analysis of real cases of corporate fraud on international level, assess the preventive measures in place, and evaluate their efficacy in mitigating the risks associated with these fraudulent activities.
To achieve the aim of this study, the following tasks were set:
1. Understand Corporate Fraud: Review the definitions and types of corporate fraud to comprehend the scope and impact of these activities within corporate structures.
2. Analyze Causes: Examine the causes of corporate fraud, focusing on the motivations and methods used by individuals to perpetrate these acts.
3. Implement Prevention Measures: Identify and apply both internal and external measures to prevent corporate fraud, leveraging technology and employee training.
4. Case Study Analysis: Analyze real cases of corporate fraud, assessing their impact on international economic relations and exploring ways to enhance fraud prevention at an international level.
5. Results and how to enhance: Try to enhance methods of preventing corporate fraud
on international level.
The scientific novelty lies in the compilation of known cases of international corporate fraud in auditing, the investigation of patterns, and the analysis of changes being made in international policies to prevent auditing. This work provides a comprehensive overview and contributes to the understanding of the dynamics of corporate fraud and the measures taken to mitigate it on a global scale. It also offers insights into the effectiveness of current international policies and suggests potential areas for improvement. This research could serve as a valuable resource for policymakers, auditors, and corporations worldwide.
The practical aspect of this work is that it can be used as a methodological guide to international corporate fraud in auditing, serving as a historical reference. This work not only provides a comprehensive understanding of the subject but also serves as a practical tool for those interested in the history and evolution of international corporate fraud in auditing. It can be a valuable resource for auditors, corporate entities, and researchers in the field.
This thesis contains 3 main parts, which are divided into the following:
Chapter 1. This chapter discusses the definition of corporate fraud, its types, as well as the reasons for fraud from a psychological perspective. It provides an in-depth understanding of the various facets of corporate fraud, shedding light on its implications and the psychological factors that contribute to such fraudulent activities. The chapter aims to equip readers with a comprehensive understanding of corporate fraud, enabling them to identify and mitigate such risks in their respective corporate environments.
Chapter 2. This chapter outlines the measures of preventing corporate fraud, detailing the tools and techniques employed for this purpose. It emphasizes the importance of prevention measures and staff training in mitigating fraudulent activities. The chapter provides a comprehensive overview of the strategies and practices that organizations can adopt to safeguard against corporate fraud, highlighting the critical role of employee awareness and education in these efforts. It underscores the need for a proactive approach in combating corporate fraud, advocating for the implementation of robust preventive mechanisms and the cultivation of a well-informed workforce.
Chapter 3. This chapter delves into practical case studies of international scandals such as Enron, WorldCom, and Wirecard, and their influence on the development of policies to prevent corporate fraud and analytics from Big-4 that survey the impact of corporate fraud. It provides a detailed analysis of these high-profile cases, examining the circumstances that led to their occurrence and the subsequent impact they had on shaping anti-fraud policies. The chapter underscores the lessons learned from these scandals and how they have informed the strategies and measures implemented by corporations worldwide to deter fraud.
To conduct this research, the diploma will use a list of research methods, including the descriptive method, the method of studying literature, the comparative method, the method of case studies and analysis of results. These methods enable us to determine how policies have evolved, identify the factors that influenced the perpetration of fraud, and understand the consequences for the companies and policy changes overall. This comprehensive approach provides a robust framework for exploring the complexities of international corporate fraud in auditing. It allows for a nuanced understanding of the historical trends, influential factors, and the impact of policy changes on corporate behavior. This research could significantly contribute to the field by offering valuable insights and paving the way for future studies.
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