SHAHID MOOSA (TP020450)
DISRUPTING MANAGEMENT LEVEL FRAUD : A STUDY ON THE FRAUD PREVENTION MEASURES IN MALDIVIAN STATE-OWNED ENTERPRISES / SHAHID MOOSA. - Kuala Lumpur : Asia Pacific University, 2019. - 96 pages : illustrations ; 30 cm.
A thesis submitted in fulfillment of the requirement of Staffordshire University for the award of Master of Accounting in Forensic Analysis (UCMF1808AFA)
The many international high-profile fraud scandals among State-Owned Enterprises (SOEs) reveal deceptive ‘tone’s from the top’ and ‘tone’s at the top’. Similarly, Maldives also has had a fair share of management fraud in history and still faces the same risk of management level fraudulent practices, especially in SOEs. Weak control environment, poor governance and control mechanisms are cited as main reasons that led to recent fraud scandals. Hence, this research aims to examine the relationship between control environment, fraud risk management, system of internal controls and oversight and management level fraud prevention among SOEs in the Maldives. Questionnaires were sent to the employees of the SOEs to collect the data. The findings show that there is a significant relationship between management level fraud prevention and the corresponding control environment, fraud risk management and system of internal control and oversight. This indicates that the preventive measures used in this study have significant impact on preventing management level fraud among SOEs in the Maldives. This study recommends policy changes based on the results of this study and also in line with OECD’s best practices of governance in curbing management level fraud in SOEs. Hence, it is recommended that, Government should reinforce the governance structure of SOEs with best practices of corporate governance, track the performance of SOEs by establishing regular in-depth reviews and foster rule of law against high-profile fraudsters. SOEs should operate to highest standards of integrity, be accountable through transparency and public reporting, implement secure whistleblowing mechanism, prioritize management level fraud risks and respond with robust control measures to mitigate the risk of fraud.
Fraud--Prevention.
Forensic accounting.
Integrity.
PM-31-40
DISRUPTING MANAGEMENT LEVEL FRAUD : A STUDY ON THE FRAUD PREVENTION MEASURES IN MALDIVIAN STATE-OWNED ENTERPRISES / SHAHID MOOSA. - Kuala Lumpur : Asia Pacific University, 2019. - 96 pages : illustrations ; 30 cm.
A thesis submitted in fulfillment of the requirement of Staffordshire University for the award of Master of Accounting in Forensic Analysis (UCMF1808AFA)
The many international high-profile fraud scandals among State-Owned Enterprises (SOEs) reveal deceptive ‘tone’s from the top’ and ‘tone’s at the top’. Similarly, Maldives also has had a fair share of management fraud in history and still faces the same risk of management level fraudulent practices, especially in SOEs. Weak control environment, poor governance and control mechanisms are cited as main reasons that led to recent fraud scandals. Hence, this research aims to examine the relationship between control environment, fraud risk management, system of internal controls and oversight and management level fraud prevention among SOEs in the Maldives. Questionnaires were sent to the employees of the SOEs to collect the data. The findings show that there is a significant relationship between management level fraud prevention and the corresponding control environment, fraud risk management and system of internal control and oversight. This indicates that the preventive measures used in this study have significant impact on preventing management level fraud among SOEs in the Maldives. This study recommends policy changes based on the results of this study and also in line with OECD’s best practices of governance in curbing management level fraud in SOEs. Hence, it is recommended that, Government should reinforce the governance structure of SOEs with best practices of corporate governance, track the performance of SOEs by establishing regular in-depth reviews and foster rule of law against high-profile fraudsters. SOEs should operate to highest standards of integrity, be accountable through transparency and public reporting, implement secure whistleblowing mechanism, prioritize management level fraud risks and respond with robust control measures to mitigate the risk of fraud.
Fraud--Prevention.
Forensic accounting.
Integrity.
PM-31-40