Archive | Internal Control

Is embezzlement trending? It seems to be. For most of my career, embezzlement was something I read about in the newspaper (back when newspapers mattered). Or I read about it on news sites as the internet took over. It was a rare event; newsworthy. But I never had experience, first, second or even third-hand, with […]

My installment series on fraud has spawned a fourth chapter. And the reasons for the sequel are twofold. First, I got a huge reaction from people relating their first-hand experience with fraud in business. I knew that fraud had become more common but it appears we have veritable epidemic on our hands. I don’t know […]

This is the third installment in my four-part series on fraud. In the first installment I wrote about the Fraud Triangle: pressure, opportunity and rationalization. In the second installment I talked about Internal (workplace) Fraud. In this installment, the topic is External Fraud. This is fraud committed by someone outside the company; someone other than […]

This is the second installment in my four-part series on fraud. In the first installment I presented the Fraud Triangle. All three elements must be present for fraud to occur: pressure, opportunity and rationalization. In this installment I cover Internal Fraud. That is, fraud committed by employees rather than outsiders. Fraud committed by outsiders, External […]

In my career I’ve been exposed to fraud only a few times. My impression used to be that fraud is relatively rare. Maybe it was or maybe my experience wasn’t representative, but it seems that fraud has become a lot more common. Technology has certainly made it easier to steal. Fortunately, technology has made it […]