Purpose In recent years, Public Accountability and Integrity have been matters of growing attention, both in the public and private sector, as citizens demand value for money entrusted to the governments through their taxes. In addition, in many countries, after the recent recession, government budgets and corporate returns have been reduced. Many corporate scandals have occasionally become known and have had a great impact on confidence in the market. Even worse, after the pandemic of COVID-19, «bare and exacerbated massive preexisting problems in the world’s economic, social and security order, threatens to push up to 100 million people into extreme poverty in 2020, struck at a time of dwindling trust in representative governance» (UNDP, 2020). The funds of organizations in the private and public sector have been shrinking, whereas the situational pressures of fraud are increased. In this context, Dorris, President and CEO of the ACFE warns for explosion of fraud in the coming years and reminds that during the 2008 economic, companies cut-off, non-revenue generating activities, such as the internal audit and the compliance departments leaving them exposed to fraud. Therefore, organizations have to do more with less. The purpose of this paper is to present the development of the fraud theory on the management’s perspective aiming to contribute to the efficient development of anti-fraud mechanisms Design/methodology/approach Having identified the fraud theory developed so far, we provide a framework for the fraud risk management. Findings This paper incorporates cost/benefits considerations, practical considerations and empirical evidence on fraud. Originality/value This paper provides valuable information to enable the management, who has the primary responsibility to prevent and detect fraud, to disclaim responsibility by broadening their understanding of fraud theory.
Purpose Fraud omnipresent in the media, the corporate world and the academic literature has attracted a great deal of research interest. Fraud and its various types and forms have been characterized as significant contributing factors to the development of severe financial crises. Recurrent financial crimes in both the private and the public sectors remind us that fraud and its negative consequences paralyze economic entities all over the world. Understanding the multidimensional nature of fraud is key to prevent and detect it. This paper aims to examine the dominant fraud triangle model framework and its variants developed in the accounting literature to provide the etiology of fraud. Design/methodology/approach Having identified the fraud theory developed so far, we provide a theoretical framework for international fraud triangle. Findings Understanding the multidimensional nature of fraud is key to prevent and detect it. This paper examines the dominant fraud triangle model framework and its variants developed in the accounting literature to provide the etiology of fraud. Drawing on theoretical insights and useful criticism of the fraud triangle, this paper proposes an international fraud triangle model framework to help auditors, managers, regulators and academics in understanding fraud holistically in the private and public sector in a global context. The authors finally provide an overview of fraud in the Greek Context. Originality/value This paper proposes an international fraud triangle model framework.
The recent pandemic of the SARS-CoV-2 virus highlighted the urgent need for social cohesion among Governments, companies, and organizations. The pandemic also raised the demand for companies to act as good corporate citizens. However, frequently applying ESG considerations may be proven challenging in practice. The objective of this study is to provide a theoretical framework that will allow companies and organizations to incorporate sustainability criteria into the project management process following a conceptual approach, using the guidelines of the Project Management Institute and qualitative methods such as "text analysis" and "content analysis". Particular attention was placed on the benefits that businesses receive from implementing sustainability methods in their decision-making in order to act responsibly and have a beneficial impact on the environment in which they operate as well as on the people who are affected directly or indirectly.
Empirical research identifies whistleblowing as one of the most effective internal antifraud controls. Very recently, Directive 1937/2019 became effective in the EU, aiming to deal with the defragmentation of whistleblowing legislation among the member states and provide common minimum accepted standards. The present article aims to provide a verified, weighted comparative maturity model. The suggested model has been constructed based on the methodology for constructing comparative maturity models and validated based on the Delphi method. The weights on each validated component have been calculated based on the summing of votes method. The study resulted in eight main components «scope», «corporate governance», «reporting mechanisms», «protection», «tone at the top», «organizational and human resource practices», «investigations» and «monitor and review» divided further into 18 elements. The suggested maturity model may provide a pathway for organizations to develop and maintain a robust whistleblowing maturity framework that will benefit both the organizations and the public welfare.
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