Financial shenanigans: The importance of anti-fraud education

Abstract

Fraud, financial distress and liquidation, audit failures, hubris and narcissism, are all genuine and serious issues in today’s business environment. Challenges exist for organisations in many different guises as they strive to achieve their goals. This often results in a balancing act between the right course of action and action which could be seen to be ethically immoral or even illegal. Recently many organisations have encountered financial distress for different reasons, at a high cost to employees, pensioners, and other stakeholders. How can organisations ensure that legal and ethical decisions and actions are taken? Through a review of literature, recent case studies, and the incidence of relevant courses in universities, this paper examines the importance of education in the fight against corporate fraud. Evidence indicates that employees can be effective corporate watchdogs in the fight against financial deception and unethical decisions; increasing the number of people in a firm with enhanced fraud awareness and knowledge through education should, therefore, be one of the essential requirements for our future business managers and leaders. We indicate why anti-fraud education is important in the fight against financial shenanigans, and why it should be more widely adopted for the benefit of all stakeholders.

The Tendency for Occupational Fraud in Malaysian Small Medium Enterprises and The Effect of Internal Control, Ethical Culture and Awareness on Fraud

“…This may even made SMEs to encounter difficulty to secure potential financing for growth opportunity due to negative image portrayed to financier. Several critical factors have been identified to influence occupational fraud tendency within SMEs comprising of weak internal control (Ali et al, 2020;State, 2016;COSO, 2013), poor ethical culture (Warrick, 2017;Schwartz, 2013;Bouwman, 2013) and lack of fraud awareness among staffs (Nicholas et al, 2015;Jamieson et al, 2019;KPMG Malaysia Fraud Bribery and Corruption Survey, 2013). Some of the potential ways to eradicate occupational fraud tendency would be by looking at these 3 critical factors and to strengthen them accordingly.…”

ANALISIS REVENUE SHENANIGANS PADA PERUSAHAAN PT GARUDA INDONESIA (PERSERO) Tbk

“…Revenue shenanigans dapat mempengaruhi perusahaan dalam hal investasi bagi investor dimana akan memberikan dampak yang tidak baik terhadap harga saham dan prospek perusahaan kedepannya, meskipun revenue shenanigans dapat merupakan salah satu pelanggaran dalam akuntansi. Dampak buruk yang diberikan dapat membuat sebuah perusahaan menjadi dalam kondisi bangkrut (Jamieson et al, 2019;Sakti et al, 2020).…”

“…Adanya kasus perusahaan di Indonesia yang melakukan manipulasi keuangan dan dapat dikatakan perusahaan tersebut telah melakukan salah satu dari revenue shenanigans. Perusahaan Garuda Indonesia pernah melakukan pelanggaran tersebut dimana dengan melaporkan pendapatan palsu pada laporan keuangan perusahaannya, yang dapat membuat para pengguna laporan keuangannya menjadi salah dalam mengambil keputusan untuk perusahaan (Jamieson et al, 2019).…”

Analisis Fraud Menggunakan Financial Shenanigans Pada Pt Perusahaan Gas Negara (Persero) TBK

“…Kecurangan laporan keuangan adalah kesalahan penyajian yang disengajakan dengan tujuan untuk menipu pengguna laporan keuangan, terutama investor. Financial shenanigans dapat diartikan juga sebagai perilaku atau tindakan-tindakan curang yang digunakan oleh suatu perusahaan dalam melakukan kecurangan laporan keuangan (Jamieson, Awolowo, Garrow, Winfield, & Bhaiyat, 2019).…”

“…Financial shenanigans berkaitan erat dengan kecurangan laporan keuangan. Financial shenanigans dapat diartikan juga sebagai perilaku atau tindakan-tindakan curang yang digunakan oleh suatu perusahaan dalam melakukan kecurangan laporan keuangan (Jamieson et al, 2019).…”