Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers.
Through content analysis of press coverage of 39 high-profile Singapore corporate fraud cases which took place between 2000 and 2011, this study sought to improve fraud detection in three ways. The first way to improve fraud detection was to construct a typical profile of the company and frau...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/48153 |
| _version_ | 1826125347768238080 |
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| author | Lee, Shan Shan. Soh, Wan Yuan. Tan, Si Hui. |
| author2 | Tan Seet Koh |
| author_facet | Tan Seet Koh Lee, Shan Shan. Soh, Wan Yuan. Tan, Si Hui. |
| author_sort | Lee, Shan Shan. |
| collection | NTU |
| description | Through content analysis of press coverage of 39 high-profile Singapore corporate fraud cases which took place between 2000 and 2011, this study sought to improve fraud detection in three ways.
The first way to improve fraud detection was to construct a typical profile of the company and fraudster involved. We found that most fraud cases involved the top management and that the most common type of fraud was misappropriation of assets. The perpetrators in our sample were concentrated at the younger end of the age spectrum, and majority was males.
The second way to improve fraud detection was to evaluate the comprehensiveness of fraud risk factors listed in SSA 240, the local auditing standard on fraud. Supplementing the Fraud Triangle with the Theory of Planned Behaviour, we found that the fraud risk factors in SSA 240 under ‘incentives/pressures’ and ‘opportunities’ were sufficiently comprehensive, but we identified a significant number of fraud risk factors that were not present in the ‘attitudes/rationalizations’ component. As such, we recommended the addition of prominent fraud risk factors to the list in SSA 240 to improve the effectiveness of fraud detection by external auditors.
The third way to improve fraud detection was to understand the makeup of local corporate whistleblowers. Contrary to expectation by the general public, we found that external auditors and government regulatory agency Commercial Affairs Department formed a mere 15% of the whistleblowers. Hence we suggested ‘adopting the U.S. qui tam statue to corporate frauds’ together with the introduction of policies and laws to protect the whistleblowers. |
| first_indexed | 2024-10-01T06:35:10Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/48153 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T06:35:10Z |
| publishDate | 2012 |
| record_format | dspace |
| spelling | ntu-10356/481532023-05-19T07:23:13Z Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers. Lee, Shan Shan. Soh, Wan Yuan. Tan, Si Hui. Tan Seet Koh Nanyang Business School DRNTU::Business::Auditing::Reporting Through content analysis of press coverage of 39 high-profile Singapore corporate fraud cases which took place between 2000 and 2011, this study sought to improve fraud detection in three ways. The first way to improve fraud detection was to construct a typical profile of the company and fraudster involved. We found that most fraud cases involved the top management and that the most common type of fraud was misappropriation of assets. The perpetrators in our sample were concentrated at the younger end of the age spectrum, and majority was males. The second way to improve fraud detection was to evaluate the comprehensiveness of fraud risk factors listed in SSA 240, the local auditing standard on fraud. Supplementing the Fraud Triangle with the Theory of Planned Behaviour, we found that the fraud risk factors in SSA 240 under ‘incentives/pressures’ and ‘opportunities’ were sufficiently comprehensive, but we identified a significant number of fraud risk factors that were not present in the ‘attitudes/rationalizations’ component. As such, we recommended the addition of prominent fraud risk factors to the list in SSA 240 to improve the effectiveness of fraud detection by external auditors. The third way to improve fraud detection was to understand the makeup of local corporate whistleblowers. Contrary to expectation by the general public, we found that external auditors and government regulatory agency Commercial Affairs Department formed a mere 15% of the whistleblowers. Hence we suggested ‘adopting the U.S. qui tam statue to corporate frauds’ together with the introduction of policies and laws to protect the whistleblowers. BUSINESS 2012-03-19T04:50:08Z 2012-03-19T04:50:08Z 2012 2012 Final Year Project (FYP) http://hdl.handle.net/10356/48153 en Nanyang Technological University 169 p. application/pdf |
| spellingShingle | DRNTU::Business::Auditing::Reporting Lee, Shan Shan. Soh, Wan Yuan. Tan, Si Hui. Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers. |
| title | Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers. |
| title_full | Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers. |
| title_fullStr | Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers. |
| title_full_unstemmed | Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers. |
| title_short | Improving detection of corporate fraud in Singapore : insights from the press on the profile of fraud cases, fraudsters and whistleblowers. |
| title_sort | improving detection of corporate fraud in singapore insights from the press on the profile of fraud cases fraudsters and whistleblowers |
| topic | DRNTU::Business::Auditing::Reporting |
| url | http://hdl.handle.net/10356/48153 |
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