An Exploratory Study of Internal Control and Fraud...

Jaya Kumar Shanmugam, Mohd Hassan Che Haat Azwadi Ali http://cscjournals.org/csc/manuscript/Journals/IJBRM/volume3/ Issue2/IJBRM-75.pdf An Exploratory Study of Internal Control and Fraud Prevention Measures in SMEs Jaya Kumar Shanmugam Department of Accounting and Finance Faculty of Management and Economics Universiti Malaysia Terengganu 21030 Kuala Terengganu, Malaysia jaya_jkumar@yahoo.com Mohd Hassan Che Haat Department of Accounting and Finance Faculty of Management and Economics Universiti Malaysia Terengganu 21030 Kuala Terengganu, Malaysia hassan@umt.edu.my Azwadi Ali Department of Accounting and Finance Faculty of Management and Economics Universiti Malaysia Terengganu 21030 Kuala Terengganu, Malaysia†¦show more content†¦The value of fraud reported in the survey period was RM63.95 million. Not all respondents disclosed information on the number of fraud incidents or the value of fraud detected (15 percent of the 85 respondents responded they were victims of fraud were unsure of the number of incident whereas 53 percent were unsure of the value of financial losses due to fraud). Hence, this suggests that losses may be far bigger than the disclosed amounts of the 56 percent of respondents who reported some form of recovery of assets that were misappropriated, 43 percent reported partial recovery while 13 percent reported full recovery. On the other hand, the number of identity fraud (when the person knowingly or intentionally obtains personal identifying information of another person and using it) victims increased by 12 percent in 2009 a nd the amount of fraud increased by 12.5 percent. This is the highest rate of increase in the seven years that the company has been issuing the report since 2002. New account fraud represents 39 percent of all 2009 fraud cases, versus 33 percent in 2008. Many of these fraudulent accounts were opened online. New account fraud is not limited to credit card accounts. Fraudulent cell phone accounts make up 29 percent of total new account fraud. Existing credit cards are also highly targeted, making up 75Show MoreRelatedResearch on Internal Audit Participate in Risk Management-Based on the Erm Framework of Coso20007 Words   |  81 PagesSchool of Management, University of Glamorgan Research on Internal Audit Participate in Risk Management-Based on the ERM Framework of COSO By: Weichen Zhu Candidate no: September 2012 Supervised by: The dissertation is submitted as part of the requirement for the award of Masters of Science: Declaration This Dissertation has been prepared on the basis of my own work and that where other published and unpublished source materials have been used, these have been acknowledgedRead MoreCore Banking Solutions12901 Words   |  52 Pagessoon. The process has already started. However it is still in its infancy stage. There are a number of issues like the tie-ups to enter into, the monetary issues, the comparative advantages over the huge costs involved. Keeping this in view an exploratory research approach has been adopted. This research tends to explore the concerned issues. For the purpose of this project work, the requisite data may be collected from . Secondary Data Sources. REGIONAL RURAL BANKS Regional Rural Banks are establishedRead MoreWhat Are the Impacts of Rfid in Oil and Gas Supply Chain Management?21195 Words   |  85 Pagesto provide solution to SCM problems. Despite these enormous advantages of RFID the draw backs; are cost; privacy issues and this study have tried to look at all the issues from all sides. The research was conducted using secondary research to gather information on both SCM and RFID technology. After in-depth study, the research was also able to pull out case studies in oil and gas companies to analyze the impact of RFID in oil and gas supply chain management. In the final analysis, secondary