Corporate Frauds: India Inc.'s Response



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Code : GOV0032

Year :
2009

Industry : Not Applicable

Region : India

Teaching Note: Available

Structured Assignment : Available

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Abstract: This case study’s primary objective is to analyse the prerequisites for containing corporate frauds. Since 1990s, frauds in organisations have increased worldwide irrespective of size and nature of business. Corporate frauds ranging from employee fraud, consumer fraud, vendor-related/third-party fraud, computer fraud and financial reporting fraud have crept into all sectors. For reasons like inadequate penalties, inefficiency of the judiciary system and inadequate financial benefits, corporate fraud continues to threat organisations worldwide. Why are corporates struggling to combat fraud when measures available are ample?

In India, corporate fraud ranks high with 42% of the companies experiencing it. While suppliers’ kickback is the most prevalent form of fraud, it percolates in every possible form. Everyday, fraudsters come up with new modes of committing fraud. On an average, Indian companies incur a direct loss of $1.5 million. However, in spite of the heavy risk and cost involved, companies are barely equipping themselves with better strategies. Among other measures, companies are adopting employee registry, background check and biometric identification. Are these measures sufficient to combat the menace of corporate fraud? The case explores into the do’s and don'ts that corporate India needs to do to minimise corporate fraud in India.

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Pedagogical Objectives:

  • To understand the different types of corporate fraud and analyse their implications for businesses
  • To analyse the nature and extent of corporate frauds in India and also to examine the influencing factors for committing corporate frauds in India
  • To debate and suggest on the possible ways and means to arrest corporate fraud menace in India and to examine the efficacy of the steps already taken

    Keywords : Business Ethics, Corporate Frauds, Whistle Blowing, Governance, Internal Audit, Management Control, Internal Control, Outsourcing, BPOs, Management Audit, Enron

    Contents :
    » Corporate Frauds in India Inc
    » Corporate Frauds: India Inc.’s Response


    Case Introduction >>


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