Corporate Fraud Across the Globe

Preface
Contents
List of Figures
List of Tables
Part I The Concept of Corporate Fraud
1 What Is Corporate Fraud?
	1.1 Introduction
	1.2 More Definitions
	1.3 The Early Years of Corporate Fraud
		The South Sea Company Bubble (1720)
		The City of Glasgow Bank Scandal (1878)
		Enron Scandal (2001)
		WorldCom Scandal (2002)
		Madoff Investment Scandal (2008)
		Volkswagen Emission Gate Scandal (2015)
	1.4 How to Stop History from Repeating Itself?
	1.5 Concluding Remarks
	References
2 Types of Corporate Fraud
	2.1 Introduction
	2.2 Financial Statement Fraud
		Types of Accounting Frauds
	2.3 Corruption
	2.4 Asset Misappropriations
	2.5 Concluding Remarks
	References
3 Theoretical and Empirical Justification of Corporate Fraud
	3.1 Theoretical Justification of Corporate Fraud
		Fraud Triangle Theory
		Fraud Diamond Theory
		Corruption and Corporate Fraud Prevention (CCFP) Model
		Theory of Planned Behaviour
	3.2 Empirical Justification of Corporate Fraud
		Board Composition
		Audit Matters
		Ownership Structure
		Executive Matters
		External Factors
		Detection and Prevention
	3.3 Concluding Remarks
	References
Part II Corporate Fraud Across Countries and Industries
4 Corporate Fraud in Developing Countries
	4.1 Asia Pacific Region
	4.2 Latin America and the Caribbean Region
	4.3 Africa
	4.4 Unique Features in Developing Countries
		Social Ties
		State Ownership and Political Connections
		Quality of Legal System
	4.5 Concluding Remarks
	Appendix: Glossary of Terminology (from 2020 Report to the Nation on Occupational Fraud and Abuse)
	References
5 Corporate Fraud in Developed Countries
	5.1 United States (US)
	5.2 West Europe
	5.3 Canada
	5.4 More Discussion
	5.5 Unique Features in Developed Countries
		Media
		Short Selling
	5.6 Concluding Remarks
	References
6 Corporate Fraud Comparison Across Industries
	6.1 Introduction
	6.2 Percentage of Fraud Across Industries
	6.3 Fraud Severity Across Industries
	6.4 Industries with Most Corruption Cases
	6.5 Industries with Most Asset Misappropriations
		Banking and Financial Services Industry
		Manufacturing Industry
		Government and Public Administration Sector
	6.6 Industries with Most Financial Statement Fraud
	6.7 Concluding Remarks
	References
7 Corporate Fraud Trends
	7.1 Introduction
	7.2 Evolution of Fraud
	7.3 Cyber Fraud
	7.4 Cybersecurity: Past and Future
	7.5 Reasons for Rapid Growth of Cybercrime
	7.6 How to Stop Cybercrime
	7.7 Concluding Remarks
	References
Part III How to Prevent Corporate Fraud
8 External Factors: Legal Framework and the Business Environment
	8.1 Introduction
	8.2 Business Environment
		Culture and Fraud
			Power Distance
			Individualism vs Collectivism
			Uncertainty Avoidance
			Masculinity vs Femininity
			Long-Term Orientation (LTO) vs Short-Term Orientation (STO)
			Indulgence vs Restraint
		Religion and Fraud
	8.3 Legal Framework
		Investor Protection
		Ownership Concentration and Fraud
		Legal Enforcement and Fraud
		Private Enforcement and Fraud
	8.4 Revisit the Theoretical Models
	8.5 Concluding Remarks
	References
9 Internal Factors: Organisational Culture and Governance
	9.1 Introduction
	9.2 Why Internal Factors Matter
	9.3 Organisational Culture and Fraud
	9.4 Leadership and Fraud
	9.5 Internal Control and Fraud
	9.6 Management Incentives and Fraud
	9.7 Ownership Types and Fraud
	9.8 Stakeholders and Fraud
	9.9 Concluding Remarks
	References
Part IV Bring New Hope to the Business
10 Trust Repairing Post-scandal Priority
	10.1 Introduction
	10.2 Theories of Crisis Management
	10.3 Types of Post-Scandal Organisation
		The Redemptive Organisation
		The Rouge Organisation
		The Tread Water Organisation
	10.4 Right Crisis Management
		Good Preparation
		Long Term Focused
		Quick Response
		Accurate and Transparent Recovery
		High Ethical Standard
		Performance Evaluation
	10.5 Concluding Remarks
	References
11 Internal Reform During the Post-scandal Period
	11.1 Introduction
	11.2 Where to Start?
	11.3 Observable Warning Signals
	11.4 Perpetrators’ Department
	11.5 Internal Control
		What is Internal Control?
			Internal Control Approaches
			Internal Controls: Prevent Fraud Before it Happens
			Internal Controls: Accounting-Related Matters
			Internal Controls: Anti-Corruption Campaign
			Internal Controls: Asset Misappropriation Controls
		Internal Control: Cyber Security
	11.6 The Design of Internal Controls
	11.7 Concluding Remarks
	References
References
Index