Archive for the ‘corruption’ Category
$850M is a BIG diversion
Look at this WSJ.com article about $850 million being “diverted” by a family running a Tajikistan bank.
This makes the case for continuous auditing by pointing out how bad things can get in the other extreme of only auditing once a decade. Independent oversight is so important. After all Barney Fife had it right when he said, “Nip it in the bud.”
Corruption Schemes Hit Education Organizations
Internal Auditor reports on studies showing that “27 percent of all occupational frauds” are corruption schemes. The education industry numbers are especially interesting.