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I studied accounting. We were told that Internal Control, audits, reviews etc. are the silver bullets to curbing corporate corruption and accounting scandals. W
by anyfactor 4y ago
I studied accounting. We were told that Internal Control, audits, reviews etc. are the silver bullets to curbing corporate corruption and accounting scandals. When we reached master's level all that was thrown out of the window and the truth was that, those techniques are only there to serve nothing but regulatory and statutory requirements. Corporate ethics is practically non-existential.
The way scandals are exposed are almost always through whistleblowers. That is a fact. If you want transparency and honesty in a system, establish a bounty system and protect the whistleblowers.
- ip26 4y agoI’d be inclined to think controls, audits, and reviews prevent most of the casual fraud, even if some fraud still happens. Sort of like door locks. They don’t eliminate all theft. But they greatly reduce casual theft.
- Breza 4y agoI thought about this the other week when someone casually tried to walk into my house when I was sitting ten feet from the door. She was stopped by my deadbolt. No way my home security will keep out a skilled criminal, but door locks, audits, and other every level security at least raise the bar for someone seeking to do crime.
- POPOSYS 4y agoWait until you reach the exec level to better understand how internal control, audits, reviews etc. do exist to create a perfect facade and magically make everything legal that you want to be legal. Also it is a good protection from small fishes or other gangs trying to take over your game.