engleski

Challenges and perspectives in fraud prevention and detection for management

This chapter gives an overview of the challenges which are brought upon management in the area of corporate fraud prevention and detection. Management must not rely on auditors to detect fraud during an audit of financial statement, due to the fact that fraud detection is not a main purpose of such audit. Therefore, it is management’s role to implement an efficient fraud prevention program, and this paper discusses the possible perspectives in that area. Two main research questions are examined and discussed in this chapter: (1) CFOs and shareholders views regarding auditor’s role in fraud detection, and (2) identification of an efficient fraud prevention and detection measures for the management’s anti-fraud program. The answer to these questions will be provided based on the empirical research conducted in the Republic of Croatia, and the examination of the relevant literature in the field of fraud prevention and detection, financial reporting and auditing.

fraud, management, auditors, prevention, detection

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