Governance, Fraud, and Corporate Culture: Sorting Through a Complicated Relationship
At first glance, the relationship between an organization’s fraud risk and its corporate culture might seem obvious. Even a casual observer is likely to assume that a high-pressure, results-driven organization – with a culture that tolerates or even encourages people to cut corners or find loopholes and succeed at any cost – is bound to be at greater risk of financial reporting fraud and other risks. A root cause of almost every major scandal or fraud is dysfunction in the organization’s culture, with recent history offering numerous examples.
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