Richard Stephens, Contributor
Former Soviet communist party politburo member Alexander Yakovlev is seen in Moscow in this April 15, 1994 file photo. The veteran U.N. procurement official pleaded guilty on August 8, 2005 to conspiracy, wire fraud and money laundering charges after investigators found evidence he took nearly US$1 million in illegal payments from the winners of U.N. contracts worth US$79 million. - REUTERS
BUSINESS PSYCHOLOGISTS tells us that many people steal from work because they feel unappreciated and undervalued. I think, this is an apple and orange issue. However, as I see it, there are two types of corporate 'thieves'.
The first group includes the average employee who takes home that roll of tape or those paper clips and stationeries, or who sneaks a long distance or cellular call ever so often. The second group includes employees that are harbouring grudges - a missed promotion, perhaps a lower than expected raise, and people who are simply dishonest and carry their behaviour into the office. These people will do heavy duty stealing if they can get away with it.
Fraud is very hard to detect by its very nature, but not impossible. There are signs to watch out for.
Once identified, a course of action should be followed; wrong moves could greatly make matters worse for example: By warning the perpetrator and giving him or her time to destroy evidence and hide stolen funds.
How about the member of staff who becomes the employers dream, First in each morning, last out in the evenings, never away, always prepare to take on that extra responsibility and also overly polite. That's often the way corporate thieves works.
Frauds are nigh on impossible to maintain while away from the firm, and any temporary passing over of responsibilities may lead to another member of staff discovering discrepancies.
Among the suggested remedies for corporate thief are a variety of surveillance methods, including electronic monitoring and even asking other employees to watch out for and report those who do steal.
Setting Standards
Dealing with both deliberate and inadvertent theft starts with making Private Practising Accountants as detectives. Well, not exactly-but the practice of using them as expert witnesses as always been, but seemingly growing is their appearance with clients in the TAX COURTS, since that court had been established a few years ago.
Dr. Richard Stephens of FEMAT
Richard Wayne Alberga Stephens & Co, Certified Chartered Financial Consultants
Incorporated Financial Accountants & Management Consultants
