This case study explores the role of forensic accounting in fraud detection and the need for internal auditors to adopt a forensic investigation approach. Learn the importance of standing on your foot as an accountant by insisting that your superiors put all their requests or instructions for money in writing. The golden rule is simple — don’t give away cash unless it is receipted or signed for. NB: All names and dates are not real for client confidentiality. When I was in prison, visiting, an inmate came right after my presentation and said: “Sir, I really appreciate your talk on…
Accounting crime and fraud challenges
When I was in prison, visiting, an inmate came right after my presentation and said “Mustapha I really appreciate your talk on in-mate reformation. But how do you advise someone like me serving a jail term for a crime I never committed?” This was my first face to face with a victim of fraud, 10 years ago. Then an Accounts Officer at a local NGO, the victim was serving a jail term for misappropriation of petty cash. He was a young accountant in his first job. He explained to me that he had been requested by his supervisor, the Finance…
What is the state of your integrity?
It is so a bad state of affairs. Society is elevating people with money regardless how they got it. Many a clergy or imam, all of us look up to for ethical direction, give front seats in places of worship to folks who tithe in millions. There is no bother to establish the source of the offertory or preach against offering proceeds of fraud. To the fraudster, things are evened out when they share with the Church or Mosque proceeds of their crimes and they also get a ‘closer to the Creator’ status. A medical doctor who subjects his or…
Cybersecurity basics for law firms
The legal profession is built on the foundation of security (confidentiality, integrity and availability) of client secrets. You are right to say all professionals have a responsibility to keep their client’s secrets secret. How can a lawyer in Uganda with a team of paralegals and other likeminded staff each with a laptop / computer interconnected on the same network keep customers’ secrets on their computers secret? Put yourself in the shoes of a typical client of a law firm. You are a manager. You work in a department with other professionals. On 16th May 2017, you were asked to travel…