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Corporate Failures

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Corporate FailuresForensic Failures 1Corporate Failures ContentsExecutive Summary 2Introduction 7The reasons for Corporate Failures 9Auditors: the role they played/didn t play 10No governance over fraud 18The pressure cooker syndrome 20The capability to commit fraud 22Policing fraud 27Conclusion 28Summary 33Appendix 1 Background to global case studies 34Appendix 2 Sources 38Appendix 3 About the authors 4

The case studies revealed numerous governance issues, including inter alia the following: • Non-independent board and audit committee members, for example where a CEO fulfilled multiple roles in various committees • Inadequate governance structures, for example, lack of board committees or committees consisting of a single member

  Committees, Audit, Case

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