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Corporate Failures

Corporate FailuresForensic Failures 1 Corporate Failures ContentsExecutive Summary 2 Introduction 7 The reasons for Corporate Failures 9 Auditors: the role they played/didn t play 10No governance over fraud 18 The pressure cooker syndrome 20 The capability to commit fraud 22 Policing fraud 27 Conclusion 28 Summary 33 Appendix 1 Background to global case studies 34 Appendix 2 Sources 38 Appendix 3 About the authors 412 Corporate Failures Executive summary Fraud does not always result in Corporate failure, nor do Corporate Failures occur only as a result of fraud.

Excessive debt to fund expansions or personal expenses ... where a CEO fulfilled multiple roles in various committees • Inadequate governance structures, for example, lack of board ... pay attention to small things, otherwise they would get out of control and

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