THE EFFECTIVENESS OF CORPORATE CULTURE, AUDITOR EDUCATION, AND LEGISLATION IN IDENTIFYING, PREVENTING, AND ELIMINATING CORPORATE FRAUD

Beverley Alleyne
Belmont University
Pesi Amaria
Management Consultants
ABSTRACT
Current laws, regulations, legislations, ethics programs, internal controls, and frequent
audits have not deterred corporate fraud. There is plenty of evidence to show how a company that
recognizes the importance of strong corporate culture with internal controls benefits. The study
revealed that most respondents agreed that corporate culture helped in identifying, eliminating,
and preventing corporate fraud. However, auditor education and legislation helped in identifying
corporate fraud but were shown to be less effective in eliminating and preventing fraud. The
study’s main limitation is that the majority of respondents were from the service industry.