Understanding and unlocking mean and ways of managing corporate fraud -An effective step for unearthing corporate evil Chaturvedi Vijit, Assistant Professor, Dr. Yadav D.S Lingaya's University, Faridabad Online published on 13 February, 2012. Abstract With consistent up roaring in technical advancement, policies and practices there also has been an increase in unethical practices and scams which have unraveled a new path drawing attention of organization at large to strengthen and design their control system in a more vigilant way. Though Business ethics applies and examines different ethical principles and morals that arise in a business environment but irrespective of this either due to undefined and unchecked authority and task advantage is taken in a wrong and unethical ways that hamper the interest of different stakeholders at large. At organization level as well at Global levels scams and frauds that affect the reputation of the organization and belief of those whose interests are invested become challenging. Scams and frauds are consequences of improperly practiced ethical values in section of society. The present paper conceptually aims at assimilating different frauds and scams that had occurred in recent times in times and their dysfunctional outcome in Indian context. The paper focuses on different reasons, characteristic of frauds occurrence. It also focuses on different measures at organization level to identify, analyze and practice to minimize the chances of happening of such undesired scams. The discussion concludes that though scams and a fraud whether larger or limited to any specific function are quite common but if an organization becomes more conscious and prepares itself proactively and on a consistent way identifying and neutralizing the effect of these frauds is possible. The role of Corporate Governance, Role of Auditors and consistent monitoring practices followed by employees participation, training in ethical practices and assessing any organization, tasks or work related reasons that propel individual to involve in any such unethical practices can thus be avoided. The study has implications in all organization since due to increasing economic, work and career growth pressures both from personal and professional front employees if not suitably trained and monitored may become a victim of such undesired scams. Thus it's the responsibility of management to make employees conscious and set proactive regulatory mechanism to create a healthy, ethical and transparent organization culture at large. Top Keywords Fraud management, Corporate Management, Ethical practices. Top |