Managerial Fraud: Executive Impression Management, Beyond Red Flags

Senior managers are more likely to commit fraud and take longer to uncover than other occupational groups. Dr. Terry Sheridan's study of fraudulent executives reveals two types of fraudsters with different behaviors. The current Red Flag approach fails to identify potential fraudsters, leading to further audits that find nothing of substance. Understanding these findings can help organizations reduce their exposure to fraud perpetrated by their own senior management.

\n Format: Paperback / softback
\n Length: 304 pages
\n Publication date: 30 September 2020
\n Publisher: Taylor & Francis Ltd
\n

Senior managers are responsible for the majority of frauds that take longer to uncover than those committed by other occupational groups. These frauds result in significant losses for organizations worldwide. The current approach used by auditors, known as the Red Flag approach, aims to prevent and uncover fraud. However, it fails to catch managerial fraudsters quickly or effectively. In her book "Managerial Fraud," Dr. Terry Sheridan conducts a study of fraudulent executives and reveals the methods they employ to appear more authentic than average individuals. She identifies two types of executive fraudsters with distinct behaviors.

The current Red Flag approach focuses on Red Flag executives who are negative characters but non-fraudulent, leading to unnecessary audits and wasting valuable resources. During the author's research, innocent colleagues who worked closely with fraudulent managers were interviewed, and their impressions were analyzed. This led to the development of an innovative typology of fraudulent executives based on Impression Management Theory.

Better understanding of what Dr. Sheridan has uncovered can help organizations reduce their exposure to fraud perpetrated by their own senior management. It emphasizes the importance of implementing robust fraud detection and prevention measures, including regular audits, employee training, and whistleblower policies. Additionally, organizations should prioritize transparency and accountability, fostering a culture of ethical behavior and ethical leadership.

In conclusion, managerial fraud is a significant problem that requires urgent attention. By implementing effective measures and fostering a culture of ethics, organizations can mitigate the risks associated with fraud and protect their assets and reputation.

\n Weight: 538g\n
Dimension: 174 x 244 x 24 (mm)\n
ISBN-13: 9780367669195\n \n