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Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said

Corporate financial crimes, for instance, economic exploitation, fraud, and tax evasion, to name a few, bring serious consequences for the society and citizenry because, through these crimes, companies violate the revenue code of the law, and hence, are allowed to raise their profits, reduce their t...

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Main Authors: Abdullah, Wan Nailah, Said, Roshima
Format: Book Section
Language:English
Published: Faculty of Accountancy, UiTM Kedah 2019
Subjects:
HG Finance
General works. Financial institutions
Online Access:https://ir.uitm.edu.my/id/eprint/47624/1/47624.pdf
https://ir.uitm.edu.my/id/eprint/47624/
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spelling my.uitm.ir.476242021-12-01T03:36:24Z https://ir.uitm.edu.my/id/eprint/47624/ Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said Abdullah, Wan Nailah Said, Roshima HG Finance General works. Financial institutions Corporate financial crimes, for instance, economic exploitation, fraud, and tax evasion, to name a few, bring serious consequences for the society and citizenry because, through these crimes, companies violate the revenue code of the law, and hence, are allowed to raise their profits, reduce their tax payments, and even underpay their employees. Three main costs that can be associated with corporate financial crime, are the direct financial costs, physical costs, and damage to society’s moral values (McKendall, 1990). Direct financial costs are the most obvious costs of corporate financial crime. In the United States alone, for instance, corporate financial crime costs the country not less than USD200 to USD600 billion annually, more than any other crimes put together (Hartley, 2008). That is only moneywise, and it is already known that there are other consequences such crimes bring beyond the monetary numbers. The average fraud loss suffered by a company in Malaysia was estimated to be RM7.7 million per year by PricewaterhouseCoopers (2009) with 6000 cases reported yearly (Clarence, 2005). Faculty of Accountancy, UiTM Kedah 2019 Book Section PeerReviewed text en https://ir.uitm.edu.my/id/eprint/47624/1/47624.pdf ID47624 Abdullah, Wan Nailah and Said, Roshima (2019) Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said. In: Accounting Bulletin: Faculty of Accountancy UiTM Kedah 2019. Faculty of Accountancy, UiTM Kedah, UiTM Cawangan Kedah, pp. 21-22. ISBN 2637-0646
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic HG Finance
General works. Financial institutions
spellingShingle HG Finance
General works. Financial institutions
Abdullah, Wan Nailah
Said, Roshima
Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said
description Corporate financial crimes, for instance, economic exploitation, fraud, and tax evasion, to name a few, bring serious consequences for the society and citizenry because, through these crimes, companies violate the revenue code of the law, and hence, are allowed to raise their profits, reduce their tax payments, and even underpay their employees. Three main costs that can be associated with corporate financial crime, are the direct financial costs, physical costs, and damage to society’s moral values (McKendall, 1990). Direct financial costs are the most obvious costs of corporate financial crime. In the United States alone, for instance, corporate financial crime costs the country not less than USD200 to USD600 billion annually, more than any other crimes put together (Hartley, 2008). That is only moneywise, and it is already known that there are other consequences such crimes bring beyond the monetary numbers. The average fraud loss suffered by a company in Malaysia was estimated to be RM7.7 million per year by PricewaterhouseCoopers (2009) with 6000 cases reported yearly (Clarence, 2005).
format Book Section
author Abdullah, Wan Nailah
Said, Roshima
author_facet Abdullah, Wan Nailah
Said, Roshima
author_sort Abdullah, Wan Nailah
title Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said
title_short Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said
title_full Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said
title_fullStr Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said
title_full_unstemmed Cost of corporate financial crime / Wan Nailah Abdullah and Roshima Said
title_sort cost of corporate financial crime / wan nailah abdullah and roshima said
publisher Faculty of Accountancy, UiTM Kedah
publishDate 2019
url https://ir.uitm.edu.my/id/eprint/47624/1/47624.pdf
https://ir.uitm.edu.my/id/eprint/47624/
_version_ 1718929464722718720
score 13.211869

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