NCJ Number
12791
Journal
Management Accounting Volume: 54 Issue: 12 Dated: (JUNE 1973) Pages: 49-50
Date Published
1973
Length
2 pages
Annotation
DISCUSSION WITH A NATIONAL EXPERT ON EMBEZZLEMENT, KICKBACKS, AND INDUSTRIAL LARCENY AND THEFT.
Abstract
IN A QUESTION AND ANSWER FORMAT, CONSULTANT NORMAN JASPAN RELATES SEVERAL KEY FINDINGS OF HIS INVESTIGATIVE FIRM ON WHITE COLLAR INDUSTRIAL CRIME. HE ESTIMATES THE AMOUNT LOST ANNUALLY TO THEFT, EMBEZZLEMENT, AND KICKBACKS TO BE FIVE BILLION DOLLARS. THESE CRIMES ARE OFTEN COMMITTED BY ACCOUNTANTS, PURCHASING AGENTS, OR PERSONS IN EXECUTIVE OR SUPERVISORY CAPACITIES. AUDITS, HE CONTENDS, ESPECIALLY WITH COMPUTERIZED RECORD KEEPING, RARELY UNCOVER BUSINESS LOSSES WHICH RESULT FROM CLEVER SCHEMES. ONLY SPECIALISTS ARE CAPABLE OF ESTABLISHING CONTROLS TO PROTECT THE COMPANIES ASSETS.