Monday, June 15, 2009

Theft makes for a really Bad Week

I read with interest an article about a survey done by Deloitte's Financial Advisory that co relate risk of fraud and corruption during tough economic times.
.
You'd have guessed it correctly as the survey revealed a resounding YES as answer to a question of whether respondent believe that there would be an uptrend of fraud and corruption risk during economic downturn.
.
And why do you think it should so happen?
.
Three prime reasons:
  1. Financial: financial pressure is heightened with expectations for continued growth or achieving targets. As wages stay static and the cost of living increases, employees feel the heat on their personal finances.

  2. Opportunity: due to cost cutting there could be to lack of resources and poor assignment of duties, which would eventually weaken the internal controls'; an opportunity for some to venture into corruption.

  3. Rationalise it: Opss! That means people - both employers and employees - are coming to term with accepting fraudulence and corruptions? What's happening to our conscience? The employee says "I've got nothing to lose" and Employer says "We've got to do what we've got to to to win business." Hence, the rationalisation of such act/behaviour. OMG!
I'll add this to that:- Thieves and theft become rampant during difficult times. Well maybe not at the same timing with economic downturn, but I have every right to think so. My residence, together with that of my neighbour's were broken into last week by burglars having studied our situation beforehand.
.
Have we been able to comprehend those responsible, I would not be able to guarantee that some incensed people wouldn't take the Law in their own hands.
.
What a bad week for us. Now should we blessed the culprits or should we curse them? For now, I can't see myself bend on the former, more inclined to the later, so lemme take a deep breath and compose myself before i utter something I might regret later.
.
Frightful and shocking weekend!!
.

No comments: