Teresa I. Fernandez Toll, Keiser University, Fort Lauderdale, Florida, U.S.A.
Diann Ferrell, Keiser University, Fort Lauderdale, Florida, U.S.A.
Joan Cezair, Keiser University, Fort Lauderdale, Florida, U.S.A.

Published in

Volume 21, Issue 1, p15-21, October 2021


This paper examines workplace fraud, its prevalence in corporate life and the ways in which effective internal control systems can prevent and/or reduce the high cost of fraud. Fraud is a serious problem for all types of corporations no matter the size or the line of business. Business owners need to increase the alternatives to avoid or reduce fraud. Businesses need a well-organized internal control system because businesses change every year and so need to change the methods in which they deal with fraud. Employees need to be educated about fraud, aware of the corporation’s internal controls and be active in maintaining an environment of positive attitudes toward fraud prevention, detection, and mitigation. This paper reviews various types of fraud and the preventive ways to combat them and is an early step for extended future research into internal control systems and their impact on preventing and/or reducing the high cost of fraud


Fraud, internal controls, fraud prevention, fraud detection, fraud mitigation

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