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Essay / Guilt-based fraud: Gregory Ponzi scheme and finances...
But stakeholders play a very important role in preventing and deterring fraud. Stakeholders include customers, suppliers, employees, community and government. Everyone plays an important role because they have an interest in the integrity of the publicly traded company's financial reports. Employees have a vested interest in the success of the company and have a responsibility to protect their interests. Their roles may start at the bottom, but they are key players in the business. To help deter or prevent financial statement fraud, the employee must report financial statement fraud if it is detected. This can be done through a vigorous whistleblower program or other company-provided tip line. The community and its members, including the media, can play a regulatory role in confirming that the company is a good citizen with fair business practices. Shareholders must ensure that any company they wish to invest in meets oversight and ethical standards. Investors must also play an active role. They should be actively involved in monitoring the companies they invest in. They should regularly attend the shareholders' meeting to discuss their concerns and audit the company's books. This will allow them to keep up to date with what is happening within the company. Shareholders must always remain vigilant and do