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What seems to be more detrimental to an organization? Internal or External Fraud? (N.B.: NO RIGHT OR WRONG ANSWERS; GIVE UR OPINION).

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Question ajoutée par Farah Abla , Financial Control Officer , Arab Bank plc
Date de publication: 2015/03/19
Khaled Mohee Eldeen Abbas Mahmoud
par Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed

fraud is not good at all to an organization, weather it is internal or external fraud. from my point of view internal fraud is more detrimental to an organization than external fraud. because, this a sign of weakness in control system inside the organization which allow internal fraud and external fraud as well.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Internal fraud is more detrimental to the interest of the organization.;  It is just  like the fence eating up the crop where the purpose of it is actually to protect the crop.

 

Utilisateur supprimé
par Utilisateur supprimé

In my opinion the internal fraud is very dangerous because organization doesn't expect it . It is devastating to organization if exist .

IMRAN ALI MOHAMMED
par IMRAN ALI MOHAMMED , Accounts Officer , M/s. Euro Glazing Ltd

Indeed it is the Internal Fraud which will have a serious impact on organisation leading to financial losses, redundancy, loss of business and even closure of business. It decays the pillars on which the organisation stands leaving it hallow from inside, while the organisation might look standing firm to the outer world. Sometimes the management is to be blame for it like, unachievable targets, conflict of interests, underpay, etc. Strong internal controls must be placed to deter the employees from doing fraud along with proper monitoring and surprise checks.

Mohammad Afzal Khan
par Mohammad Afzal Khan , Accountant , Almarai

External fraud is more detrimental for any organization, its shows lack of controls and inefficient   Managements while internal fraud can be dealt by taking action, while external fraud proved to be costly.

Anas  Dawah
par Anas Dawah , Senior Internal Auditor , Talal Abu-Ghazaleh Global (TAGI)

internal fraud because internal people  know more about weaknesses within the organization, and Usually they are trusted so their damage will be greater

Remesh Punnoparambil
par Remesh Punnoparambil , Secretary , Sakhir Palace

Internal........because that can destroy the base of business....

Salah Othman Yousef Alshambaati
par Salah Othman Yousef Alshambaati , مدير ادارة الحسابات , شركة انفال الجديدة للتجارة والمقاولات

I agree with Mr. answer VENKITARAMAN KRISHNA MOORTHY VRINDAVAN

Hatem Ben Yacoub
par Hatem Ben Yacoub , Consultant , Web Foundation

They are both detrimental to any organization, wether it's internal or external. However there are different ways to protect the organization from inside and outside. Most organizations focus on the external security, and work hard on it : securing themselves from the unknown and that's costly, but keep the insider vulnerable. Otherwise both deserve similar attention.

FITAH MOHAMED
par FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

I agree with Mr.  VENKITARAMAN & MR KHALD answers

Anuj Chadha
par Anuj Chadha , Head of Operational Risk , Ahli United Bank

Internal fruad since for exteral fraud we keep controls in place to ensure the liklihod remains very less but in case of internal fraud the staff intentionally ignores those process steps or controls and creates intentional deception which is very difficult to control

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