- April 22, 2015
- Posted by: STERLING FINANCE
- Category: Your Business
Accountant is not just about figures. Accountant should mean confidence, knowledge and prevention. It also means feeling of security, peace and trust.
Corruption. What is it leading to?
Fraud and corruption is swipping the UK and the rest of the world so much this days, that it is becoming a “bread and butter” situation for some businesses. In many ways it can be compared with a bubble that is filling up until it burst. But where this is leading to?
Fraud and corruption has always been there, but as everything else in life, what ever we do will only succeed if there is a need for it. So services that one provide will be successful untill there is people who continue to need it. Product will last untill there is continuation in purchasing.Simple system of exchange, that could make everyone happy. However, the most comprehensive statistics on fraud, done by Transparency International show that fraud in the UK alone cause loses of £73 billion each year. While 2% of UK GDP (£48billion) each year is laundered via UK.
The statistics are horrific, in the light of the fact that many UK citisents are suffering hardship, due to the ill consideration and greed of unscrupulous people whose way of thinking does not go beyond the “£” sign.
From the business prospective, this figures are only prove that Accountants, have the reponsibility to be aware of this and should take up on them selves to do all in their power to prevent their clients from such practices. Thus as we learned few weeks ago, even in such a powerful position as an Accountant these practice is also found, as we have learned few weeks ago when an Accountant was found guilty of fraud.
In todays news we hear about the NHS and missmanagement of millions of pounds in “Greed of the NHS fat cats” that situation is continuing to be difficult. Tomorrow will be something else. How can this “train” be stopped? In business, the responsibility lay with business peers , then goes down the ranks. The second tier in the control is the financial director, Accountant, then the employees. In reality, we should all take responsibility up on our selves. That means, don`t allow our selves to be lead to any situation that is unclear and dishonest. Sometimes at a cost, but with a clear conscious.
What is your stance on fraud and corruption? Let’s discuss.