APPLICATION OF ETHICAL PRINCIPLES TO FRAUD
DOI:
https://doi.org/10.67199/bbzk6702Keywords:
Ethics, Fraud Prevention, Ethical Principles, Transparency, Accountability, Whistleblowing, Organizational IntegrityAbstract
Fraud continues to be an all-too-common issue in organisations around the world and can affect financial stability, stakeholder trust and organisational integrity. This research project looks into how the ethical principles are utilized in fraud prevention/detection and how integrity, transparency, accountability, ethical decision-making and whistleblowing help deter fraudulent behavior. The study adopts a conceptual research design and secondary data sources, such as academic journals, books, professional reports, and institutional publications, and document analysis and literature synthesis to analyze the relationship between ethics and fraud control. The results indicate that high levels of ethical culture, robust internal controls, ethical leadership and transparency have a significant impact on reducing the risk of fraud, whereas low levels of ethical culture have a significant impact on vulnerability to fraud. This study also provides an examination of the implications of fraud and ethical lapses, such as monetary losses, legal repercussions, and reputational harm. The study concludes that ethical principles can be valuable tools to advance organizations and society's integrity, accountability, and transparency. It suggests the development of strict codes of ethics, frequent ethics education and training, ethical leadership, and effective compliance frameworks to improve fraud prevention and restore trust by the public.
Keywords: Ethics, Fraud Prevention, Ethical Principles, Transparency, Accountability, Whistleblowing, Organizational Integrity.
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