The Fraud Facts in Turkey

• Most of the compnies are managed by family members and single person is ty,ng to manage everything,
• Corporate environment is missing,
• There are internal audit system and audit waeknesse. There areusually no effots in these aspects,
• The owner usually runs the company,
• There is uually a second person with the company owner who is called “trustable”,
• As the number of white collar employees are not many, segregation of duties is usually missing,
• The second man who is called trustable is usually too much authorized,
• As the second man has control over the cheques, bank and cash, he can make fraud using his position,
• Most of the frauds in the companies are unveiled and closed,
• When the trustable second man is caught with fraud, employer can not dare to face with him,
• Only when the company owner learns that he has important financial loss, he needs to take precautions.

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