1. Why fraud remains exist in the presence of corporate governance system.

Forum:

Meaning of fraud
o wrongful or criminal deception intended to result in financial or personal gain.
Meaning of corporate governance system
Cadbury Report 1992 provides a useful definition:
'the system by which companies are directed and controlled'.
An expansion might include:

'in the interests of shareholders' highlighting the agency issue involved

o
Fraud triangle/why fraud occurred?
o COMPLICITY OF AUDITORS IN FINANCIAL STATEMENT FRAUD IN
CORPORATE GOVERNANCE ,Dr. John Kwaku Mensah Mawutor(2014)
result of certain environmental, institutional, or individual forces and
opportunities
frequent incentive for fraudulent financial reporting that improves the
company's financial appearance is the desire to obtain a higher price from a
stock or debt offering or to meet the expectations of investors
Another incentive may be the desire to postpone dealing with financial
difficulties and thus avoid, for example, violating a restrictive debt covenant.