Corporate Responses to Financial Crime : From Exposure to Investigation

This brief extends studies on how corporations respond to scandals by examining the evolution of the accounts that corporate agents develop after a scandal becomes public. Guided by the theory of accounts and a recently developed perspective on crisis management, its examines how the accounts developed by thirteen corporations caught up in highly publicized scandals changed from the time of initial exposure to the issuance of an investigative report. This brief continues the discussion of the broader managerial and social implications of the analysis of accounts, and analyses their effect on our understanding of the ability of corporations to weather serious scandals. It includes four case studies; from Switzerland, Moldova, Denmark, and Norway respectively. Introduces the corporate crisis-response match perspective to assess corporate response strategies to scandal Incorporates four recent case studies Applies convenience theory to financial crimes by white-collar offenders Preface......Page 6 Contents......Page 7 Chapter 1: Introduction......Page 9 References......Page 13 Chapter 2: Corporate Deviance Accounts......Page 18 2.1 Emerging Corporate Scandals......Page 19 2.2 Emerging Corporate Accounts......Page 20 2.3 From Exposure to Investigation......Page 22 2.4 Content Research Method......Page 25 2.5 Wells Fargo Case Study......Page 29 2.6 Content Research Results......Page 31 2.7 Corporate Executive Destiny......Page 40 References......Page 43 3.1 Evolution of Corporate Accounts......Page 50 3.2 Response Match Research Question......Page 53 3.3 Response Literature Review......Page 54 3.4 Response Match Research Method......Page 56 3.5 Response Match Research Findings......Page 59 3.6 Theoretical Contribution......Page 63 3.7 Future Research Ideas......Page 65 References......Page 68 4.1 Government or Governance......Page 73 4.2 Misconduct and Crime Detection......Page 75 4.3 Sample of White-Collar Convicts......Page 77 4.4 Investigative Journalists......Page 78 4.5 Fraud Examination Reports......Page 80 4.6 Examination Maturity Stages......Page 89 References......Page 90 Chapter 5: Switzerland Case: Fifa World Cup......Page 94 5.2 Bidding Investigation Process......Page 95 5.3 Fifa President Joseph Blatter......Page 96 5.4 Fifa Executive Committee Members......Page 97 5.5 Australia and Qatar Whistleblowers......Page 98 5.6 Misconduct Investigation Conclusions......Page 100 5.7 Fraud Examination Review......Page 101 References......Page 102 Chapter 6: Moldova Case: Bank Transactions......Page 103 6.1 The Kroll 2015 Investigation Report......Page 104 6.2 The Kroll 2017 Investigation Report......Page 105 6.3 Business Mayor Ilan Shor in Orhei......Page 106 6.4 Fraud Examination Review......Page 107 References......Page 108 7.1 Grants Administrator Britta Nielsen......Page 109 7.2 The PwC 2019 Investigation Report......Page 111 7.3 Fraud Examination Review......Page 113 References......Page 114 Chapter 8: Norway Case: Environmental Crime......Page 115 8.1 White-Collar Convenience......Page 116 8.2 Environmental Crime......Page 118 8.3 Vest Tank Case Description......Page 119 8.4 Convenience Case Study......Page 121 8.5 Deductive Integration......Page 124 References......Page 125 9.1 Investigation Background......Page 129 9.2 Investigation Procedure......Page 130 9.3 Investigation Results......Page 132 9.4 Fraud Examination Review......Page 133 References......Page 134 Chapter 10: Sweden: CEO Benulic Accounts......Page 135 10.2 Accounting Manipulation......Page 136 10.3 Fraud Examination Review......Page 137 References......Page 139 Chapter 11: Conclusion......Page 140 Index......Page 142 "This book documents that when corporations are caught up in scandals, they initially pursue one of three strategies to account for their actions--denial of wrongdoing, obfuscation, or denial of responsibility. In the sample of thirteen cases, these initial responses were not successful in that they did not quell public interest and condemnation of the corporations involved."--Preface