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An Exploratory Study of Internal Control and Fraud Prevention Measures in SMEs

Author

Listed:
  • Jaya Kumar Shanmugam

    (Universiti Malaysia Terengganu, Malaysia)

  • Mohd Hassan Che Haat

    (, Malaysia)

  • Azwadi Ali

    (, Malaysia)

Abstract
Small business and entrepreneurship has emerged as an important area of research over the past 40 years. This paper revolves around the issues of the internal controls, fraud and it prevention measures on SMEs performance. The level of fraud incidence as reported by owners is still at a very low level and the overall cost incurred is still within expectation. However, there is a question of whether the low reported rate of fraud is due to adequate preventive actions currently employed by owners, or whether the owners are reluctant to reveal the truth in order to portray their efficiency and effectiveness in running their businesses. This conceptual paper attempts to analyze relevant literature on internal control, fraud, current trends on fraud and business crime prevention measure. Based on the literature, a future research could be suggested in the context of Malaysia. It is hoped that future research on this aspect will uncover the relationship between the effectiveness of internal control and fraud on SMEs and to gauge the adequacy of fraud prevention measure taken by SMEs owners in Malaysia. It is expected that effective internal control and the presence of appropriate fraud preventive measures will help to improve SMEs performance.

Suggested Citation

  • Jaya Kumar Shanmugam & Mohd Hassan Che Haat & Azwadi Ali, 2012. "An Exploratory Study of Internal Control and Fraud Prevention Measures in SMEs," International Journal of Business Research and Management (IJBRM), Computer Science Journals (CSC Journals), vol. 3(2), pages 90-99, April.
    • Handle: RePEc:aml:intbrm:v:3:y:2012:i:2:p:90-99
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    File URL: https://www.cscjournals.org/manuscript/Journals/IJBRM/Volume3/Issue2/IJBRM-75.pdf
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    File URL: https://www.cscjournals.org/library/manuscriptinfo.php?mc=IJBRM-75
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    References listed on IDEAS

    as
    1. Coutorie, Larry E., 1995. "The future of high-technology crime: A parallel Delphi study," Journal of Criminal Justice, Elsevier, vol. 23(1), pages 13-27.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Tuan Zainun Tuan Mat & Danny Shahmizi Teh Ismawi & Erlane K Ghani, 2019. "Do Perceived Pressure and Perceived Opportunity Influence Employees¡¯ Intention to Commit Fraud?," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(3), pages 132-143, May.

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    More about this item

    Keywords

    Internal Control; Fraud; Small and Medium Enterprises;
    All these keywords.

    JEL classification:

    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General

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