Fraud and fraud controls in Vietnamese businesses

Abstract

The study examines the level of fraud and popular methods to control fraud in Vietnamese companies. Based
descriptive statistics using SPSS on 274 questionnaires from internal auditors, accountants and department
managers in Vietnamese businesses, the results show that at least 25% of respondents assess the level of fraud
in their organisations is popular or very popular; in which the most popular fraud type is asset misappropriation
through collusion with third parties, and income smoothing. In addition, common fraud control methods include
the establishment of particular ethical requirements and pre-employment screening. However, the businesses
have not paid much attention to controlling management fraud and settting up hotlines for reporting fraud.