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when he introduced a gem stone, the Gem of Tanzania, into Wrekin
Construction’s accounts (Appendices 2,3).
Diagram 2
According to the Global Fraud Study (GFS (2) (15)) the most commonly
cited method of detecting fraud in cases perpetrated by owners and
executives is the tipoff. The rationale for this is that internal controls tend
to be negated by top-level officials who are uniquely positioned to over-
ride even the best-designed controls.
GFS also highlight that in contrast, external audits detected a greater
percentage of cases involving owners and executives (diagram 2). This
underscores the importance of independent assessments and external
accountability as well as the need for auditors to be especially vigilant in
reviewing transactions involving owners and executives.
Added to these assessments Wrekin and Unwin were increasingly being
subjected to a growing body of online criticism.
