Detection and prosecution of business frauds: »Making better way for the future«
On the 12th of December, Association of Students of Accounting and Auditing organised a public panel at the Faculty of Economics. Moderated by journalist Vida Petrovčič, experts debated about the current economic situation, giving emphasis on the issues of the banking hole and detection and further prosecution of business frauds.
According to suitability of declines, many credits were examined and the public is already familiar with the numbers. Nevertheless, the actual share of frauds is still on the guessing level. According to Dušan Hartman, Audit Director and Member of the Board of Deloitte, the main suspect for fraud is the approval for credit under illegal and non-commercial circumstances. »Precondition for successful detection and prosecution of frauds is cooperation of the victim; in this case bank«, emphasized District State Prosecutor, Luka Moljk. Banks should offer all the needed data, but in most cases they refer to bank secret and prosecution unintentionally falls in a game of ping-pong between the investigating judge and the bank.
Aleš Behram, Manager of the Ernst&Young, focused on worse frauds, which are usually made by top management. These cases include a situation where all control is avoided and third clients are invited to join as accomplices, which even further worsens work of revisers.
Lawyer Nina Zidar Klemenčič: »In Slovenia, we have not faced the higher power of the market. There was no coincidence; these were all pure frauds, criminal acting and use of position. If bank managements would act in line with rules of good experts, in interest of the society and would respect all inside rules which existed, these sorts of credits would not be given. « Professor Sergeja Slapničar added: »Frauds were done so subtly that it is really hard to prove them.«
And where is the money today? We can only see what it was spent for and not what its further way from one specific balance was. »The chain cannot be revealed, this authority has only Office for Money Laundering Prevention«, said Zidar.
Jason Stachurski, a New Zealand Chartered Accountant and Audit Partner at KPMG Slovenia, has, as one of the most disruptive factors of the Slovenian economy, exposed connections and a lack of positive role models in the country.
As a member of the supervisory board of Krka, Slapničar has concluded the debate encouraging: »Krka is the valley of peace. There is no talk about frauds, only about new products, new markets and growth. «
Medeja Kenda, EFnews
Proofread by Živa Furlan, EFnews
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