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Accounting Scandal: A Case Study of Abc University, a Public University in Thailand

Sasivimol Meeampol, Phanthipa Srinammuang, Vimol Rodpetch and Ausa Wongsorntham
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Sasivimol Meeampol: Kasetsart University, Thailand
Phanthipa Srinammuang: Kasetsart University, Thailand
Vimol Rodpetch: Kasetsart University, Thailand
Ausa Wongsorntham: Kasetsart University, Thailand

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Abstract: Accounting scandals have become a systematic manifestation in the global business scenario and have consistently made the headlines which expected to continue during the years. Individuals were not satisfied so they attempt for a greater attainment regardless of integrities. The aim of this paper is to discuss the accounting frauds committed at a public university in Thailand recently. The people involved and the name of the university in this paper will be kept unknown for confidentiality purposes. Instead they will be represented by fictitious name or aliases. Thus, this institution will be known as ABC University and the people involved represented by pseudonyms. This research paper provides an insight in ways by which the huge money amounted to approximately more than 1.60 billion Baht amounting to more than $32 million of siphoned funds were manipulated. This paper is a case study revealing the sequence of events of the fraud scheme using content analysis and time frame which were on December 22, 2014 to end of February 2015. The primary fraud committed by a perpetrators and others involved was done by colluding in fraud and altering official documents. We concluded that there was a lack of best practice of internal control which is evident in both parties that leads to bad governance. Finally, ABC University scam bring responsiveness to the ABC University as a government institute in Thailand. However, no special armor against corruption; and this is noticeably a time for vigilance.

Keywords: accounting fraud; accounting scandal; AMLO; fraud (search for similar items in EconPapers)
Date: 2015
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