Finance Blog

Does fraud come hand in hand with power? The final contemporary finance issue that we were taught in the international finance and responsible finance management module was financial ethics. In this blog I am going to investigate this financial issue and relate what I have learnt to some real-life instances of such ethical issues such as fraud. “Fraud encompasses an array of irregularities and illegal acts characterized by international deception. It can be perpetrated for the benefit of or to the detriment of the organization and by persons outside as well as inside the organisation”   (O'Gara, 2004) . A typical organization loses about 5 percent of its revenue to fraud each year, according to a 2012 report by the Association of Certified Denver Business Journal Strategies: How to detect and prevent workplace fraud (Albrecht, 1982) . Research has shown that financial enticements within an organisation can tempt individuals to commit ethically questionable and fraudul...

How useful is a bank without money? For this week’s blog I am going to be reflecting on the multimedia financial documentary RBS: Inside the bank that ran out of money. RBS (Royal Bank of Scotland) was founded in Edinburgh in 1727. It went on to become one of the biggest banks in the whole of Scotland (RBS, 2019) .  Royal Bank of Scotland then went on to acquire many other banking organisations to grow their company, one of the most well-known names in the UK being Natwest. What started of as a medium sized successful banking organisation slowly started to grow into the large corporation we know today, but the journey was not easy and all was around 2 hours away from going completely bankrupt on the 13 th of October 2008 (The Telegraph, 2011) . As over 10 years has passed since the bailout of RBS from the UK government, does not mean that this event has been forgotten. All issues seemed to begin when RBS gained a new chief executive Fred Goodwin.  Goodwin was ...