Business

Purpose -The purpose of the paper is to test the use of artificial neural networks (ANNs) as a tool in fraud detection. Design/methodology/approach -Following a review of the relevant literature on fraud detection by auditors, the authors developed a questionnaire which they distributed to auditors attending a fraud detection seminar. The questionnaire was then used to develop seven ANNs to test the usage of these models in fraud detection. Findings -Utilizing exogenous and endogenous factors as input variables to ANNs and in developing seven different models, an average of 90 per cent accuracy was found in the fraud detection prediction model. It has, therefore, been demonstrated that ANNs can be used by auditors to identify fraud-prone companies. Originality/value -Whilst previous researchers have looked at empirical predictors of fraud, fraud risk assessment methods and mechanically fraud risk assessment methods, no other research has combined both exogenous and endogenous factors in developing ANNs to be used in fraud detection. Thus, auditors can use ANNs as complementary to other techniques at the planning stage of their audit to predict if a particular audit client is likely to have been victimized by a fraudster.

Purpose -The paper seeks to consider the findings that emerged from a preliminary study into Cypriot businesses and their attitudes and behaviour towards corporate social responsibility (CSR). The overarching aim of the discussion is to explore whether Cypriot businesses have realized the opportunity of using CSR to build a strong reputation, a practice "embraced" and adopted by many successful and profitable corporations, or whether they ignore their social responsibilities and do it at their peril. Design/methodology/approach -A total of 4,000 questionnaires were given to the Employers Federation in Cyprus to mail to its members. Two issues were addressed: one dealing with philanthropic and the other with the stewardship CSR projects, covering social responsibility not only towards customers and society at large but also towards employees, suppliers, investors, and the environment.

Purpose-The purpose of this paper is to investigate fraud victimisation of Greek companies during the financial crisis years. Moreover, the paper seeks to encourage the implementation of proactive and reactive measures in an effort to minimize fraud victimisation. Design/methodology/approach-Drawing on an extensive literature review and utilising a questionnaire administered by Krambia-Kapardis and Zopiatis (2010), auditors and management of companies who had fallen victim to fraud provided information on the typology of fraud and on proactive and reactive measures taken after a fraud incident had been reported to them. Both descriptive and inferential statistics were utilized to analyze the collected data and address the postulated research questions. Findings-The survey has found that no industry or size of company is immune from fraud, with bigger companies and small- and medium-sized enterprises (SMEs) falling victim to industrial espionage and theft of cash and counterfeit, respectively. The banking and insurance sector appeared to be affected mainly by money laundering. Management fraud was mainly in the form of window dressing, whilst employee fraud involved predominately theft of cash and assets. Loss of reputation emerged as the main concern for the victim, and it had a determining impact on deciding not to report cases to the police. Research limitations/implications-Because of the sensitive topic being investigated and despite having assured the respondents that their anonymity would be guaranteed, the respondents were hesitant in responding. Thus, the response rate was 16.4 per cent, slightly lower than a similar study carried out in Cyprus (Krambia-Kapardis and Zopiatis 2010). The findings, however, are considered to be reliable, given the fact that the respondents were individuals well versed with the topic under investigation and in a position to know if their company had fallen victim to fraud. Practical implications-The findings have practical relevance to both industry stakeholders and academics who wish to further explore fraud victimization in the Greek business environment. Given that the financial crisis in Greece is continuing, fraud risk assessment ought to concentrate in the area of cash, and preventative measures need to be considered by the regulators and the victims. Originality/value- Whilst fraud victimisation studies are becoming popular by the Big 4 accounting firms, there is no fraud victimisation study concentrating on the typology of fraud in Greece. With this survey, it will be possible to draw conclusions and make suggestions to the accounting profession on how to combat fraud, at a time, when the economic crisis is persisting and fraud is expected to escalate.

Each generation that enters the workforce brings with it its own unique perspectives and values, shaped by the times of their life, about work and the work environment; thus posing atypical human resources management challenges. Following the completion of an extensive quantitative study conducted in Cyprus, and by adopting a qualitative methodology, the researchers aim to further explore the occupational similarities and differences of the two prevailing generations, X and Y, currently active in the workplace. Moreover, the study investigates the effects of the perceptual generational differences on managing the diverse hospitality workplace. Industry implications, recommendations for stakeholders as well as directions for further scholarly research are discussed.

In order to understand attitudes towards workrelated ethics and the teaching of business ethics in management programmes at universities, a survey was conducted with management students at two universities, one in the Republic of Cyprus (hereafter referred to as Cyprus) and the other in the Republic of South Africa (hereafter referred to as South Africa). An attempt was also made to investigate whether such differences, if any, were linked to differences in national culture. The findings indicate that no significant differences between the two samples exist on four of the five dimensions of national culture (Hofstede, 1994) and, accordingly, differences in attitudes towards workplace ethical issues cannot be said to be linked to this variable. Significant differences were found between the two samples on certain questionnaire items that related to workplace practices with the Cypriot sample, more so than the South African sample, appearing to be willing to engage in certain workplace practices that would be deemed unethical in society. It is recommended that ethics education be integral to a business curriculum and that teaching methodologies explore ways in which to develop moral reasoning in students.