Which is more important having a good system of internal controls or hiring honest employees? Is an internal control structure necessary? Your uncle doesn’t seem to think so. He works for regional employment staffing service and recently commented, “As long as a company hires hardworking, honest people, fraud and abusive financial reporting cases will be almost nonexistent. People with integrity will always make the right choice. In the last months, we haven’t placed anyone for employment who has been fired or let go for fraudulent activity!” A friend argues, however, that anyone presented with the right pressures can commit fraud and the opportunities must be eliminated through an effective internal control structure. Who do you agree with?
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