The impacts of fraud on SMEs. A case study of Chicken Matty Bindura.

Author

Kudakwashe P. Sirewu

Title

The impacts of fraud on SMEs. A case study of Chicken Matty Bindura.

Abstract

This study sought to assess the impacts of fraud on SMEs, using Chicken Matty as a case study. The objectives of the study were to identify causes of fraud on SMEs, the types of fraud on SMEs, the impacts of fraud and to recommend strategies to curb fraud on SMEs. The target population of the research was the employees of the organization with a sample size of 25 respondents gathered from five different departments. A descriptive research design was engaged as well as questionnaires and interviews in order to gather data. Microsoft Excel (2013) was used to analyse the data which was then presented using bar graphs and tables. The study revealed that fraud is present within the sector and these were wage sheet manipulation, embezzlement, forgery, embezzlement, bank card fraud, manipulation of vouchers and fraudulent cheques. The research further proved that the causes of fraud prevalent were poor remunerations, poor internal control systems, technical ability, greediness, opportunity and lack of job rotation. The impacts of fraud detected were loss of reputational advantage, realization of profits, job losses, market distortion and reduced customer confidence. The research recommended that compensation packages, staff training, and whistleblowing, penalize offenders, awareness campaigns forensic auditing, segregation of duties, and employing of financial intelligence personals are some of the strategies that can be employed to curb fraud within the SME. The study demonstrated that combating fraud in Zimbabwe requires a much more concerted strategy by those who are prone to being victimized

Date

2023

Publisher

BUSE

Keywords

Fraud

Chicken Matty

Supervisor

N/A