UK prone to Enron-scale scandal say IT bosses

Some 77 per cent of senior IT professionals surveyed by document management firm Version One believe that a case of fraudulent activity 'on the scale of Enron' could happen in the UK

Version One carried out the research with 70 senior IT professionals (IT directors and managers) across a range of public and private sector organisations.

Such a scandal would be due to "greed, panic, lax systems and apathy", the survey states; 89 per cent stated that someone in their organisation would be able to tamper with or 'lose' a document to suit their ends, while 30 per cent admitted that they had come across activity that could be considered fraudulent involving business documents.

Two-thirds of these confessed that they had 'witnessed document fraud̷0; a number of times'. Only a minority of respondents - 6 per cent - feel that current UK financial regulations would prevent a similar Enron-scale case of misreporting.

"Organisations need to carefully consider whether their current systems and processes allow unscrupulous employees to easily commit fraud by doctoring or 'losing' documents, creating a false audit trail," comments Version One general manager Lynne Munns.

Further information:
www.versionone.co.uk

Image: An Enron-style scandal would be due to 'greed, panic, lax systems and apathy', say IT bosses

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