Fraud and corruption – definitions and impact

What is fraud?

Fraud is dishonest activity causing actual or potential financial loss to any person or entity including theft of personal identity, moneys or other property by employees or persons external to the University and where deception is used at the time, immediately before or immediately following the activity. This also includes the deliberate falsification, concealment, destruction or use of falsified documentation used or intended for use for a normal business purpose or the improper use of information or position for personal financial benefit.

The concept of fraud involves fraudulent or corrupt conduct by internal parties or external entities targeting the University, or fraudulent or corrupt conduct by the University itself targeting external entities.

What is corruption?

Corruption is dishonest activity in which a person abuses his/her position of trust in order to achieve some personal gain or advantage for themselves, or provide an advantage/disadvantage for another person or entity.

Corrupt conduct can take many forms including:

  • conflicts of interest
  • taking or offering bribes
  • dishonestly using influence
  • blackmail
  • fraud
  • theft
  • embezzlement
  • tax evasion
  • forgery
  • nepotism and favouritism

NOTE: Corruption does not include mistakes or unintentional acts.

The Value of Leadership in the Labour Market and Business Environment

Leadership is a quality that is highly prized by employers. It is difficult to define and even more difficult to measure.

Effective leaders motivate and develop their staff to get the best performance out of them, they have happy teams and low staff turnover rate. So it makes economic sense to employ skilled, talented and gifted leaders.

They create and develop a Vision, encourage a team to engage with the Vision, manage delivery of the Vision while building, developing and mentoring the team.

Managing the delivery and coaching the delivery team is where Leadership meets Management. Often the same person is the Leader and Manager, and the requisite skills sets collide and overlap.

Sometimes the Visionary has a management team around them to handle delivery of the Vision. But the thing that sets Leaders apart from Managers is the Vision.

The Vision
The Vision is about looking ahead, seeing a way to improve things, a transformation, and making the changes happen. It can be a product or a service.

Think of having the vision to create Facebook, the World Wide Web, or Google.

In Politics it is the people who had the Vision of transformational policy change such as Racial Equality, Equality for women, Votes for women, Education for all, Equal pay, Healthcare reform. Continue reading The Value of Leadership in the Labour Market and Business Environment

Can Everyone be a Great Leader?

I think a good analogy is that of a talent such as the ability to dance, sing, act, play football or be a successful athlete.

Those people are born with a set of skills and talent that enable them to excel in their chosen field. They may show an inherent ability and interest, and will have some raw skill. But given the correct environment and training the skill will be honed, the talent will blossom and the person will become proficient in their field.

It is very difficult to produce a world class footballer, actor, singer etc. from a person who does not have the inherent ability. It is possible to develop what skill there is within the person, but not to produce a world class performer.

In the same way, there may be people who could potentially be world class, but if they are never shown the way, offered the opportunity, then they will not realize their hidden potential.

So I am saying that to produce a great leader, an effective leader, it is helpful to have the correct raw material to work with, someone who has an inherent talent for leadership. But also, I am saying, everyone can be helped to improve their leadership skills.

What are we learning here?

As in everything, if we analyze the component parts of the skillset required, we can work on them separately and develop and improve our Leadership potential.

We have considered many of the skills required already on this course. Now I propose to revisit the ones that you can work on to improve your leadership potential in this new separate module. I will include the link to the original module, so you can revisit if you want to revise it, and I will briefly summarize the original module for you.

Trait and Situational theory
Leadership trait theory is an early leadership theory, and asserts that there are certain inborn traits or attributes that mean people are more likely to succeed as leaders. So it infers that leaders are born, rather than made.

Early research on the traits of leaders failed to show significantly different traits in leaders and followers. Further studies led to observations that people are not always leaders or followers in different situations. Let’s consider an example.

Two people work in the same business. A is a senior manager in the business, B is an employee at a much lower level.

Both are members of a different group –say a choir, or amateur football club. Here B is the choir leader, or team captain, and A is an ordinary member of the group.

B leads the group, in the same way as A leads the department in the company.

Their behavior in each setting is different. Why is this?

Because they have adopted different roles in each instance, and so assume the authority and command the respect conferred by their position.

Different people take the lead in different situations that require different skills. It is also influenced by the way that teams work together. In teams people tend to assume the role they are best suited to, unless that role is taken already, in which case they will slot in where they fit best.

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* THE POWER OF EXCUSES*

While Many People Dream of Becoming a Better Person Than the Previous Year, Only a Few actually Do it.

WHY?

While Many People Dream of Quitting their Job and Starting their Own Business, Only a Few actually did  it.

WHY?

WHY Is It That Some People Are More Successful Than Others?

BECAUSE the Power of their Excuse is More Powerful than their DREAMS.

  1. FEAR.
  2. I don’t have the Money (who has?).

  3. I don’t have any contacts to start with (Really?).

  4. I’m not smart enough (You have crowned yourself as a mumu)

  5. I can’t talk (Are you dumb?)

  6. I don’t have the time (Yet you have the time to wake up at 5am and get dressed in the traffic)

  7. I’m too busy (Doing what exactly?).

  8. It takes too long to build a business (But you envy Dangote)

  9. I’m afraid. Building a business is too risky for me (Is eating not risky? Is sleeping not risky, people hv died in their sleep).

  10. I don’t like dealing with people ( Mr Island… I greet You your Excellency)

  11. I’m too old ( Colonel Sanders started @ 65yrs)

  12. Waiting for all the lights to be GREEN (lights turn green when you press the button)

  13. MY husband, my wife, my parents didn’t support it (They don’t support You to be broke either but You are).

  14. My job is too demanding and I travel a lot (Arik Wings of Africa)

  15. I’m not good at Marketing (Yet you are king of forwarding religious chains)

  16. No, it’s Network. I can’t do it. (But you spread gossip but can’t spread a business that will better your life?) Continue reading * THE POWER OF EXCUSES*

11 Reasons To Be Transparent On Tax

By Eelco van der Enden , Partner, PwC Netherlands.

The European Commission’s proposal for public country-by-country reporting of tax for large multinationals aims to discourage aggressive tax behavior and to get to grips with public unrest on tax avoidance. With this amendment to the Accounting Directive, it meets the public demand for more transparency on the tax strategies of large business and the fairness and efficiency of the tax system—against the backdrop of LuxLeaks and the Panama Papers. France, the United Kingdom, Greece, the Netherlands, and the European Parliament seem to be in favor of public country-by-country reporting.

The German Finance Minister, Mr. Schäuble, is not in favor. He is supported by Malta, Austria, and some tax advisor and business representatives. They claim that fiscal information is only meant for tax administrations. Tax administrations should fight tax irregularities and share information between them.

Tax transparency would lead to a competitive disadvantage for Europe, increase costs of compliance, and disclose “company secrets.” It would also put pressure on tax administrations to levy more tax. “The public will decide the tax bill in the end,” so we hear. Furthermore, there is fear that, under the pressure of US multinationals, the US administration will respond with countermeasures.

The question is whether these arguments are of sufficient substance to counter the public and political pressure for more transparency. Here are 11 reasons to counter the arguments against tax transparency.

  1. For some industries, like extractive and banking, mandatory transparency regulations already exist. This has not resulted in market distortions—confirmed by companies subject to these transparency regulations. Why should these industries be transparent on tax and others not?
  2. Many companies are already voluntarily tax transparent or intend to become so in the near future.

  3. Non-transparency to avoid financial or reputational risks is foolhardy from a professional risk management perspective. It is gambling in the “tax-detection-risk lottery,” and it is not a sign of good corporate governance.

  4. The argument that ”company secrets” would be disclosed appears to be founded on the thought that, currently, data is safe within the company. Much (big) data is already publicly available.

Furthermore, the information to be disclosed will not consist of secret formulas, but merely basic information on the difference between financial and tax accounting.

  1. Tax administrations already have more information than will need to be published.

Dysfunctional tax administrations are not prevented by non-transparency in tax. In fact, tax transparency offers an opportunity to confront the public and politicians with the bad behavior of tax administrations.

  1. The argument that tax is too complicated to explain is not relevant. Try harder or implement less “unexplainable” structures.
  • If transparency prevents tax optimization, and this is seen as a competitive disadvantage, then the question is, “how does this relate to a company’s (tax) governance and corporate social responsibility?”

  • A company needs a functional tax control framework in order to be sure it can file timely, validated, and correct returns. Tax transparency in itself will not lead to serious additional administrative costs. The European Commission has looked into this.

  • Countries are developing initiatives for more tax transparency on a state-by-state basis. Coordination and streamlining of international reporting standards via the European Union and the Organisation for Economic Co-operation and Development is needed to avoid a myriad of transparency regulations.

  • After LuxLeaks and the Panama Papers, NGOs and journalists will keep publishing such information in a format over which taxpayers have no control. Voluntary transparency can result in more public and political understanding of the tax strategy of (transparent) companies.

  • The United States itself has introduced regulations to improve transparency in risk management, reporting, exchange of information, and other areas.

  • In this era, in which tax has become a social media topic, multinationals are advised to develop a communication strategy on tax. The days when tax was the private playground of tax lawyers are over, whether mandatory tax transparency regulations are issued or not. To come to a consistent approach, the Commission’s proposal, therefore, deserves serious attention.

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    Bible Emergency numbers: Build your life with the world of God

    I really luv dis:)
    👇👇👇👇👇
    Bible Emergency numbers:

    ☎📞When in sorrow, call John 14
    ☎📞When men fail you, call Psalm 27
    ☎📞When you have sinned, call Psalm 51
    ☎📞When you worry, call Matthew 6:19-34
    ☎📞In danger, Psalm 91
    ☎📞When God seems far away, call Psalm 139
    ☎📞When your faith needs stirring, call Hebrews 11
    ☎📞When you are lonely and fearful, call Psalm 23
    ☎📞When you grow bitter and critical, call 1 Cor 13
    ☎📞You feel down and out, call Romans 8:31-39
    ☎📞You want peace and rest, Matthew 11:25-30
    ☎📞When the world seems bigger than God, call Psalm 90
    ☎📞When you want Christian assurance, call Romans 8:1-30
    ☎📞When you leave home for labor or travel, call Psalm 121
    ☎📞When your prayers grow narrow or selfish, call Psalm 67 Continue reading Bible Emergency numbers: Build your life with the world of God

    BEWARE WHEN YOU NOTICE ALL THESE IN YOUR LIFE

    1. Beware! When prayer becomes a difficult thing for
      you.
    2. Beware! When fasting is becoming a history in
      your spiritual timetable.
    3. Beware! When you no longer enjoy reading the
      word of God.
    4. Beware! When attending church programme is
      becoming a burden rather than a blessing for you.
    5. Beware! When living a life of holiness is
      appearing like extremism.
    6. Beware! When sinful living becomes a lifestyle in
      the name of grace.
    7. Beware! When you crave for earthly things rather
      than the things of God.
    8. Beware! When waking up in the night to pray is
      becoming a thing of the past.
    9. Beware! brethren, when your heart no longer
      desires to see the Lord Jesus one day.
    10. Beware! when you eat more than pray.
    11. Beware! when you no longer share the word
      with others.
    12. Beware! When u start diluting the preaching
      Word of God to keep people around you.
    13. Beware! of all these, brethren, Satan isn’t
      resting. We too must be vigilant.
    14. Beware! When you spend more time on
      Facebook, WhatsApp, twitter, and internet. These
      things become idols and take the place of God.
      Perhaps you’re not even interested in the contents
      Lets prepare, Jesus is coming soon to take those
      who are eagerly waiting for him.
      PLEASE DON’T LET SHARING THIS BECOME A BURDEN LET US ALL BE CONSCIOUS OF THE LAST DAYS.

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    HOME MADE SEX VIDEO

    I counselled a young guy who was addicted to masturbation. He told me he can’t do without masturbating. One thing that struck me in his confession was when he said, ‘my mum caused all this for me’.

    Curiosity got hold of me & I asked him, how? He said; he started masturbating since when he was 4 years old. ‘ my mum dresses up before me, I am used to seeing her nakedness. I am not moved to have sex with her but I always long to see mature ladies naked just the way I always see my mum dressing up naked before me. I still remember seeing her nakedness regularly till I was 8years& my dad do shout on her, ‘send this boy out before you dress…’ , but my mum would always reply by saying, ‘will my son sleep with me?

    Stop planting evil thought in his heart’. Anytime I see my mum’s naked body, I long to see ladies’ naked body, I went into sex at age 10 and till now I am not free from sex& heavy pornography & masturbation…’
    Dear parents, I hope you are not guilty of this? You are dressing up before your 2 years son/daughter& you say he/she doesn’t know anything yet? . Some couples will be having sex while their close to 2 years old child will be in their room with them & they will feel, he can only see, he can’t understand. Sir/ma, that your child does not need to understand. Continue reading HOME MADE SEX VIDEO

    President Buhari: Reasons Hard Times Await Nigeria

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    Muhammadu Buhari, President of the Federal Republic of Nigeria

    Nigeria, though rated the largest economy in Africa is contending with hard times.
    Following the fall in global oil prices and the weakening currency which has been under devaluation pressure in recent times, economic experts foresee hard times for Nigerians and the possibility of devaluating the Naira.

    Agence France-Presse (AFP) reports that dollar reserves stands at $28bn; $20bn less than in April 2013.

    This development portends a looming downfall for Nigeria that is import-dependent for almost everything; from milk and machinery to petroleum products.

    International Monetary Fund (IMF) projected Nigeria to have grown by 3.0% in 2015, its slowest pace in over a decade.

    Nigeria, unlike Norway that invested hundreds of billions of dollars of its oil money into stocks, bonds and real estate, depends majorly on revenue from oil.

    By the reality in the global oil market, the country is exposed to economy down turn as crude oil prices have slumped more than two-thirds since $100 per barrel in mid-2014.
    AFP also noted that Nigeria is now in limbo, badly needing foreign investment but unable to get any. Continue reading President Buhari: Reasons Hard Times Await Nigeria

    We Don’t need Oil To Develop — Nigeria VP Yemi Osinbajo

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    The drop in oil prices not withstanding, Nigeria has everything it needs to build and sustain a vibrant economy, Vice President Yemi Osinbajo has said.

    “This country has practically what it takes to run a solid economy that is not dependent on oil, but on business and commerce,” the Vice President said Monday during a meeting with a group of international investors looking to invest in the country in the light of the new administration.

    According to Mr. Osinbajo, the President already directed that a conducive environment be created for business investments in the country, adding that work had already started with government looking at the different aspects involved.

    The Vice President, alongside the Minister for Industry, Trade and Investment, Okey Enelamah, had held a meeting earlier Monday with the World Bank Ease of Doing Business Ranking Team, where issues were laid out and specific lines of action identified on how to improve the business climate in the country.

    At the the interactive session with visiting global investors, drawn from companies such as Renaissance Capital, Russia-China Investment Fund, China Africa Development Fund, Invest Abu Dhabi, Actis, Emerging Capital Partners, ECP, KKR & Co. LP, Old Mutual of South Africa, among others, Vice President Osinbajo explained that working with state governments and the Buhari presidency would ensure that issues such as pre-investment approvals, and acquisition of land titles would be reformed to ease investment in the country. Continue reading We Don’t need Oil To Develop — Nigeria VP Yemi Osinbajo