TakingStock – No such thing as cheque fraud!

A member of the Institute of Internal Auditors busy at work in eastern Europe was recently privy to an insightful lecture on how to combat fraud in Latvia.

Since the collapse of the Soviet Union, aid agencies have been prolific in the area and one US aid agency thought it would be a good idea to bring in an American finance expert to lecture on cheque fraud. Unfortunately he soon came up against one of those embarrassing question and answer sessions.

After practically a whole day talking about the intricacies of cheque fraud and feeling fairly confident he would be able to answer any question thrown at him, the speaker threw open the session.

A member of the audience promptly stood up, thanked the speaker for his time and a ‘very interesting lecture’, but asked: ‘What is a cheque?’

TS understands from a reliable source that the poor, badly informed American was understandably at a loss for words.

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