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Thread: Inflating Figures

  1. #1
    Regular Member
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    Jun 2017
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    Kenya
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    Default Inflating Figures

    It has been a norm especially in government offices where money gets embezzled during the procurement processes. At one time, a scheme was unearthed where the figures had been inflated at an alarming rate. The cost of one pen was $40. Does this problem occur in your country or company?

  2. #2
    Member Plus
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    Mar 2016
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    UK
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    Default Re: Inflating Figures

    It certainly occurs in my country. It had better not occur in my company: that's what the double audit, finance department and cost tracking software are for! If it did, someone would be fired. It is somewhat disturbing that companies seem to have better auditing than the civil service at times.

  3. #3
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    Cluj-Napoca, Romania
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    Default Re: Inflating Figures

    Happening in Romania since the fall of communism. You'd be amazed to hear how much paper "costs" here.

  4. #4
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    Nigeria
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    Default Re: Inflating Figures

    This is the case of a bad government which everyone is complaining about and it seems it is prevalent in most African countries where government officials try as much as they can to inflate prices of raw materials used in executing some contracts so as to have abnormal profits at the end of each project completion. The worse case scenario is that even at the inflated prices of items in these contracts, some of those contracts end up not being completed which makes a bad development for the progress of the nation.

    If there would be transparency in awarding contracts to the qualified firms/individuals as well as ensuring that the cost of executing those contracts are not on a high, then I think that we are on our way to having a better development in many countries of the world.

  5. #5
    Diamond Member
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    USA
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    Default Re: Inflating Figures

    Transparency is a must, unless you happen to have the most moral and ethical and kind-hearted leaders ever imagined, and we all know that power corrupts too easily for that to ever happen. Inflated figures can have those drastic effects that trickle thoughout all sorts of other industries too, so it is extra dangerous.

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