Fraud risk in emerging markets

By | June 20, 2006

Fraud takes many forms, and, as we shall see later, perceptions of the most prevalent type of fraud vary in developed and emerging markets. For the purposes of this survey, we have organized the many possible fraud schemes into four general categories: internal fraud in collusion with third parties; corruption and bribery; financial statement fraud; and misappropriation of assets.

We asked company leaders to consider a set of factors important in fraud prevention, and to identify those most likely to detect fraud. Respondents in both developed and emerging market countries consistently identified

internal controls as the key factor to preventing and detecting fraud. The survey findings indicate a response to regulatory requirements globally, and a continued focus on internal controls.Read Full Story

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