Fraud and corrupt practices are increasingly affecting organisations globally. These can have a lasting impact on internal and public trust, reputation and financial performance. It is estimated that each year the typical organisation can lose on average 5% of its annual revenue to fraudulent behaviour.
After reading this, professional accountants will have an overview of:
- Questions to ask when designing an anti-fraud strategy and how to manage fraud risk
- Eight practical ways to address fraudulent activities
- Practice tips for fighting against cyber schemes.
Estimates show that the cost of corruption equals more than 5% of global GDP ($2.6 trillion), with over $1 trillion paid in bribes each year.