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Follow on Google News | Fraud Risk Management Report Released: Fraud Risk Has Been Rising And It's Likely to ContinueVonya Global, a leading global provider of internal audit consulting services, has released the final report on the effectiveness of corporate fraud risk management.
By: Vonya Global LLC Some of the results include: - Fraud risk will continue to rise over the next 24 months - Highest fraud risk lies with suppliers - Executives say highest fraud risk is in Asset Misappropriation (false billing schemes) - Internal Auditors say highest fraud risk is in Asset Misappropriation (Expense Reports) - Employee tip is the #1 way fraud is uncovered - Code of Ethics is #1 Fraud Prevention strategy It is well known that the risk of fraud is present in almost every business regardless of size, shape, and complexity. The risk could materialize itself in an employee, a vendor, a client, or in the boardroom. It could be “detrimental” The study compiled opinions of Executives and Internal Auditors from private, public, and not-for-profit organizations, spanning many industries on strategic planning for fraud prevention, detection, and deterrence. One of the goals of the study was to provide information that would allow companies to evaluate the investment in fraud risk management. This is the second study Vonya Global has conducted on this topic; the first was released in 2009. The study compiles opinions about risk management strategies employed to combat fraud. To download a copy of the report please visit Vonya Global’s home page: http://www.vonyaglobal.com. # # # Vonya Global is a consulting firm specialized in providing internal audit, internal control, and risk assurance services. Having locations throughout the world, Vonya Global serves as a value added alternative to the large accounting firms. End
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