Helping Companies Evaluate Anti-Fraud Investments
"Companies should do more to deter and detect fraud. Costs go far beyond the simple dollars someone steals or gains through materially misstated financial statements. Loss to employees and stockholders can be substantial.”
- Internal Auditor Response
One of the goals of this report is to help organizations begin to evaluate the investment in fraud prevention, fraud detection, and fraud deterrence to determine if there are more effective ways to manage fraud risk.
ABOUT THE STUDY
Vonya Global surveyed Executives and Internal Auditors from private, public, and not-for-profit organizations, spanning many industries to gather opinions on Fraud Risk Management.
Historically, there have been several studies conducted about fraud and fraud statistics, but none that deal directly with the strategic plans to manage fraud risks. The timing of this study is appropriate due to the heightened sensitivity to fraud due to the economic conditions. It seems more groups, including regulatory bodies, investors, clients, and suppliers are increasingly concerned about the ability to demonstrate effective fraud prevention, fraud detection, and fraud deterrence strategies.