Less than half (45 per cent) of privately held businesses have specialist staff in place to detect and prevent fraud, according to the International Business Report, produced by Grant Thornton International. Regionally, the NAFTA (North American Free Trade Agreement) countries have the most PHBs reporting specialist staff (58 per cent) while at 26 per cent, East Asia has the lowest percentage.
Ken Sharp, Grant Thornton International global leader for assurance services says: "Globally, fraud costs businesses billions of dollars each year. It is important for privately held businesses to take steps to protect themselves against fraud. Whether specialists are employed or not, processes should be in place to ensure that potentially fraudulent activity is caught in the early stages. As the global economy weakens, and jobs are under threat, the temptation to commit fraud could increase. Businesses should be extra vigilant in these difficult times to ensure that their business is protected."
See full Article.
Posts
