When the economy takes a downturn, fraud increases, according to an online poll conducted by Deloitte Financial Advisory Services (FAS).
When the economy takes a downturn, fraud increases, according to an online poll conducted by Deloitte Financial Advisory Services (FAS).
Nearly two-thirds (63.3 percent) of executives polled during a recent webcast expect accounting fraud to increase during the next two years.
“While fraud is committed during strong economic conditions, it is clearly exacerbated in declining markets,” said Kerry L. Francis, U.S. chairman of the board for Deloitte FAS. “Smaller paychecks, reductions in employee headcount and internal controls, as well as diminished morale, are just a few factors that can open the door to fraud in a down market.”
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