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August 25, 2011 10:25:30 am

Study on Fraud Cases Reveals New Trends

KPMG announced a follow-up of their 2007 fraud case analysis to uncover new trends and behaviors of those who commit fraud.  Some of the trends the report reveals include:

• The senior finance executive is typically the person who will commit fraud in an organization
• CEOs are becoming more likely to commit fraud, as the fastest growing group in the study
• Fraud as the result of weak internal controls has risen over the last four years
• Fraud detection increased to 3.4 years from inception to detection, up from 2.9 years in 2007, and
• 96% of the people who commit fraud do so multiple times

For a more detailed analysis on the KPMG study, please see CFO.com. 

REDW’s Risk Assessment and Internal Auditing Services can help prepare your company’s fraud prevention procedures.  Contact Steve Cogan for more information. 
 

Tags: Risk Assessment, Internal Auditing

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