© D.L. Crumbley
Ernst & Young Study (2000)
Leading companies and public bodies in 15 (82) countries
More than 82% (50%) have been victims of fraud in the past year.
82% (84%) of total losses can be attributed to staff.
33% (50%) of the most serious frauds were committed by the organization’s own management.
Most with company more than 5 years (25% more than 10 years).
Theft of cash and purchasing schemes (i.e., employee kickbacks) constituted the majority of frauds.
Reasons: Poor internal controls and finance directors had a limited knowledge of internal controls.