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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 47 / 352

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© 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.

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