© D.L. Crumbley
Fraudulent disbursements account for three-quarters of the losses, and the most expensive tend to be fraudulent disbursements through billing schemes (45%).
Therefore, internal auditors seeking to get the biggest bang for their investigative bucks should begin by making sure company vendors are for real.
Check tampering (30%).
Source: J.T. Wells, “An Unholy Trinity,” Internal Auditor, April 1998, p. 33.