‘These studies underscore the need for corporations to be aware of fraud risks not only externally, but internally as well,’ said Peter Lowe, assistant director of the chamber’s commercial crime services department.
‘Clearly, the financial losses are a large concern. However, internal fraud also points to the competency of a company’s accounting controls, and the general state of a company’s culture.
‘Companies should not only be thinking of penalising perpetrators, but should also be adopting preventative approaches through increased awareness and employee education.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements