PracticeAuditFraud cases reach record value

Fraud cases reach record value

Fraud Barometer says fraud cases in 2008 highest since 1995

More fraud cases reached court last year than since 1995, according to KPMG.

The firm’s Fraud Barometer has revealed cases involving more than £1bn in
fraud were heard in UK courts during 2008, the highest figure for 14 years.

The BBC reports KPMG’s Hitesh Patel, speculating that fraud could worsen in
the near future.

‘These figures are bad enough in themselves, but I fear the trend for the
next couple of years will be even worse,’ he said.

The value of mortgage fraud cases is reported to have increase by ten times
over the past year,

Read the BBC story
here

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

1d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

6d Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter