Just one in ten FDs polled by CA magazine, said they believed police had enough resources to combat fraud, while 45% said current levels were insufficient.
The poll also revealed that two-thirds of FDs do not have an agreed fraud prevention policy in their company.
Tom McMorrow, director of legal services at ICAS said: ‘Financial crime draws oxygen from the economy and impairs its breathing. The longer we address it apathetically, the greater the impairment.’
News of this lack of confidence, comes as the Scottish accountants’ journal calls for the establishment of a national fraud squad for Scotland, to help out the Serious Fraud Office and attached police force, as well the implementation of fraud awareness training
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