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Deloitte
Deloitte Poll: Nearly Two-Thirds of Executives Anticipate Uptick in Accounting Fraud, Resulting From Down Market
January 25th, 2009
When the economy takes a downturn, fraud increases, according to a recent online poll, conducted by Deloitte. Nearly two-thirds (63.3 percent) of executives polled expect accounting fraud to increase during the next two years. "While fraud is committed during strong economic conditions, it is clearly exacerbated in declining markets," said Kerry L. Francis, chairman and national leader of Deloitte Financial Advisory Services LLP's Corporate Investigations practice. "Smaller paychecks, reductions in employee headcount and internal controls, as well as diminished morale, are just a few factors that can open the door to fraud in a down market." ...
Source: Pharma Investments, Ventures & Law Weekly (2009-01-25)
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