Keeping Corporate Fraud in the Cross-Hairs
By KPMG Advisory practice partner Timothy Hedley and KPMG Advisory retired partner Leslie Hand | Oct. 29, 2009
From the Audit Committee Institute
Financial institutions have collapsed, many companies find themselves struggling to stay afloat, investors are pressing for stable returns and governments have stepped in to shore it all up. Without doubt, global economic conditions have put the corporate world under some of the most intense pressure in memory. Conditions become ripe for misconduct and fraud as this pressure meets opportunity.
KPMG's 2008 Integrity Survey highlights these conditions when it found that 74 percent of U.S. workers surveyed witnessed misconduct on the job in the past year, and most blamed such activity on a corporate culture that promotes "do-whatever-it-takes" operating conditions.
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