Download Issue 72 (529 KB) |
Economic crime is simply impossible to eliminate. For businesses in Malaysia, fraud remains one of the most problematic issues in economic crime - 48% of Malaysian companies have been subject to economic crime during the past two years. This has doubled compared to 2005, reveals the PricewaterhouseCoopers Global Economic Crime Survey 2007. It is a startling result for Malaysia, given the increased investment that companies have made in fraud controls and efforts made by regulators. Clearly, fraud prevention is not merely a question of the right control functions; companies need to give employees the confidence to do the right thing and establish a corporate culture that supports fraud control and prevention systems. Fraud is at root, a people issue.
In Issue 72:
- Fraud: Perception vs Reality
- The cost of fraud – more than monetary loss.
- Not ‘business as usual'
- Fraud by senior management harder to detect
- Controls alone are not enough, culture makes the difference
- Strengthen your response to fraud
- Temperature check
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PwC Alert is a digest of topical financial and business information for clients and business associates of PwC Malaysia. Whilst every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PwC Associates Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
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