| Consistent with the global findings, economic crime continues to be a significant challenge for US companies. Yet survey results show that US companies may be over confident that controls implemented pursuant to the Sarbanes-Oxley Act will have a carryover impact that deters and detects non-financial reporting related economic crime. While strengthened controls over financial reporting will have some carryover effect, it is clearly not a complete solution to the mitigation of the broad spectrum of economic crime. US companies continue to underestimate the importance of establishing a culture of transparency, openness and intolerance of compliance failures and improper business practices.
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