July 8, 2006: Ernst & Young Global Fraud Survey

Fraud Risk in Emerging Markets
www.ey.com/global/content.nsf/International/FIDS_-_9th_Global_Fraud_Survey

[...] The 9th Global Fraud Survey (pdf, 340kb) [Get this on Ernst & Young's website] is the result of interviewing and listening to over 500 corporate leaders, including Chief Executive Officers, Chief Financial Officers, Chief Risk Officers, Internal Audit Directors, and business unit directors. They represent many of the world’s major organizations.

Some key findings: [...]

* Developed country respondents are more likely to have suffered significant fraud at home or in subsidiaries in developed countries, and yet management admits greater unease about fraud exposure in emerging markets.

* Companies operating in emerging markets may be underestimating the risk of financial statement fraud. [...]

Better read this if you think you want to go global ... or if you already have.