More than half of organizations don’t have any budget set aside for fraud prevention or risks, according to a new survey by the Association of Certified Fraud Examiners.
The ACFE survey found that 38 percent of the anti-fraud professionals polled around the world said their organization was unable to identify or address the fraud risks they know they have.
In addition, 38 percent of the poll respondents said lack of communication between departments was the biggest risk, and 32% said they lacked proper checks and balances, and 54 percent indicated their organization doesn’t have any dedicated budget for fraud prevention or risks.
Twenty-two percent of the survey respondents said their employer was unwilling to address their fraud risks. Despite all that, 79 percent of the poll respondents said they are confident their organization could respond to fraud. The ACFE has created an infographic showing the survey highlights.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access