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Fraud in a Downturn: A review of how fraud and other integrity risks will affect business in 2009
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As Warren Buffett so memorably put it: “you only find out who is swimming naked when the tide goes out”. Many of the frauds that emerge in 2009 will have begun some years earlier with the economic downturn acting as the catalyst in the detection of the wrongdoing.
The Fraud in a Downturn whitepaper considers whether fraud and integrity threats are changing during this period of economic decline and, if so, how. Looking forward, we consider the issues that boards of directors and audit committees need to be aware of in 2009: the frauds that may emerge and the likely regulatory response. Finally, we describe the strategies enlightened organisations are implementing to manage short term risks and to enhance stakeholder value in the longer term.
For more information on fraud, corruption and other integrity risks please join the PwC Fraud Academy via the webtile on the right.
© 2010 PricewaterhouseCoopers. All rights reserved. "PricewaterhouseCoopers" and "PwC" refer to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL). Each member firm is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way. No member firm is responsible or liable for the acts or omissions of any other member firm nor can it control the exercise of another member firm's professional judgment or bind another member firm or PwCIL in any way.
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