[ISG:94068] 70% say India Inc to be a fraud haven in next 2 yrs
วันอังคารที่ 18 มีนาคม พ.ศ. 2551
Theft of intellectual property and IT-related fraud is expected to increase in the coming years, with more than 70% of Indian corporates also believing that fraud in India will increase over the next two years.
India is perceived as a 'fraud haven' with over 75% of the respondents to a KPMG survey considering fraud remaining undetected as their highest concern followed by inadequacy of measures against the offence and unethical behaviour of employees.
The findings of the report suggest that the threat of fraud comes mostly from within the organisation. Majority of the respondents believe that the employees pose the maximum threat to an organisation and that senior management is more likely to commit fraud.
The inherent responsibilities and trust associated with senior positions, ability to override internal controls, internal knowledge and access to confidential company information that come with the managerial position create the risk that fraudulent acts may occur.
Next to employees, the maximum threat is perceived from suppliers and service providers. The report noted that supplier kickback is the most prevalent form of fraud to hit an organisation and that organisations lack effective internal control mechanisms to manage risks.
Organisations in India that remain passive in their approach to deal with fraud may be a perfect breeding ground for fraud, suggests the findings of the latest KPMG report on fraud. Deepankar Sanwalka at KPMG said, "With the increase in the number of business transactions combined with the lack of effective monitoring, frauds are a real time threat for most corporates in India. It comes as a surprise that even the larger companies operating in India do not have adequate risk management strategies''.
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