Unveiling fraud reporting trends in listed companies

Forensic Diaries: A Forensic & Integrity Services Blog

Global and Indian organizations have been under intense regulatory scrutiny on account of potential lapses in compliance or corporate governance, and an influx of fraud, bribery and corruption cases. Enforcement action has stepped with regulators such the US Department of Justice (DOJ) and Securities and Exchange Commission (SEC), UK’s Serious Fraud Office and Financial Services Authority, European Anti-Fraud Office and the Securities and Exchange Board of India (SEBI) taking the lead through prosecutions and fines. EY’s 15th Global Fraud Survey found that despite regulators and law enforcement agencies around the world imposing more than US$11b of financial penalties since 2012, 38% of global executives still believe bribery and corrupt practices remain prevalent in business.

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