ACFE STRESSES VALUE OF HOTLINES OVER EXTERNAL AUDITS IN FRAUD DETECTION
May 10th, 2014
WHISTLEBLOWING hotlines are a far more effective way of protecting a company against fraud than comprehensive external audits, an Association of Certified Fraud Examiners (ACFE) study has demonstrated. Its 2014 Report to the Nations on Occupational Fraud and Abuse examined 1,483 cases of occupational fraud in 102 countries worldwide.It concluded that passive detection methods, such as confessions, relying on the police, external audits and accidental discovery of fraud, usually leave frauds uncovered for longer periods of time than proactive detection measures ...
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