The price of fraud
Fraud does more than dilute the bottom line: it betrays shareholder trust, erodes employee morale and mars public perception of your brand. Without mechanisms in place to counter financial wrongdoing by insiders, the fallout can give stakeholders serious, perhaps relationship-ending misgivings and jeopardize your business. But prosecuting isolated acts of malfeasance falls short of the mark. A superior strategy scrutinizes areas susceptible to exploitation from the ground up, identifies their inherent vulnerabilities and eliminates opportunities to exploit them.
An ounce of prevention
All too often, fraud is discovered too late. In some cases, its damage is irreversible. Managers should never take the entity's security for granted. Compliance with regulatory requirements is not enough, and internal controls, susceptible to collusion within the organization, can be circumvented, creating further vulnerabilities. PwC's Forensic Service professionals help neutralize such threats to keep fraud in check.
