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Jun 2017

Keeping business clean: a CGMA guide to countering fraud and corruption

This briefing report outlines recent developments and trends on fraud and corruption globally and the role of the management accountant in helping establish best practice in their organisation. It offers guidance to a range of resources and reading materials.

Fraud and corrupt practices are increasingly affecting organisations globally. These can have a lasting impact on internal and public trust, reputation and financial performance. It is estimated that each year the typical organisation can lose on average 5% of its annual revenue to fraudulent behaviour. 

After reading this, professional accountants will have an overview of:

  • Questions to ask when designing an anti-fraud strategy and how to manage fraud risk
  • Eight practical ways to address fraudulent activities
  • Practice tips for fighting against cyber schemes.

This briefing highlights some of the recent global developments and trends to useful resources and insights from across the Association of International Certified Professional Accountants (AICPA, CGMA and CIMA) and other leading providers of anti-corruption and fraud materials

This accompanying briefing co-produced with Transparency International (TI) features the 2016 TI Corruption Perceptions Index and legislation in selected markets.

Estimates show that the cost of corruption equals more than 5% of global GDP ($2.6 trillion), with over $1 trillion paid in bribes each year.

CGMA Resources

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