Financial Fraud: Does an Economic Downturn Mean an Uptick?Deloitte Financial Advisory Services LLP |
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As economic conditions soften around the globe, fraud risks for businesses appear to be on the rise. A slowing economy may increase pressure on companies to meet — and often exceed — short-term performance goals (sometimes at the detriment to the organization in the long-term) or to demonstrate that shareholder value has improved due to management’s leadership. In some instances, organizations may expect results that can be achieved only in a thriving economy. It is this mindset in slower economic times that can contribute to increased fraudulent activity.
In the attached point of view, we discuss the potential impact an economic downturn or other adverse financial circumstances may have on fraudulent activity — and how to help prevent potential problems within your organization. Specifically, we address:
- Three common factors driving fraudulent activity
- Common types of financial statement fraud
- Leading practices for controlling fraud risks
- Conducting investigations in economic downturns
Learn more by reading the complete point of view, attached below.
Related Content
Article: "Experts Say Fraud Likely to Rise" - BusinessWeek (Jan. 9, 2009)
Press Release: Deloitte Poll – Nearly Two-Thirds of Executives Anticipate Uptick in Accounting Fraud, Resulting from a Down Market
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Financial Fraud in a Downturn
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