corporations-still-blasT-about-ethics-says-ey-survey

Corporations still blasT about ethics, says E&Y survey

Ernst & Young reports that many CEOs are lackadaisical about stamping out the evils of corruption.
Ernst YoungÆs survey of fraud risk in emerging markets reveals that corporations are still slow to systematise their combating of bribery and corruption. 42% of companies of the 500 corporate leaders surveyed had no anti-fraud policy in place.

27% of respondents in organisations with links outside their home market do not even consider anti-fraud measures when they enter a new market.

They find that the most popular types of fraud scams being worked in emerging markets are corruption and bribery, misappropriation of assets and internal fraud in collusion with third parties. Manipulation of financial statements, a la Enron, ranks just behind.

Not that the corporations seem very fazed about it. Nearly nine out of 10...
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