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Fraud Control - PwC

FraudA guide to its prevention,detection and Fraud is a persistent fact of business life, affecting businesses of all sizes and across all industries. Consider the following recent statistics: of Australian businesses suffered some form of Fraud between 2005 and 2007 (PricewaterhouseCoopers Economic Crime Survey 2007) Fraud costs Australian business and government $ billion a year one-third of the total cost of all crime in Australia (Australian Institute of Criminology s 2003 report , Counting the costs of crime in Australia) of Australian respondents suffered losses in excess of $1 million between 2005 and 2007 (PricewaterhouseCoopers Economic Crime Survey 2007).

in an Audit of a Financial Report a framework and strategy requires greater: • transparency in corporate accounting and reporting • accountability, by making board members and executives personally responsible for fi nancial reports. A fraud risk management framework A fraud risk management framework is an essential element in meeting these

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