Research show corporations are often ill-prepared to investigate fraud or misconduct quickly
Corporations are often ill-prepared to investigate fraud or misconduct quickly if it occurs in a country other than where they are headquartered, according to new research by KPMG International.
Although 92% of respondents said they expect the number of international investigations to increase or at least remain the same in the coming year, 56% said they have not implemented comprehensive investigation procedures. By contrast, 60% of executives acknowledged that planning an investigation remains key to its success.
KPMG says that steps that companies can take to improve international investigations of fraud include:
• Assess and benchmark their organisation’s investigation competence against industry-recognised ‘better practice’ capabilities including in particular the use of forensic technology.
• Assess their investigation protocols and ensure that the board and audit committee are informed of all gaps and issues.
