The magazine for Canadian Chartered Accountants (yes, it is that exciting!) has just published an article on fraud in the Canadian corporate sector, drawing on research by KPMG. Just to be clear, not everyone north of the border is engaged in defrauding penny stock mining companies!
KPMG's survey has the following introduction:
"Bad habits and personal need, along with opportunity and greed, can ignite the motivation to commit fraud in even the most hearty of economic environments. Now, as companies and individuals find themselves strapped for cash and credit in these challenged economic times, investors should be increasingly aware that fraudsters can come in all shapes and sizes. In the 2009 survey Profile of a Canadian Fraudster, KPMG Forensic exposed the common characteristics of fraud perpetrators. On the surface, the typical fraudster may appear to be not all that different from an average person or your next door neighbour."
An interesting read.
Hedge Fund Operational Due Diligence
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