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The Cost of Fraud

How much can you afford? $2,000,000 - median loss caused by financial statement fraud $278,000 – the median loss to private companies due to fraud $200,000 – median loss due to fraud in companies with less than 100 employees 29% - percentage of fraud originating in the accounting department 93% - nearly all perpetrators are first time offenders 42% - percentage of frauds detected by tips 30% - percentage of frauds detected by accident 2 years – average time from inception to detection of a typical fraud This article is associated with Richard Kozlow’s review of Martha Maeda’s The Complete Guide to Spotting Accounting Fraud & Cover-Ups. Click here to return to the review. Set as favorite Bookmark Email This Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Write comment Name Email Title Comment smaller | bigger Subscribe via email (Registered users only) I have read and agree to the Terms of Usage. Write the displayed characters Add Comment