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Is corporate India ready to blow the whistle?
The onus is on companies to put in place a vigil mechanism to detect and deter fraud.
When in December last year Grant Thornton, one of the biggest accounting firms in the world, conducted a survey among 250-odd CXOs and business heads in India on perception of fraud risks, it threw up some interesting findings. Sample these:
l Over 40 per cent of the respondents said, incidences of fraud in corporate India have increased in the past two years
l Respondents said, bribery and money laundering (41 per cent), financial reporting fraud (24 per cent), tax evasion (17 per cent), siphoning of asse(...)
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