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Ernst and Young report on fraud shows that most organizations operate in uncertain economic environs

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A new report by tax and auditing firm Ernst & young on fraud shows a rise in cases of fraud over the last one year signalling weak systems in organisations. The report notes that today’s businesses are operating in an uncertain economic environment, with 1 in 3 board directors and senior managers saying they could justify offering cash payments to win or retain business. 1 in 4 of generation y or 25-34 year old respondents said they could justify offering cash payments to win or retain business. According to the report this shows how popular discontent with globalization, political instability and slower growth in emerging markets is placing pressure on companies as they seek alternative ways to meet ambitious revenue targets. Increased global connectivity means that a company’s assets are at greater risk from theft, damage or manipulation by insiders than ever before. SUBSCRIBE to our YouTube channel for more great videos: https://www.youtube.com/KTNkenya Follow us on Twitter: https://twitter.com/KTNNews Like us on Facebook: https://www.facebook.com/KTNNewsKenya For more great content go to http://www.standardmedia.co.ke/ktnnews and download our apps:http://std.co.ke/apps/#android KTN News is a leading 24-hour TV channel in Eastern Africa with its headquarters located along Mombasa Road, at Standard Group Centre. This is the most authoritative news channel in Kenya and beyond.

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