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EY: 20% of senior executives in Singapore think corruption is widespread in their country

FY Teng | June 17, 2014
In contrast, the consulting house's latest worldwide survey shows that globally almost 40% believe that to be true in their own countries.

Commenting on these findings, David Stulb, Global Leader of EY's Fraud Investigation & Dispute Services, argued for a way to make sure that the Board of each company had a complete and accurate view of its financial details. "Given the risk of management overriding financial controls, the implications for boards from these findings about C-suite integrity are serious," said Stulb. "Enhancing board connectivity with business and finance leaders in the company-but below the C-suite-would be useful to confirm that the Board is getting the full and accurate picture. With regulators committing additional resources to prosecuting financial statement fraud, and cooperating frequently with prosecutors from other jurisdictions, the stakes have never been higher."

 

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