Auditors Find it Tough to Unmask Corporate Fraud

Mention corporate fraud and most Malaysians will give a blank stare. An impromptu survey done by StarBizWeek in Kuala Lumpur’s central business district revealed the extent to which people know about corporate fraud. Of the 25 people, 23 did not know or did not want to comment. Experts say that corporate fraud is on the rise but that is difficult to ascertain since most research depends on survey respondents. Perhaps, the technology to detect such activities is better and the regulators have become more adept. But it is for sure that globalisation of economic activities and technology have also played a part in making fraudulent activities harder to detect or prosecute.

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