Survey finds rising accounting fraud at smaller companies

02/15/2013 | Australian Financial Review

Accounting mistakes might be letting an increasing amount of employee fraud go undetected at small and midsize Australian and New Zealand companies. As smaller companies shrink finance teams, reducing internal reviews and pressuring auditors to hit tight deadlines, the quality of reporting is declining. A KPMG survey found that fraud of more than $1 million by individuals in Australia and New Zealand increased 82% between 2010 and 2012.

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Australian Financial Review