As one of the world’s most commonly reported economic crimes, ranking above cybercrime and business misconduct, procurement fraud can emerge in any organization that fails to acknowledge and address it.
Procurement fraud lowers revenues, ruins reputations and distracts from the crucial work of businesses. What’s worse is that it usually hides in plain sight.
To answer these and other questions, SAS recently surveyed more than 2,000 global business leaders from finance, procurement, internal audit, compliance and ethics departments across 38 countries for their opinions and experiences with procurement fraud and to understand the magnitude of the problem. The report also looks at the various ways organizations try to recognize and tackle the problem.
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