Canada is one of the top jurisdictions for instances of reported corporate fraud in the world. The two most common types of economic crimes in the last year were asset misappropriation and accounting fraud (such as accounting manipulations). It is expected that there will be intense scrutiny of internal auditors, management, audit committees and directors by investors, regulators and law enforcement to see how they confront and minimize fraud risk and loss. Published in the January/February 2010 issue of
Audit Challenge, the electronic newsletter for the Institute of Internal Auditors, Toronto Chapter.
Bennett Jones