ACC 655 Nations Quiz

What percentage of whistleblowers reported to their direct supervisor when a hotline was not used?

29%

What are the top three parties to whom whistleblowers report potential fraud?

1. Direct supervisor (29%), 2. Executive (16%), 3. Internal audit (14%)

What is the median loss amount associated with fraud detected by tips?

$155,000

Which detection method has the highest mean loss amount associated with fraud?

Notification by law enforcement ($6,109,000)

What percentage of victim organizations had a code of conduct in place at the time of fraud occurrence?

85%

What is a key reason small organizations are particularly vulnerable to fraud?

Limited resources to invest in anti-fraud programs and fewer checks and balances.

What is the median loss for frauds committed by employees?

$184,000

How does the length of tenure of a fraudster affect the median loss caused by their fraud?

The longer a fraudster has worked for an organization, the more costly their fraud.

What is the median loss for fraudsters with a university degree or higher?

$200,000

What percentage of fraudsters were 31-50 years old?

69%

What is the median loss caused by fraudsters who acted alone?

$75,000

What percentage of perpetrators had never been punished or terminated for fraud prior to their current offense?

85%

What is the most common internal action taken against fraud perpetrators by victim organizations?

Termination (67%)

What percentage of fraud cases resulted in no punishment for the perpetrator?

5%

What is the median loss for frauds perpetrated by owners or executives?

$500,000

What is the implementation rate of hotlines at small organizations compared to larger companies?

Much lower at small organizations.

What is the median loss for frauds detected by internal audits?

$100,000

What are the top two reporting mechanisms used by whistleblowers?

Online forms and emails.

What percentage of victim organizations had fraud training for employees?

62%

What is the median loss for frauds perpetrated by individuals over the age of 50?

$136,000

What is the median loss for frauds detected by external audits?

$227,000

What percentage of fraudsters colluded with others?

Fraudsters who colluded caused median losses more than 3 times higher than those who acted alone.

What is the median loss for frauds detected by document examination?

$133,000

What percentage of victim organizations had an independent audit committee?

68%

What is the median loss for frauds perpetrated by managers?

$60,000

What is the median loss for frauds detected by automated transaction/data monitoring?

$83,000

What is the median loss for frauds perpetrated by individuals with less than one year of tenure?

$50,000