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.
An economic crime, procurement fraud can emerge in any organization that fails to acknowledge and address it.
Ranking above cybercrime and business misconduct, procurement fraud can:
- How do organizations monitor procurement processes for fraud?
- What are the most common fraud types?
- How much money is lost due to procurement fraud or processing errors?
- Who is responsible for dealing with possible fraud in procurement?
- Why are organizations failing to spot procurement fraud?
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.
Click here to download the SAS eBook and understand challenges, opportunities to combat procurement fraud.