April 3, 2008
Most Cases of Charity Fraud Could Be Prevented, Study Finds
Most cases of employee fraud at charities stem from a lack of proper internal controls that deter theft, and those cases are further compounded by lax efforts to recover financial losses when the fraud is discovered, according to a new study.
The report — based on an analysis of 2004 data from the Association of Certified Fraud Examiners regarding 58 fraud cases involving nonprofit groups — also found that a significant number of organizations did not pursue
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