As reports of global fraud continue to rise, members of corporate boards are becoming increasingly concerned about personal liability that could result from both large- and small-scale financial fraud as well as bribery, corruption and other fraudulent activities.
According to the 11th Global Fraud Survey issued in May by Accountancy Magazine and the accounting firm Ernst & Young, fraud also continues to be a concern of smaller, privately held companies and their advisers, who are often relied upon to provide advice relative to questionable transactions and suspicious activity.
