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Fraud Facts: The importance of internal controls

According to the Association of Certified Fraud Examiners 2016 Report to the Nations on Occupational Fraud and Abuse, a typical organization loses 5 percent of its revenue to fraud each year. The median loss caused by occupational fraud cases surveyed between January 2014 and October 2015 totaled $150,000, with 23.2 percent of cases causing losses ...