Incidences of accounting fraud worldwide registered adouble-digit increase compared to two years ago but the wave ofcorporate crime expected by executives in the wake of the financialcrisis did not materialize in other areas, a survey fromPricewaterhouseCoopers reveals.

About 30% of the more than 3,000 polled executives in 54countries reported experiencing an economic crime in the previousyear, and of those, 38% reported an accounting fraud incident, upfrom 27% in 2007 and 24% in 2005. However, reports of assetmisappropriations declined slightly to 67%, from 70% in 2007, andinstances of bribery and corruption dropped to 27% from 30% in2007.

Steve Skalak, global investigations leader at PwC, notes thataccounting fraud and bribery and corruption cases typically involvelarger dollar amounts than asset misappropriation, which hedescribes as an “intractable” problem.

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Susan Kelly

Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.