Employees 'support' anti-fraud codes of conduct

News Article - 31 May 2007
Category:

Employers are failing to provide their workers with clarity about anti-fraud measures within companies, a new survey revealed.

In the poll by Ernst & Young, employees showed support for corporate codes of conduct to address corruption, bribery and fraud.

But while 88 per cent of the 1,300 respondents are in favour of such codes, only two-thirds of those in western Europe said their firms had one.

David Stulb, the global leader of Ernst & Young's fraud investigation and dispute services, said staff "positively support" anti-fraud programmes.

"However, they are crying out for their employers to provide clarity and encouragement for them to act positively in the interests of the company," he commented.

According to Mr Stulb, workers require "strong codes of conduct" and the opportunity to make high ethical demands on their employers.

"Regrettably some employers are failing to persuade staff they feel the same," he concluded.

Ernst & Young estimates that firms lose between five and six per cent in revenue as a result of fraud.

Upon the launch of the professional services firm's fraud and investigation services division last year, its employee Christian Mouillon said: "Fraud is a growing concern for companies around the world because it is one of the only business risks that is deliberately disguised."

Article keywords:

---

More industry news

• Think tank warns UK may have already slipped back into recession
• Growing demand for HR staff in technology and international sectors
• Boosting business growth a ‘priority’ to avoid Eurozone slowdown
• HMRC launches alternative disputes pilot scheme this week
• December employment statistics disregard gloomy recruitment predictions
• Eurozone manufacturing PMI shows modest improvement
• UK scores highly for economic governance by ratings agency
• Government launches two-year project focusing on manufacturing sector
• Burden of regulation on UK businesses ‘too high’

Back to news home page »