Study shows worsening fraud at S'pore companies

[SINGAPORE] The incidence of fraud has grown at Singapore companies in recent years, with internal fraud - often the result of inadequate internal controls - being the most prevalent type.

These were the key findings gleaned from a survey conducted jointly by KPMG and the Singapore Management University in the last quarter of 2013. They surveyed 103 Singapore-listed companies from a range of industries, with about 75 per cent having annual revenues exceeding S$50 million.

Almost a third (29 per cent) of respon…