Page 723 - ACFE Fraud Reports 2009_2020

FIG. 64 What anti-fraud controls are the most common in FIG. 66 Cases by country in Latin
Latin America and the Caribbean? America and the Caribbean

Control Percent of cases Country Number of cases

External audit of financial statements 88% Argentina 10
Code of conduct 88% Bahamas 5
Internal audit department 81% Barbados 1
Management certification of financial statements 72% Brazil 22
Hotline 72% Chile 2
External audit of internal controls over financial reporting 71% Colombia 10
Independent audit committee 67% Costa Rica 4
Management review 65% Curaçao 1
Fraud training for employees 58% Dominican Republic 1
Anti-fraud policy 56% Ecuador 1
Fraud training for managers/executives 54% Grenada 2
Dedicated fraud department, function, or team 46% Haiti 1
Employee support programs 45% Jamaica 3
How does the perpetrator's level of authority relate to
Formal fraud risk assessments 44% Mexico 23
occupational fraud in Latin America and the Caribbean?
Surprise audits 40% Peru 6
Proactive data monitoring/analysis 26% Saint Vincent and the Grenadines 1
Job rotation/mandatory vacation 16% Suriname 1
Rewards for whistleblowers 9% Trinidad and Tobago 5
Venezuela
Median Loss Latin America and the Caribbean? 2
Total cases: 101
FIG. 65 How does the perpetrator’s level of authority
relate to occupational fraud in Latin America and the
Caribbean?
46%
45
40 MEDIAN LOSS:
46% usd 200,000
PERCENT OF C A SES 35 20%
30%
30
25
20
15
10
OF ALL CASES
5 5%
0 � � � � �
Employee Manager Owner/ 101
executive CASES

$90,000

MEDIAN L OSS $250,000

$800,000

Latin America and the Caribbean Report to the Nations 67