Wipfli joins movement to shine a spotlight on fraud
October 28, 2014
Fraud costs organizations worldwide an estimated 5 percent of their annual revenues, according to a study conducted by the Association of Certified Fraud Examiners (ACFE). When applied to the 2013 estimated Gross World Product, this translates to a potential projected global fraud loss of nearly $3.7 trillion.
The seriousness of the global fraud problem is the reason Wipfli LLP (Wipfli) announced that it will be participating in International Fraud Awareness Week from November 16 to 22, by promoting anti-fraud awareness and education. The movement, known commonly as Fraud Week, champions the need to proactively fight and help safeguard businesses and investments from fraud.
Wipfli joins hundreds of organizations who have partnered with the ACFE, the world's largest anti-fraud organization and premier provider of anti-fraud training and certification, for the annual Fraud Week campaign.
During Fraud Week, Wipfli will publish articles and provide fraud-related resources on the firm’s website, through industry-targeted newsletters and social media outlets. The firm will also host webinars to educate businesses on anti-fraud measures and taking a proactive approach to prevent fraud. The firm’s fraud experts will also team with local media to highlight the problem.
According to Bob Cedergren, partner-in-charge of Wipfli’s Risk Advisory and Forensic Services practice, “Fraud is a significant threat to organizations and the losses from fraudulent activity are staggering. Increasing fraud prevention awareness at all levels of an organization goes a long way to improving the overall internal control environment of an organization. Additionally, it equips management and employees with knowledge to identify potential internal control breakdowns that could be used to propagate a fraud.”