Singaporean corporations are more naive in their approach to anti-fraud and corruption practices in comparison to the Asia-Pacific average, a survey from global accountancy firm Ernst & Young has found.
According to the "Building a more ethical business environment survey," only 17 percent of Singaporean respondents acknowledged that planned investments in new markets will expose the company to new risks, compared to an average of around 35 percent for the Asia-Pacific region.
"Companies in Singapore don't necessarily lag behind in terms of anti-fraud and corruption practices; what we found is a disconnect between policies that companies already have in place and the enforcement of those policies," said John Tudorovic, fraud investigation and dispute services partner at Ernst & Young.
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Irvin Carrasco Carrasco
