Fraud is increasingly a driver of corporate financial distress.
A 2016 survey by the Chartered Professional Accountants of Canada (CPA Canada) showed that 75% of CPAs are more worried about fraud today than just 5 years ago. Everyday it seems the financial news has another fraud story, today’s being ABB’s $100 million loss in South Korea.
As an adviser, we deal with the aftermath of fraud, including investigation, from a financial point of view, and the turnaround of the damaged business.
But we rarely get to follow through to the end of the legal process for the perpetrator.
Which is why we found interesting the below chart showing the sentencing range imposed in recent major Canadian commercial fraud cases.
We lifted this chart from the Insolvency Insider, an excellent newsletter found HERE.