A core competency for a global economy.

• Author: Kristie, James
• Position: Reprint

From Managing the Risk of Fraud and Misconduct by Richard H. Girgenti and Timothy P. Hedley. Copyright 2011 by the authors. Published by McGraw-Hill (www.mhprofessional.com).

AS WE ENTER THE NEXT DECADE of the 21st century, issues of fraud and misconduct will inevitably play a central role in both the public and private sector. Recovery from the economic downturn, post-recession performance, and effective and sustainable management of risk, especially the risk of fraud and misconduct, will distinguish the winners from the losers.

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The new world order that will emerge in this decade and beyond will likely include further globalization, with increased shifts of economic power from traditional Western markets such as the United States and Europe to...