According to the inaugural KPMG Aud

According to the inaugural KPMG Audit
Committee Institute report, fraud is a pervasive and
serious threat in Singapore – nearly one out of four
companies in Singapore has experienced at least one
fraud incident. Based on a survey of directors and
senior executives of the top 1,000 organizations in
Singapore, the proportion of respondents who have
suffered from financial reporting frauds has grown
from 9 percent to 24 percent during the survey
period (KPMG-ACI, 2009).