Visit the Association of Certified Fraud Examiners Website at cfenet.com. Find and open the file “2008 Report to the Nation.” Read the two-page Executive Summary and fill in the following blanks.
1. The median loss caused by occupational frauds was $________.
2. More than ___________ of fraud cases caused at least $1 million in losses.
3. Companies lose ___% of their annual revenues to fraud; this figure translates to $______ billion in fraud losses.
4. The typical length of fraud schemes was _____ years from the time the fraud began until it was detected.
5. Companies that conducted surprise audits suffered a median loss of $________, whereas those without surprise audits had a median loss of $________.
6. The median loss suffered by companies with fewer than 100 employees was $ per scheme.
7. _____________ and _____________ were the most common small business fraud schemes.
8. ___% of respondents cited inadequate internal controls as the primary contributing factor in the frauds investigated.
9. Only ___% of the perpetrators had convictions prior to committing their frauds.