When we think of financial crime, few would consider procurement fraud to be one of the most pressing threats facing their business. Yet according to PwC, this form of fraud is the second-most commonly reported economic crime in the world, ranking above bribery, corruption and even cybercrime.
When I began my career in finance almost 20 years ago, the CFO was a very different position to the role it is today. I started out in the Big Four (when it was the Big Five) and spent the first 12 years of my career working with many different CFOs across a broad spectrum of industries and countries.
Over the past several years, the role of the chief financial officer (CFO) has changed dramatically. This is due to many factors, including the global financial crisis of the last decade, the emergence of big data, the changing technological landscape and the ubiquitous influence of social media.
A ‘no-deal’ Brexit is very much on the cards. The European Banking Authority has starkly warned businesses to ramp up preparations considerably over the next eight months before we head out of the European Union
Just recently, Goldman Sachs reduced the number of employees on one of its major trading desks from 500 a few years ago to merely three. The bank is making huge shifts towards more investment in technology and reducing its headcount
Recovery in Europe is picking up. In the United States, the conditions seem to be also favorable for businesses with lower taxes, with low unemployment rates providing disposable income and driving demand.