Risk of Waste, Abuse and Fraud in Procurement Seen an Increasing Threat in a Down Economy

New PricewaterhouseCoopers report on procurement risk highlights red flags and emphasizes the need for more effective internal controls and ethics/compliance programs

New York — August 11, 2009 — With procurement fraud cases continuing to proliferate, companies must put into place effective strategies and procedures that mitigate risk in an effort to prevent procurement fraud, according to a new report from PricewaterhouseCoopers.

In an analysis of the National Procurement Fraud Task Force (NPFTF) data, PwC underlines these risks in a report entitled "Cracking Down: The Facts about Risks in the Procurement Cycle."