CEOs in the Czech Republic Express Concern Over Economic Slowdown and Fraud Risk

Economic Uncertainty Looms Large

A recent survey by global accounting firm PwC has revealed that a significant number of CEOs in the Czech Republic are concerned about the potential slowdown in economic growth, which could lead to an increase in competitive pressure and financial stress for companies. This uncertainty may cause employees to resort to unfair business practices, corruption, or even fraud to achieve their goals.

Survey Highlights Concerning Trends

• 29% of CEOs expect a decline in global economic growth in 2019, the highest level of skepticism since 2013.
• 18% of employees would be willing to offer a bribe to win a tender that is crucial for the company’s survival.
• 16% would consider recording revenues prematurely to meet their key performance indicators (KPIs).
• 24% of employees would be tempted to behave unethically in order to receive a promotion or bonus.
• 6% would deliberately manipulate financial results to meet their KPIs.

The Importance of Effective Fraud Prevention Strategies

In light of these findings, the importance of effective fraud prevention strategies is gaining increasing attention not only in terms of criminal liability but also for companies’ reputations and bottom lines. To help organizations better understand what works best in the Czech environment, PwC is conducting a Fraud Prevention Survey in the country.

The PwC Fraud Prevention Survey

The survey aims to gather insights from more than 40 important Czech companies on their experiences with fraud prevention tools and techniques. Participants will receive:

• Detailed survey results
• Comparisons with comparable companies
• An opportunity to discuss fraud prevention strategies with PwC forensic specialists

Who Can Participate?

The one-hour personal or phone interviews are open to CFOs, CEOs, compliance officers, internal auditors, and internal legal counsels from participating companies.