In this rapidly changing global regulatory environment, fraught with tempestuous economic conditions, it can be difficult for many companies to persevere and continue to grow while remaining ethically above board and compliant.  

To this end, Ernst & Young (E&Y) yesterday released the results of its 2012 Global Fraud Survey. The study, which features findings on fraud, bribery and corruption, gathered responses from more than 1,700 executives across 43 countries, including heads of legal, compliance and internal audit departments and chief financial officers (CFOs).

The 12th annual Global Fraud Survey found that the record levels of fines, penalties and profit disgorgements secured by the U.S. Department of Justice and Securities and Exchange Commission in 2011 raises both the perceived and actual cost of noncompliance. Because of this, E&Y says that companies and their boards must weigh the risks associated with varying degrees of compliance enforcement within their organizations. And moving into new markets definitely introduces additional risks.