The study, carried out by Financial Director magazine in conjunction with COA Solutions, found that 41% believe it would be possible for them to divert some of their company's funds into their own pockets, with 17% admitting that it would be "very easy."
Fifty-eight percent, meanwhile, said it would be "difficult" or "very difficult" to commit fraud.
Worryingly, 40% of the 71 managers and senior finance professionals surveyed stated that they have previously witnessed or suspected fraudulent activity amongst their colleagues.
According to COA Solutions, the results coincide with the Ernst & Young 11th Global Fraud Survey which revealed that fraud appears to be increasing in the last two years.
In light of these findings, COA solutions is urging organisations to invest in added security solutions, such as spend analytics software, which integrates into financial management systems to provide another layer of fraud detection and prevention.
Mark Thompson, COA's managing director, said that the survey results suggest that many organisations are without the necessary fraud detection and prevention solutions, leaving themselves wide open to staff fraud and the associated cost and reputational damage.
"This is especially worrying considering that the new UK Bribery Act will be holding companies liable if they fail to prevent employees or consultants from committing bribery", he explained.