A Collaboration
Against Fraud
The key to protecting companies from fraud is for all members of the financial reporting ecosystem to demonstrate vigilance, a resolve to exercise skepticism, focus on culture and attention to risk. Through thought leadership, education and research, the Anti-Fraud Collaboration (AFC) serves audit committees, auditors, company management and regulators.
Understanding the Role We All Play in Fighting Fraud
Every member in the financial reporting supply chain plays a critical role in deterring and detecting fraud. Our mission to enhance the effectiveness of financial fraud risk management means we are committed to sharing resources that can help you in your role to combat fraud.
Select a role below to learn more about the part they play in the chain.
Company Management
Public company management is at the forefront of fraud deterrence and detection. The AFC provides insights into management’s role from setting an ethical culture throughout the organization to establishing strong corporate governance. Dive deeper with the AFC.
Audit Committees
Boards of directors and audit committees are responsible for oversight of the business and critical risk areas. Learn more about the audit committee’s role in mitigating fraud risk from the AFC’s resources.
Internal Auditors
Internal auditors play a critical role in a company’s control environment and have a professional responsibility to manage fraud risk. Explore the AFC’s resources to understand how internal auditors examine key fraud risk areas.
External Auditors
External auditors provide reasonable assurance that financial statements are free of material misstatement, including from fraud, and they must be independent of the company they audit. Explore the AFC’s resources to understand the external auditors’ role in fraud deterrence and detection.
Regulators
Regulators make and enforce rules governing the integrity in financial reporting. The AFC aims to continually expand its engagement with regulators such as the Securities and Exchange Commission and Public Company Accounting Oversight Board. Learn more about the AFC’s role in convening all members of the financial reporting supply chain.
Company Management
Public company management is at the forefront of fraud deterrence and detection. The AFC provides insights into management’s role from setting an ethical culture throughout the organization to establishing strong corporate governance. Dive deeper with the AFC.
Audit Committees
Boards of directors and audit committees are responsible for oversight of the business and critical risk areas. Learn more about the audit committee’s role in mitigating fraud risk from the AFC’s resources.
Internal Auditors
Internal auditors play a critical role in a company’s control environment and have a professional responsibility to manage fraud risk. Explore the AFC’s resources to understand how internal auditors examine key fraud risk areas.
External Auditors
External auditors provide reasonable assurance that financial statements are free of material misstatement, including from fraud, and they must be independent of the company they audit. Explore the AFC’s resources to understand the external auditors’ role in fraud deterrence and detection.
Regulators
Regulators make and enforce rules governing the integrity in financial reporting. The AFC aims to continually expand its engagement with regulators such as the Securities and Exchange Commission and Public Company Accounting Oversight Board. Learn more about the AFC’s role in convening all members of the financial reporting supply chain.
Priorities and Featured Resources
Our research explores conditions that were present in organizations where fraud was uncovered, and the Anti-Fraud Collaboration is committed to sharing those findings. As part of our effort to develop resources that will provide insights for the entire financial reporting supply chain, we have prioritized key concepts that have been critical in efforts to deter and detect fraud like culture, skepticism, risk, and technology. Explore our resources to understand the role that each of these key priorities play in the fight against fraud below:
Featured Resource
The Role of the Internal Auditor: Assessing and Responding to Fraud Risk
Executive Summary Fraud risk remains a persistent and evolving threat to organizations of all sizes and industries, driven by geopolitical uncertainty, increasing complexity in business models, rapid technological change, and heightened...
Priorities
The Impact of Fraud on U.S. Public Companies | Webcast
Event recording Download event slides Join the Anti-Fraud Collaboration (AFC) in our webcast to explore the pervasiveness and impact of fraud at U.S. public companies and gain insights into recent survey findings that shed light into the...
A Fraud Forum Hosted by the AFC: Navigating a Dynamic Fraud Risk Environment
Executive Summary The Center for Audit Quality (CAQ) and Anti-Fraud Collaboration (AFC) convened a multi-stakeholder dialogue amongst members of the financial reporting ecosystem at a second Fraud Forum during the 2025 International Fraud...
The Role of the Internal Auditor: Assessing and Responding to Fraud Risk
Executive Summary Fraud risk remains a persistent and evolving threat to organizations of all sizes and industries, driven by geopolitical uncertainty, increasing complexity in business models, rapid technological change, and heightened...
Fraud and Emerging Tech: Deepfakes
As generative AI (genAI) continues to advance, we have seen many beneficial and productive uses of this technology. However, alongside these gains, genAI can also be misused in harmful ways. For example, genAI has made it easier for bad...