About Anti-Fraud Collaboration
Formed in 2010 by four organizations representing members of the financial reporting supply chain, the Anti-Fraud Collaboration seeks to develop resources that will provide insights and recommendations on how to more efficiently and effectively focus on fraud deterrence, detection, and risk management.
Why the Anti-Fraud Collaboration?
The Anti-Fraud Collaboration was created with the recognition that fighting fraud is a shared responsibility across the financial reporting supply chain. The Center for Audit Quality (CAQ), Financial Executives International (FEI), The Institute of Internal Auditors (IIA), and the National Association of Corporate Directors (NACD), representing members of the financial reporting supply chain, have formed a collaboration dedicated to advancing the discussion of critical anti-fraud efforts through initiatives focused on the following mission:
Enhance the effectiveness of financial fraud risk management by promoting anti-fraud policies, procedures, controls, and practices, including those enhanced or enabled by technology.
Our Goal and Underlying Principles
Our goal is to develop resources that will provide insights and recommendations on how to more efficiently and effectively focus on fraud deterrence, detection, and risk management. The resources developed aim to maximize utilization and impact. Examples of resources include, but are not limited to:
- promotion and organization of forums for constructive discussions on relevant issues
- development of webcasts and panels at conferences
- creation of educational materials and case studies
- publication of reports and articles on relevant topics
We seek to motivate continuous improvement and change in the execution of the supply chain members’ fraud deterrence, detection, and risk assessment activities.
Areas of Focus for Collaborative Projects
The Anti-Fraud Collaboration’s initiatives focus on the following broad areas:
- Advancing the understanding of causes and conditions that contribute to fraud.
- Developing resources to assist in the assessment, mitigation, and management of fraud risk.
- Promoting additional efforts to increase skepticism.
- Exploring the role of emerging technology in facilitating the deterrence and detection of fraudulent financial reporting.
- Keeping current on regulatory matters and enforcement updates relevant to fraud.
- Enhancing awareness of business challenges and vulnerabilities that may lead to financial and non-financial misconduct.
The Anti-Fraud Collaboration’s areas of focus will evolve over time, reflecting changes in the business and reporting environment as well as priorities of the Collaboration organizations and its members.