Financial reporting fraud undermines investor confidence and can destroy shareholder value. The impact of uncovering fraud often extends well beyond monetary losses and can lead to unwanted media attention, reputational risks, and can shake the confidence in the integrity of financial markets.
For these reasons and more efforts to combat fraud are important, and require an all hands on deck approach. In this issue of the Institute of Internal Auditors’ Tone at the Top, you can learn more about the long history of the Anti-Fraud Collaboration’s efforts to shed light on fighting fraud, what we can do to close the expectation gap, and ultimately reduce the recurrence of financial reporting fraud and boost investor confidence.