This free webcast, hosted by the Anti-Fraud Collaboration, promotes the importance of skepticism and how it can be critical in detecting fraud or error during the financial reporting process. A panel comprised of financial reporting supply chain members provides practical insights into how to enhance skepticism while overcoming biases, managing the risks of emerging technologies, and emerging from a crisis. Hear from an expert panel, who will share actionable insights into enhancing skepticism:

  • Brian Wilson, Vice President, Corporate Controller of MyEyeDr.
  • Julie Vichot, Audit Partner of Deloitte
  • Nancy Haig, Chair of the North American Board of The IIA
  • Julie Bell Lindsay, Executive Director of the Center for Audit Quality.

Read the Anti-Fraud Collaboration’s complementary report on Skepticism in Practice.

The CAQ’s Julie Bell Lindsay, Executive Director, interviews Grant Thornton’s CEO, Brad Preber, to explore the impact of COVID-19 on fraud. Watch this webisode to learn about emerging fraud and cyber risks, the CAREs Act, different types of fraud schemes, and how members of the financial reporting supply chain each have a responsibility in mitigating fraud risk.

Despite numerous other challenges faced by companies during one of the most disruptive times in recent decades, cybersecurity remains top of mind for businesses as they respond to the COVID-19 pandemic. This post, part of an emerging technology series from the Anti-Fraud Collaboration, examines the implications of cybercrime during the crisis.

The Anti-Fraud Collaboration is pleased to send you the second issue of our newsletter that includes updates on the various resources and programs we developed in Q3 2020.

Use skepticism to fight fraud

Our new report, Skepticism in Practice, explores the importance of more critically assessing the potential for fraud and examining certain biases that can leave organizations vulnerable to deceptive activities and misconduct. The report provides tools and techniques needed to shift organizations toward a better balance between trust and skepticism as it relates to fraud and other important considerations.

Read the full report here.

Watch the latest Anti-Fraud in Action webisodes

Missed a webisode? Watch the entire series here.

Regulatory engagement on fraud, technology, and the expectation gap

CAQ’s Senior Manager of Anti-Fraud Initiatives, Lucy Wang, and Professional Practice Fellow, Yuri Zwick, participated in two IAASB-facilitated roundtable discussions that focused on:

  • Fraud in the Digital Age: Explores new vulnerabilities and fraud risks auditors should consider; new and emerging technology used to detect fraud; current trends in how frauds are perpetrated using technology; and challenges presented by technology in relation to fraud.
  • Narrowing the Gap: Fraud and Going Concern: The main causes of differences between public perception and auditor’s responsibilities with regard to fraud and going concern in audits of financial statements; and what can be done across the external reporting ecosystem to address these differences.

Interested in learning more? Click on the topics to view the discussions, and send us your questions or comments.

Free CPE self-study courses

The Anti-Fraud Collaboration’s webcasts on corporate culture are now available as free CPE self-study courses from the AICPA.

What’s remaining for 2020

Featured news clips

COVID-19 resources

What content are you interested in seeing us cover? Let us know.
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“Skepticism in Practice,” a new report by the Anti-Fraud Collaboration, a cooperative dedicated to advancing the discussion of critical anti-fraud efforts and integrity in financial reporting, explores the importance of more critically assessing the potential for fraud and examining some of the biases that can leave organizations blind to deceptive activities. A healthy dose of skepticism is key.

Led by an expert panel, this program highlights leading practices on assessing and strengthening a company’s corporate culture, including how culture impacts strategy, risk, and performance.

Highlight leading practices that bring together qualitative and quantitative data that exist within an organization

The CAQ’s Margot Cella, Vice President, Research and Anti-Fraud Initiatives, interviews Azlo’s Senior Director of Compliance and Internal Control, Dana Lawrence, to explore the pervasiveness of big data and its data ethics and governance implications during the COVID-19 crisis.

The Anti-Fraud Collaboration (AFC) is pleased to share our inaugural issue of a new quarterly newsletter that will provide updates on the various resources and programs developed by the Collaboration members.

Publications & Events

COVID-19 Resources

New Anti-Fraud in Action Webisode: A Focus on Ethical Culture and Diversity During Crisis

The first webisode in our Anti-Fraud in Action series features a discussion between Stephen Rivera, Johnson & Johnson VP of Global Technical Accounting Advisory Services & Policy, and Margot Cella, CAQ VP of Research and Anti-Fraud Initiatives, on the issues facing public companies during the COVID-19 pandemic. Rivera shares insights on leveraging a strong, ethical culture and the importance of diversity and inclusion during a critical time in crisis.

Watch the Interview with Deloitte’s Forensic Partner on Mitigating Fraud Risk in Times of Uncertainty:

On April 24, the CAQ presented at Ethic and Compliance Initiative’s (ECI) IMPACT 2020 virtual conference, featuring Deloitte Forensic Advisory Partner, Holly Tucker, and CAQ VP of Research and Anti-Fraud Initiatives, Margot Cella. The session highlighted the heightened fraud risk during the COVID-19 crisis with a focus on implications of the CAREs Act and types of potential frauds. Tucker also emphasized that companies should expect a lag time of three months to a year for detecting a fraud from when it might occur. Watch clips from the interview here.

For more on this topic, read the CAQ resource Managing Fraud Risk, Culture, and Skepticism During COVID-19

More COVID-19 Resource Exchanges:

Stay current on the how the COVID-19 crisis is impacting the financial reporting supply chain. The AFC members are developing new COVID-19 resources to keep you informed.

Culture Whitepaper & Webcast

“Building on the Anti-Fraud Collaboration’s decade-long efforts to raise awareness of the influence of corporate culture on conduct, this white paper emphasizes the efficacy of regular assessment in deterring and detecting those elements of culture that can serve as a breeding ground for misconduct,” said CAQ Executive Director, Julie Bell Lindsay.

In Assessing Corporate Culture: A Proactive Approach to Deter Misconduct, the AFC shares insights into the importance of assessing culture as well as considerations for the ownership of the culture assessment process.

This topic is further explored in a complementary AFC webcast, A New Focus on Corporate Culture: How to Assess Culture and Why, which highlights leading practices that bring together qualitative and quantitative data that exist within an organization, coupled with key information that companies should collect and monitor to contribute to a robust culture assessment.

Want the short version? Don’t miss the AFC’s corporate culture video series that spotlights: What is Culture?, Who Owns it?, How to Approach it, Analyzing the Results, and Evolving it.

Emerging Technology Series

In 2020, the AFC launched a content series that explores the effectiveness of fraud deterrence and detection enhanced by emerging technology. The series also provides insights into how digital transformation is impacting the financial reporting process and its supply chain members—i.e., internal and external auditors, board and audit committee members, preparers, and financial executives.

Featured News Clips

What We’re Working On

Stay tuned for our next quarterly update! Below is a sneak peak of key topics and developing resources from the AFC.

  • Interview with the SEC Coronavirus Steering Committee Members
  • Interview with a Data Ethics and Governance Expert
  • New Publication on Skepticism
  • Fraud and Emerging Tech: Cybersecurity
  • Fraud and Emerging Tech: Artificial Intelligence

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