There is rarely a single root cause of fraud, but being aware of some of the common fraud schemes, like improper revenue recognition, reserves manipulation, inventory misstatement, and loan impairment deferral, can help organizations deter and detect fraud more readily.
While company management is responsible for assessing fraud risk and establishing controls, other members of the supply chain, like internal auditors, can play an important role in evaluating management’s measures to reduce the risk of fraud, too.
It is also essential to look beyond traditional approaches; for example, what are the potential implications for fraud risk when it comes to the use of non-GAAP measures? How can data analytics and technology support our efforts to combat risk?
The Anti-Fraud Collaboration examines higher-risk areas that are susceptible to fraud and shares insights into what financial reporting supply chain stakeholders can do to identify and mitigate these types of fraud risks more effectively.
The resources below explore multiple angles of fraud risk.
Shifts in the economy, geopolitical landscape, and technological developments have created an environment in which companies are potentially more vulnerable to fraud. In recent years, as major corporate failures and scandals continue to be in the spotlight, fraud has...
The fraud risk landscape has evolved rapidly and the risk of fraud is present in every industry, particularly since the COVID-19 pandemic. A strong fraud risk management (FRM) program is a powerful tool that organizations can implement to address emerging fraud risks....
In this exclusive interview, facilitated by the Center for Audit Quality and Anti- Fraud Collaboration, Ethisphere Editor in Chief Bill Coffin speaks with Linda Miller, Principal, Advisory Services, Grant Thornton LLP, and Paul Sobel, Chairman of the Committee of...
As a follow up to its recent report, Mitigating the Risk of Common Fraud Schemes: An analysis of SEC Enforcement Actions, the Anti-Fraud Collaboration (AFC) analyzed data collected during its comprehensive review of 204 SEC enforcement actions to provide additional...
Many organizations have faced significant disruptions and challenges during the global pandemic. The Anti-Fraud Collaboration, along with the Business Ethics Leadership Alliance (BELA) and the Center for Audit Quality, brought together representatives from 16 global...
Fighting financial fraud is a shared responsibility that requires vigilance from all members of the financial reporting ecosystem, including public company management, the audit committee, and internal and external auditors. Every member has unique skills that can be...