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.
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 current fraud risk environment...
The Anti-Fraud Collaboration (AFC) hosted an inaugural Fraud Forum in November 2024, which convened a multi-stakeholder dialogue amongst members of the financial reporting ecosystem to explore the current and future state of the fraud risk landscape through a series...
The Association of Certified Fraud Examiners (ACFE) and the Anti-Fraud Collaboration (AFC) partnered to assess the impact of all forms of fraud on publicly traded companies in the United States. By providing insight into these organizations’ fraud losses in recent...
Assurance provided by independent public company auditors creates a foundation of trust in American capital markets. The auditing profession remains focused on continuous improvement to audit quality that benefits investors in the U.S. capital markets. In the United...
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 an inaugural Fraud Forum during the 2024 International Fraud Awareness Week....
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...