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.
The Anti-Fraud Collaboration has developed a successful series of case studies centered around hypothetical fraud scenarios. Each case study starts with a set of facts about a fictional company, and through the case, members of the financial reporting supply chain and...
In follow up to the release of The Anti-Fraud Collaboration’s publication, Mitigating the Risk of Common Fraud Schemes: Insights from SEC Enforcement Actions report, the AFC facilitated a roundtable discussion among participants representing the financial reporting...
Over the years, the Securities and Exchange Commission’s (“SEC”) enforcement efforts have focused on a wide range of alleged misconduct, related but not limited to, intentional and non-scienter frauds, issuer reporting and disclosures, auditor shortcomings, absent or...
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...
The CAQ’s Margot Cella, Vice President, Research and Anti-Fraud Initiatives, has a conversation with the SEC Division of Enforcement’s Associate Director, Carolyn Welshhans, to discuss the priorities of the SEC Coronavirus Steering Committee, how the Committee is...
How can public companies mitigate fraud risk in times of uncertainty? The CAQ’s Margot Cella joins Holly Tucker, Partner at Deloitte Financial Advisory Services for a panel discussion at the 2020 ECI IMPACT Conference. Don’t miss the highlights in the series below, or...