Risk

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.

Fraud prevention should not be an afterthought in crisis planning and response; it should be the starting point.

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.

Managing Fraud Risk: an ECI IMPACT Conference Panel

Managing Fraud Risk: an ECI IMPACT Conference Panel

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...

Managing Fraud Risk, Culture, and Skepticism During COVID-19

Managing Fraud Risk, Culture, and Skepticism During COVID-19

The COVID-19 pandemic has resulted in unprecedented social and economic paralysis. Most companies have transitioned to an entirely remote workforce, and while existing technologies have facilitated connectivity via cloud computing and video and teleconferencing...

Reducing the Risk of Fraud in Financial Systems

Reducing the Risk of Fraud in Financial Systems

Those who design controls throughout financial and business processes should always consider the risk of fraud. However, there are several reasons to look beyond the traditional approaches to preventing and detecting fraud. Data analytics provide a way to...

LDC Cloud Systems Case Study

LDC Cloud Systems Case Study

The LDC Cloud Systems Case Study is another installment in the Anti-Fraud Collaboration’s successful series of case studies. Participants in case study teachings start with a hypothetical scenario about a fictional company dealing with a fraud. Guided by an...

LDC Cloud Systems Case Study Video Vignettes

LDC Cloud Systems Case Study Video Vignettes

The Anti-Fraud Collaboration has developed six short video vignettes for use with the LDC Cloud Systems Case Study. In each vignette, actors reenact several interactions selected from the case study. The videos, which can also be found on YouTube, do not provide...