Spotlight: New Report on Skepticism, Webisodes, and Free CPE

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

• Skepticism in Focus on Mitigating Fraud Risk
  Learn how to effectively exercise and enhance skepticism from The IIA’s President and CEO, Richard Chambers.
• Insights from the SEC Coronavirus Steering Committee
  Gain insights into the SEC Coronavirus Steering Committee’s response to fraud from the SEC Division of Enforcement’s Associate Director, Carolyn Welshhans.
• Balancing Big Data and Data Ethics During COVID-19
  Explore the pervasiveness of big data and contact tracing with Azlo’s Senior Director of Compliance and Internal Control, Dana Lawrence

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.

• A New Focus on Corporate Culture: How to Assess Culture and Why (2.0 CPE Credits)
• ​​​​​​Oversight of Corporate Culture: A Core Asset in Driving Performance (2.0 CPE Credits)

What’s remaining for 2020

• New publication on SEC Enforcement Study
• New content on Fraud and Emerging Tech
• Anti-Fraud in Action webisode on the Impact of COVID-19 on Fraud
• A Focus on Fraud panel at AICPA’s Virtual Conference on Current SEC and PCAOB Developments (Dec 9)
• Free CPE webcast on Enhancing Skepticism to Fight Fraud (Dec 16)

Featured news clips

• Anti-fraud groups stress professional skepticism, Accounting Today
• Companies Adjust Earnings for Covid-19 Costs, but Are They Still a One-Time Expense? Wall Street Journal
• Fighting financial fraud takes a village, Accounting Today
• Fraud on the rise during coronavirus pandemic, Accounting Today
• Global regulatory body to harmonise ‘plethora’ of ESG standards, Financial Times
• Is audit fit for purpose? Financial Times​​​​​

COVID-19 resources

• CAQ: COVID-19 Anti-Fraud Resources
• FEI: COVID-19 Dashboard
• IIA: COVID-19 Resource Exchange
• NACD: COVID-19 Resource Center

What content are you interested in seeing us cover? Let us know.
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