There are many resources available for those seeking to deter and detect financial fraud. Research in recent years has yielded valuable information about the conditions that make an organization more susceptible to fraud, as well as techniques and tools that support both deterrence and detection. This knowledge is of particular value to all participants in the financial reporting process, including management, boards of directors, audit committees, and internal and external auditors.

ANTI-FRAUD COLLABORATION RESOURCES

Featuring a panel of top experts, this July 2018 webcast from the Anti-Fraud Collaboration explored the potential implications for fraud risk when it comes to the use of financial measures, presented outside the audited financial statements, that do not conform to US Generally Accepted Accounting Principles (GAAP).

Slides for this webcast are available here.

MODERATOR:
Cindy Fornelli, Center for Audit Quality, Executive Director

PANELISTS:
Phil Billington, HCA, Vice President, Internal Audit
Heather Dixon, AETNA, VP, Controller and Chief Accounting officer
Keith Higgins, Ropes & Gray LLP, Chair, Securities and Governance Practice
Serena I. Wolfe, Ernst & Young LLP, Partner

Gilly Lord, Head of Audit Strategy & Transformation at PwC UK, shares key takeaways on the importance of corporate culture in combating fraud.

Sound corporate culture is a cornerstone of fraud deterrence and detection. This December 2017 webcast, hosted by the Anti-Fraud Collaboration, highlights leading practices on assessing and strengthening a company’s corporate culture. Hear from an expert panel, who share actionable recommendations that organizations can implement to deter fraud and misconduct. The panel also addresses oversight responsibilities of audit committee members, company management, and internal auditors. Expanding on insights contained in a 2017 National Association of Corporate Directors Blue Ribbon Commission report, Culture as a Corporate Asset, the webcast covers how culture impacts strategy, risk, and performance.

Slides for this webcast are available for download here.

MODERATOR:
Cindy Fornelli, Center for Audit Quality, Executive Director

PANELISTS:
Mark Carawan, Citigroup, Chief Compliance Officer
Brenda J. Gaines, Tenet Healthcare Corp., Audit Committee Chair
Gilly Lord, PwC, Head of Regulatory Affairs and Audit Strategy & Transformation
Paul L. Walker, St. John’s University, Schiro/Zurick Chair in Enterprise Risk Management

The risk of fraud should be considered when designing controls throughout financial and business processes. However, there are several reasons to look beyond the traditional approaches to preventing and detecting fraud, writes John Verver at the FEI Daily blog.