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 do not provide information beyond that found in the case. Rather, they aim to enable discussion participants to see certain material in a new light and allow the discussion leader to emphasize certain aspects of the case in the classroom.
Effective accounting policies and internal controls are key for stemming fraud and reducing the number of financial restatements. So how can companies improve in these two areas? Hosted by the Anti-Fraud Collaboration, this July 2017 webcast highlights leading-practice recommendations from top company executives, corporate directors, and auditors. The webcast also outlines the importance of creating accounting policies and controls, crafted through risk-based evaluations, that can be easily understood by non-accountants. Expanding on insights contained in a 2017 Anti-Fraud Collaboration report—Addressing Challenges for Highly Subjective and Complex Accounting Areas—the webcast’s panelists include experts from across the financial reporting supply chain. They discuss how successful companies utilize strong accounting policies to deter and detect fraud while providing actionable recommendations that each supply chain member can bring to their organizations.
How does the Securities and Exchange Commission (SEC) go about early identification of potential securities law violations involving financial reporting? In this video, hear from the SEC’s Margaret McGuire, Senior Counsel to the Director of Enforcement and Chief of the SEC’s Financial Reporting and Audit (FRAud) Group. McGuire discusses the objectives of the FRAud group, its extensive use of technology, and how cooperation, self-remediation, and self-reporting are key tenets of the SEC’s enforcement program.
This edition of the Center for Audit Quality’s “Profession in Focus” interview series features KPMG LLP Partner Timothy Hedley. KPMG’s Global Lead for Fraud Risk Management service offerings, Hedley discusses the keys to robust fraud deterrence and detection, the role of technology in anti-fraud efforts, and the importance of ethical corporate culture.