International Fraud Awareness Week: Are You Prepared to Fight Fraud?

International Fraud Awareness WeekIn a rapidly evolving fraud risk landscape, fighting fraud is more important and more challenging than ever.

To mark this year’s International Fraud Awareness Week (November 12-18), the Center for Audit Quality (CAQ) is partnering with the Association of Certified Fraud Examiners (ACFE) to help members of the financial reporting ecosystem fight fraud. As a partner of the Anti-Fraud Collaboration (AFC), the CAQ and the AFC collaborated to create a wide range of resources to assist in deterring and detecting financial fraud.

As the Director of Anti-Fraud Initiatives, I work closely with representatives from the Anti-Fraud Collaboration, task forces, and the broader profession on issues related to fraud deterrence and detection. What I can say is this: fighting fraud is a shared responsibility among all members of the financial reporting ecosystem.

It’s never too late to learn how to better detect and deter fraud in your line of work. I have compiled a list of resources for you to enhance your anti-fraud skillsets today:

International Fraud Awareness Week
As organizations across the globe are increasing their anti-fraud efforts, I encourage you to explore ways that you can further enhance your anti-fraud skillset. Explore resources from a range of topics.

Designing and Executing a Strong Fraud Risk Management Program
The AFC has published a new resource this week that explores how organizations can address emerging fraud risks through the design and implementation of a strong fraud risk management (FRM) program. The resource dives into how to analyze vulnerable areas and respond to risks and continue to evaluate FRM programs to ensure they are effective. Download the resource today.

Fighting Fraud for Two Decades
The Sarbanes-Oxley Act altered the landscape of our financial reporting system by increasing public company management’s accountability for fraud prevention and the external auditors’ independence. Auditors are fulfilling their responsibility to fight fraud under US auditing standards, but fraud deterrence and detection is a shared responsibility. To understand how the U.S. has one of the strongest financial reporting systems in the world, discover the history of fighting fraud today.

Anti-Fraud Resources from the CAQ
A the CAQ, we are always taking necessary steps to focus on fraud deterrence, detection, and risk management. Visit our Fraud Resources page and explore resources to learn how to strengthen anti-fraud efforts in your organization.

Explore the Anti-Fraud Collaboration
The key to protecting companies from fraud is for all members of the financial reporting ecosystem to demonstrate vigilance, a resolve to exercise professional skepticism, focus on culture and attention to risk. In 2010, the CAQ, along with Financial Executives International, The Institute of Internal Auditors, and the National Association of Corporate Directors founded the Anti-Fraud Collaboration. The AFC provides a comprehensive list of resources, case studies, and self-study online courses for all members of the financial reporting ecosystem. Explore resources focused on culture, risk, skepticism, and technology.

This International Fraud Awareness Week, I urge you to stay engaged and seek out the latest resources to help protect your organization. I also encourage you to follow the AFC on Twitter and LinkedIn to stay up to date on the latest anti-fraud resources.