Anti-Fraud Collaboration Rolls Out Tools To Increase Awareness, Enhance Communication

A collaborative anti-fraud effort, launched a year ago by four organizations representing key members of the financial reporting 'supply chain,' has released the first in a set of 'tools' and programs designed to improve the deterrence and detection of financial reporting fraud.

The organizations taking part in this anti-fraud effort, as noted in this press release issued on Monday, November 14, include the Center for Audit Quality (CAQ), Financial Executives International (FEI), the Institute of Internal Auditors (IIA), and the National Association of Corporate Directors (NACD). The groups formed a partnership a year ago to collaborate on projects to advance efforts to deter and detect financial reporting fraud.

At a press conference on Monday, representatives of the four organizations announced the release of the first 'tool' in which input was gathered from the collective partnership: FEI's Fraud Literacy Quiz, and a related article which appears in the November issue of Financial Executive magazine, Financial Reporting Fraud: Prevention Starts At The Top. (CPE credit is available for those who read the magazine article, register in FEI's CPE center, and respond to the CPE questions).

antifraud-press-conf-photo.jpg

(Pictured above, L-R, Peter C. Clapman, NACD, Hal Garyn, IIA, Marie Hollein, FEI, Cindy Fornelli, CAQ, Michelle Hooper, CAQ) 

Read highlights of the press conference here.

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FEI Financial Reporting Blog provides highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including reporting under Sarbanes-Oxley Sect 404. It is written by Edith Orenstein, Director of Technical Policy Analysis at FEI

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