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 [1] issued on Monday, November 14, include the Center for Audit Quality (CAQ [2]), Financial Executives International (FEI [3]), the Institute of Internal Auditors (IIA [4]), and the National Association of Corporate Directors (NACD [5]). 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 [6] announced the release of the first 'tool' in which input was gathered from the collective partnership: FEI's Fraud Literacy Quiz [7], and a related article which appears in the November issue of Financial Executive magazine, Financial Reporting Fraud: Prevention Starts At The Top. [8] (CPE credit is available for those who read the magazine article, register in FEI's CPE center, and respond to the CPE questions).

(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 [9].