Deterring and detecting fraud at a time of heightened risk
Fraud risks have increased as a result of the coronavirus pandemic. A new report by the Anti-Fraud Collaboration provides strategies for mitigating those risks.
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Fraud risks have increased as a result of the coronavirus pandemic. A new report by the Anti-Fraud Collaboration provides strategies for mitigating those risks.
CPAs need to be especially watchful for fraud amid the severe financial pressures associated with the coronavirus pandemic.
The economic slump resulting from the pandemic has increased the risk of asset write-downs and added to the pressure on auditors to scrutinize impairment models. Company boards also are paying more attention to forecasting and impairment.
With so many organizations financially affected by the COVID-19 pandemic and making an abrupt shift to remote working, there’s a perfect storm for increased fraud in financial statements. Take this quiz to see if you know your responsibilities for auditing fraud risks in your engagements.
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A lawyer with years of experience advising companies on crisis management shares current and future legal risks organizations should be considering.
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