Mark Pearson, who works in supply chain forensics for Deloitte, explains how companies can probe one of the top risks—third-party expense categories—and avoid overpaying.
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Forensic services
What’s your fraud IQ?
Organizations seeking to prevent and detect fraud can greatly boost their chances of success by instituting a strong ethics program. How can you develop and deploy a good ethics program? What are the characteristics of an ethical work environment? Test your knowledge in this month’s Fraud IQ quiz.
Fraud
There is no way to guarantee that an organization will not experience financial reporting fraud. But research shows that fraud-resistant organizations share three traits: A tone at the top that encourages an ethical culture. The presence of skepticism. Engagement of all participants in the financial reporting supply chain. That’s according
What’s your fraud IQ?
How well do you know how to prevent, detect, and respond to data breaches? Find out in this month’s Fraud IQ quiz.
Tips for conducting a forensic interview
A properly conducted forensic interview turns a potentially reluctant subject into an information-providing source.
Viewing cybersecurity through a COSO lens
The principles outlined in a popular internal control framework can help organizations manage their cybersecurity.
Fraud
With the help of new investigative approaches—and data and analytical tools—the SEC filed a record 755 enforcement actions totaling $4.16 billion in disgorgement and penalties in fiscal year 2014, the securities regulator announced.
Fraud
Corporate board members of U.S. public companies are keenly focused on risk, but many are uncomfortable with their understanding of which risks the companies are willing to take, according to PwC survey results.
Are organizations hindering employee whistleblowing?
Some measures organizations undertake to promote fraud reporting sometimes have the opposite effect. What can management do to encourage whistleblowing? This article offers a series of suggestions.
Tax phishing goes global with FATCA
Scam artists impersonating the IRS have been requesting foreign financial account holders’ personal and account information, the IRS warned in a news release.
Defining roles in prevention of financial reporting fraud
There is no way to guarantee that an organization will not experience financial reporting fraud. But research shows that fraud-resistant organizations share three traits: A tone at the top that encourages an ethical culture. The presence of skepticism. Engagement of all participants in the financial reporting supply chain. That’s according
SEC filed record number of enforcement actions in fiscal year 2014
With the help of new investigative approaches—and data and analytical tools—the SEC filed a record 755 enforcement actions totaling $4.16 billion in disgorgement and penalties in fiscal year 2014, the securities regulator announced Thursday. The totals for the 2014 fiscal year, which ended in September, are preliminary figures. The SEC
What’s your fraud IQ?
Nearly all organizations rely on vendors to provide certain goods and services to facilitate their business operations. Whether for repairs or maintenance service, a purchase of office supplies, a consulting engagement, or a large capital contract, the need for vendors is universal—but it also carries an inherent risk of fraud.
Board members keenly focused on risk
Corporate board members of U.S. public companies are keenly focused on risk, but many are not comfortable with their understanding of which risks the companies are willing to take, according to new PwC survey results released Tuesday. In the interest of reducing fraud risk, an increasing percentage of board members
SEC expects to pay whistleblower a record $30 million
The SEC expects to pay an award of more than $30 million to a whistleblower—a total that’s more than twice the previous record payout announced in the commission’s 2-year-old whistleblower program. An informant living in a foreign country who provided important, original information that led to a successful SEC enforcement
Madoff account value must be determined at trial
The IRS is denied summary judgment on an estate’s valuation of its account in an infamous Ponzi scheme. Whether an account managed by Madoff Investments or its claimed holdings are considered property included in a gross estate and whether a willing buyer or seller of the account could reasonably know
Lessons from an $8 million fraud
Nathan J. Mueller’s fleecing of his employer, a financial services giant, is noteworthy because of the amount of money stolen, the many years the embezzlement lasted, and the internal control weaknesses that made the scheme possible. This article examines how the crime was committed and what organizations can do to protect themselves from similar losses.
What’s your fraud IQ?
Do you know how to spot the red flags of a fraudulent transaction? Can you evaluate the warning signs? Find out in our Fraud IQ quiz.
What’s your fraud IQ?
CPAs need the ability to ask the right questions and gather crucial information from conversations. Are your interviewing skills up to par? Find out in our Fraud IQ quiz.
Biennial report details fraud’s impact worldwide
Fraud continues to take huge bites from organizational coffers, but the implementation of antifraud controls can significantly reduce the damage done, a new report shows. The Association of Certified Fraud Examiners (ACFE) on Tuesday released its biennial Report to the Nations on Occupational Fraud and Abuse. The more than 1,400
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FROM THIS MONTH'S ISSUE
Corporation’s officer held personally liable for its taxes
A corporate officer who facilitated an insolvent company’s transfer of assets to private creditors while knowing of an outstanding federal tax debt was held personally liable for the taxes owed.
