Highlights of fraud research
This review of recent fraud research covers such topics as auditor skepticism toward earnings reports, the effect of lawsuits on audit quality, the influence of incentives on whistleblowing, and more.
Fraud
CPAs: Criminal-pursuing agents
For most CPAs, a lunch with clients is hardly a life-threatening experience. It’s different when you’re an undercover FBI agent posing as an accountant whose clients are mob bosses.
Pay attention to nonfinancial measures when performing audits
Nonfinancial data can be just as important as dollars and cents when detecting fraud.
What’s your fraud IQ?
How well do you know the types of schemes perpetrated by scammers and con artists? Test your knowledge in this month’s Fraud IQ quiz.
Forensic interviews: Plan to succeed
Knowing whom to question and how to go about it in a fraud investigation can save money and time. This article shows how to make the most of interviewing in fraud engagements.
TIGTA: More identity-theft returns stopped, filters still need refinement
In the 2013 filing season, the IRS identified 4.1 million fraudulent returns involving identity theft.
Majority of CPAs polled had clients victimized by tax ID theft this year
Many reported it was difficult or very difficult to resolve the issue with the IRS, echoing recent findings by the Taxpayer Advocate Service.
National taxpayer advocate: IRS falling down on the job of helping identity theft victims
Fewer than 10% of callers to the IRS’s phone line for victims of identity theft got through to an IRS assistor during some of the busiest weeks of tax season.
Monitoring fraud risks in the supply chain
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.
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.
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.
