News and analysis on the global fight against fraud
Dave Cotton, CFE, CPA, chairman at Cotton & Company, LLP, recently collaborated with several members of the ACFE to start a new group* in the ACFE Community dedicated to fraud risk management. In this group, members can discuss how to perform fraud risk assessments, implement best practices and raise fraud risk management awareness in organizations of all sizes and industries.
Read MoreIn April 2018, the ACFE released the 2018 Report to the Nations, which provided a global analysis of the costs and effects of occupational fraud (i.e., fraud committed against the organization by its own officers, directors, or employees). The report highlighted the tremendous impact occupational fraud has on organizations throughout the world. In a new sub-report, we now focus more closely on how occupational fraud impacts the government sector.
Read MoreIn a new sub-report, we now focus more closely on how occupational fraud impacts organizations in the Asia-Pacific region. This study is based on the 220 cases of occupational fraud from Asia-Pacific countries that were reported in our 2017 Global Fraud Survey. Collectively, these cases, which accounted for 11% of all cases in our global study, caused a median loss of USD 236,000 and lasted a median 18 months before they were detected.
Read MoreThere are now more reasons than ever to implement an effective fraud risk management framework for personnel in your organization. The focus on individual responsibility has dramatically altered and employees should now be educated as to the risks and repercussions, especially in the U.S. As a result of the memorandum titled “Individual Accountability for Corporate Wrongdoing” issued by former U.S. Deputy Attorney General (DAG) Sally Yates on September 9, 2015 — even those who merely had knowledge that something wrong was happening but didn’t report it would potentially face penalties.
Read MoreBusiness operations – and frauds – now routinely span geographical borders, requiring new knowledge and skill sets for those attempting to prevent, detect, and investigate white-collar crimes. As the fraud examination profession has grown globally and the fight against fraud has grown more complex, the need for information and professional connection has never been greater.
Read MoreNews and analysis on the global fight against fraud.
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