Don’t be caught off-guard.
What can be done to detect and prevent fraud within your company before it's too late? Regulator scrutiny continues to increase. The number of SEC investigations, Department of Justice investigations and securities litigation cases remain well above historical averages. Antifraud programs and controls are now required under Sarbanes-Oxley. These compliance programs will be evaluated annually. This collection of whitepapers and articles will help arm you to detect and prevent fraud.
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| Protecting healthcare companies against fraud, reputation & misconduct risk - April 2007
You don't read much about fraud for any number of reasons, but mostly because companies are reluctant to self-report falsifications. The major financial statement frauds we do read about do capture our attention, but they are not typical of most significant financial fraud. After all, the incidence rate for material financial statement fraud is only 2%. However, the incidence rate for significant misappropriation of assets is 35%.
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Predicting the unpredictable: Protecting aerospace & defense companies against fraud, reputation and misconduct risk - September 2006
The greatest assets of an aerospace and defense company are its reputation and brand value. Consequently, damage to the brand or reputation represents the greatest risks. Aerospace and defense companies have unique risks due to the large scale and value of contracts, fierce competition and the complexity of the regulatory and compliance environment. This report identifies the most common fraud risks impacting the sector and also looks at the elements which work together to create an effective antifraud program.
Protect your shipment: Supporting transportation & logistics companies in managing fraud risks - November 2006
Fraud has continued making headlines into the 21st century, yet many executives still believe that "fraud can't happen in my company." This report will outline some of the most common fraud schemes in the transportation & logistics industry and provide suggestions on combating fraud.
2005 securities litigation study - May 2006
Private securities class actions subside in 2005 as settlement values skyrocket. In 2005, there were 168 new private securities litigation cases filed in the United States. This is the lowest number in nine years. What is behind these lower numbers? One factor might be the current backlog of major cases. Enron, WorldCom, Adelphia, and so on already being handled by the plaintiffs’ bar, consuming the time and resources of securities plaintiffs’ lawyers and causing them to delay new case filings. Another reason may be the hoped-for deterrent effect of Sarbanes-Oxley, as corporate executives observe the long prison sentences handed out in connection with Enron, Dynegy, WorldCom, Tyco, and other matters. More vigorous investigation, enforcement, and prosecution by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) may also be helping generally, while the recently completed initial year’s Management Assessment of Internal Controls under Sarbanes-Oxley Section 404 may have helped management at publicly listed companies focus on improving internal accounting and reporting controls.
A guide to forensic accounting investigation - March 2006
Few would deny that from a business perspective we live in the post-Enron era. The keynotes of the era are tough new legislation and regulation to strengthen corporate governance, new oversight mechanisms to audit the auditors, and slow but sure progress toward expansively redefining the auditor’s responsibilities. All of this is intended to achieve permanent, irreversible improvement in investor confidence in corporate information, and it is clear that investor mistrust has contributed to the faltering economy of the post-Enron era. Pushing these trends relentlessly forward is the conviction of the concerned public that the audit process—through external, independent auditors and through internal auditors—can, should, and must deter and detect material fraud.
Predicting the unpredictable: Protecting transportation & logistics companies against fraud, reputation and misconduct risk - March 2006
The potential for corporate fraud and misconduct to easily spread from a small brush fire into a full-blown firestorm has garnered the attention of the United States Securities and Exchange Commission, the Public Company Accounting Oversight Board and the Federal Sentencing Commission. While it may not be possible to eliminate the risk of fraud altogether, a company can at least identify it early and minimize its damage with proper planning, policies and procedures. This report provides step-by-step guidance on how a transportation & logistics company can develop an effective antifraud program that addresses not only financial statement risk, but equally significant reputation, operational, legal and strategic risks. In addition, it provides a summary of fraud schemes that are common to the industry.
ViewPoint—Fraud: Time for straight-talking and constructive action - January 2006
Only straight-talk and concerted action that can counteract the vast and complex threat posed to business by fraud. In the third of our ViewPoint papers, we call for a full and frank debate by all stakeholders to combat the vast range of fraudulent activity suffered by companies around the world. Action needs to be taken to detect and deter.
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