Collaborative Anti-Fraud Initiative Releases First Guidance
Financial reporting fraud has been an ongoing concern for investors and other capital market stakeholders. While there is no silver bullet solution for eliminating fraud, the Center for Audit Quality’s (CAQ) Anti-Fraud Initiative endeavors to increase collaboration and communication among members of the “financial reporting supply chain.”
The CAQ’s collaboration with groups like The Institute of Internal Auditors, the National Association of Corporate Directors (NACD), and Financial Executives International (FEI), as well as other interested parties, will result in the development of tools and information targeted to advance efforts to lessen fraud risk.
The first in the collaborative group to release such tools and information is Financial Executives International (FEI), who has developed a Fraud Literacy Quiz. The quiz, which is open to the public, comprises a series of questions designed to assess an individual’s knowledge on topics related to deterring and detecting financial reporting fraud.
FEI is offering free CPE credits to individuals who read the article and successfully answer questions about its content.