Frauds come in many guises. Let’s look and learn from them. The Association of Certified Fraud Examiners estimates that organisations lose five per cent of revenue to fraud each year.
Fraud and non-compliance with laws and regulations is a governance responsibility. What should a board be doing? Managing risks and encouraging whistleblowing? How does risk affect assessment under ASA 315/ISA Risk of Material Misstatement and ASA/ISA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of a Financial Report? We will explain.
This session will cover:
- Examples of recent corporate and NFP frauds
- The insights and lessons from the Association of Certified Fraud Examiners The Occupational Fraud 2024: A Report to the Nations
- Governance responsibilities under corporate and ACNC legislation, and corporate-governance principles and recommendations for listeds and NFPs
- The ethical principles for preparers, and
- The key principles of relevant auditing standards relating to fraud risk.
