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Year-End Pressures Got You Down?

As year-end rolls around, with all the attendant pressures of achieving a successful and timely close, dealing with earnings expectations, properly implementing new rules and standards issued by the FASB, IASB, SEC and PCAOB as applicable, and meeting CPE requirements, we thought it’s worth reminding our readers of the excellent article which appeared in the November issue of Financial Executive magazine: Financial Reporting Fraud: Prevention Starts At The Top.  The article was authored by Mari Reidy and Jonathan Theobold of Crowe Horwath LLP.  IMPORTANT NOTE RE: CPE: 1 CPE is available to those who read the article and answer the specified questions by clicking on the link to FEI’s CPE Center which appears at the end of the article. BEFORE TAKING THE CPE QUIZ, set up your free login account in the FEI CPE Center; that is the only way a certificate can be generated for your CPE. Please note also the 'renewal date' you should fill in, in the CPE center, should be your most recent renewal date prior to taking the quiz.
 
On the anti-fraud front, an additional educational tool is the FEI Fraud Literacy Quiz. The Fraud Literacy Quiz is designed to raise awareness and encourage further exploration, training , development and skill building in the area of the deterrence and detection of financial reporting fraud.  Please keep in mind there is no CPE offered for taking the FEI Fraud Literacy Quiz, which is entirely separate from the magazine article and CPE-specific quiz in our CPE Center, noted above.

The two anti-fraud projects were launched contemporaneously as part of an effort brought to you by an anti-fraud collaboration in which thought leadership and other sharing of skills and knowledge is taking place among four professional associations representing some of the key participants in the financial reporting supply chain:   the Center for Audit Quality (CAQ), Financial Executives International (FEI), the Institute of Internal Auditors (IIA), and the National Association of Corporate Directors (NACD).
 
Other initiatives are currently under development within this inter-association fraud prevention initiative launched in October, 2010. Read the report published by the CAQ last year: Deterring
and Detecting Financial Reporting Fraud – A Platform for Action
.”


Posted: 12/22/2011 12:01:39 PM by Edith Orenstein | with 0 comments
Filed under: and,anti-fraud,close,CPE,detection,deterrence,FEI,financial,IIA,NACD,reporting,year-end,AICPA


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Edith Orenstein