Managing the Risk of Fraud and Misconduct: Meeting the Challenges of a Global, Regulated and Digital Environment

1st Edition
0071702598 · 9780071702591
A Comprehensive "C-Level" Guide to Preventing and Responding to Fraud and MisconductMaintaining and enhancing the integrity of an organization in a global, regulated, and digital environment has become an increasingly complex and difficult challenge … Read More
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INTRODUCTION – CHALLENGES AND APPROACHES
  • Challenges and Approaches

  • Challenges of Managing Fraud and Misconduct Risk in a Global, Regulated, and Digital Environment
  • Challenges – Globalization
  • Challenges – Regulation
  • Challenges – Digital Environment

  • Developing an Integrated Approach to Fraud and Misconduct – Prevention, Detection, and Response
  • Approaches – Prevention
  • Approaches – Detection
  • Approaches – Response
    TYPES OF FRAUD AND MISCONDUCT
    Introduction / What is Fraud and Misconduct

    Types of Fraud Schemes

    Fraudulent Financial Reporting Schemes

    Misappropriation of Assets Schemes

    Other Types of Corporate Misconduct

    Corruption and Bribery (See also as special topic)

    Money Laundering (See also as special topic)

    Failure to Meet Government Reporting Obligations

    Violations of Corporate Policies and Standards

    PREVENTING FRAUD AND MISCONDUCT

    Introduction

    Key Elements for Preventing Fraud and Misconduct

    Role of the Board and Audit Committee

    Codes of Conduct

    Fraud and Misconduct Risk Assessments

    Due Diligence Policies

    Internal and External Communication

    Employee Training

    Anti-Fraud and Misconduct Controls Incorporated within Business Processes

    Proactive Forensic Data Analysis (See also as special topic)

    DETECTING FRAUD AND MISCONDUCT

    Introduction

    Key Elements for Detecting Fraud and Misconduct

    Hotlines and Whistleblower Mechanisms

    Auditing and Monitoring

    Proactive Data Analysis – Continuous and Retrospective Analysis (See also as special topic)

    Internal Audit

    RESPONDING TO ALLEGATIONS OF FRAUD AND MISCONDUCT

    Introduction

    Investigating Allegations of Fraud and Misconduct

    Key Elements of an Investigation

    Internal v. External Investigations

    Internal Investigation Protocols

    Role of the Independent Investigator

    Use of Technology in an Investigation

    Recovery, Preservation and Analysis of ElectronicallyStored Information (See also as special topic)

    Cross-Border Investigations

    Enforcement and Accountability

    Enforcement

    Accountability

    Remediation, Disclosure, and Asset Recovery

    Control Remediation

    Asset Recovery

    Insurance Claims

    Disclosures

    Corporate Integrity Agreements

    Deferred Prosecution / Independent Monitoring

    SPECIAL TOPICS I – CORRUPTION AND BRIBERY

    Background and Regulatory Overview (incl. FCPA)

    Recent Enforcement Penalties

    Prevention

    Elements of an Anti-Corruption / Anti-Bribery Program

    Detection

    Corruption and Bribery Red Flags

    Response

    Anatomy of an FCPA Investigation – A Case Study

    SPECIAL TOPICS II – MONEY LAUNDERING

    Background and Regulatory Overview

    Recent Enforcement Penalties

    Prevention

    Elements of an Anti-Money Laundering Program

    Detection

    Money Laundering Red Flags

    Response

    Anatomy of a Money Laundering Investigation – A Case Study
  • A Comprehensive "C-Level" Guide to Preventing and Responding to Fraud and Misconduct

    Maintaining and enhancing the integrity of an organization in a global, regulated, and digital environment has become an increasingly complex and difficult challenge for business leaders. Despite major legislative and regulatory reforms over the past decade, the headlines are replete with instances of corporate misdeeds. Indeed, nearly two-thirds of executives surveyed by KPMG reported that fraud and misconduct were significant risks in their industries, and a third of these executives expected fraud or misconduct to rise in their organizations within the year.

    Managing the Risk of Fraud and Misconduct is an A-to-Z guidebook for business leaders who are looking for an integrated and comprehensive approach for cutting through the complexities in today’s environment. This solution driven book provides insights from top experts who walk you through proven approaches to customize a strategy for preventing, detecting, and responding to fraud and corruption by building a culture of ethics and integrity.

    Managing the Risk of Fraud and Misconduct will help business leaders to stay a step ahead of tomorrow’s demands by providing guidance on how to:

    • Assess your organization’s vulnerability to fraud and misconduct, and design and implement controls to prevent, detect, and respond to these occurrences
    • Address increased regulatory enforcement and enhanced scrutiny
    • Preserve and create value from corporate governance and compliance programs
    • Use technology and data analytics to mitigate fraud and misconduct risks
    • Evaluate the ongoing effectiveness of your compliance program