Seven professional associations jointly issue antifraud programs and controls for management.Seven professional associations have developed a set of recommendations specifically to help boards of directors, audit committees and management prevent and root out fraud. These recommendations are contained in a new document titled Management Antifraud Programs and Controls: Guidance to Help Prevent, Deter, and Detect Fraud, which is an exhibit to SAS No. 99, Consideration of Fraud in a Financial Statement Audit. This new document identifies the measures an organization can take to prevent, deter and detect fraud, which can range from falsified financial statements to employee theft. Antifraud programs and controls, the document maintains, evolve from creating a culture of honesty and high ethics, evaluating internal processes and controls, and developing an appropriate oversight process. Besides the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). , the Association of Certified Fraud Examiners Established in 1988 the Association of Certified Fraud Examiners is the professional organization that governs professional fraud examiners. Its activities include producing fraud information, tools and training. , Financial Executives International, Information Systems Audit and Control Association Information Systems Audit and Control Association (ISACA) is an international professional association for information system audit. ISACA is an affiliates member of IFAC[1] and IT Governance Institute. , Institute of Internal Auditors “IIA” redirects here. For IIA in decision theory, see Independence of irrelevant alternatives. Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association of more than 128,000 members with global headquarters in , Institute of Management Accountants The Institute of Management Accountants (IMA) is a professional organization headquartered in Montvale, New Jersey consisting of over 70,000 members worldwide. The IMA is dedicated to advancing the role of the management accountant and financial manager within the business , and the Society for Human Resource Management sponsored the guidance. Other organizations that participated in reviewing and offering advice include the American Accounting Association, Defense Industry Initiative and the National Association of Corporate Directors. Management Antifraud Programs and Controls can be accessed at www.aicpa.org/antifraud/management/. |
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