Anti-Fraud Collaboration Announces Self-Study Ethics Program
The Anti-Fraud Collaboration (“the Collaboration”), a cooperative effort of various financial reporting organizations, recently unveiled its online program for corporate ethics. Intended for accountants, external and internal auditors, and other financial reporting professionals, the self-study program features individual courses based on the Collaboration’s successful webcast series. Each course is led by an expert panel providing various perspectives on the subject at hand. The courses include the following: Building a Fraud Resistant Organization Deterring Financial Fraud: What Else Can Be Done? How Corporate Culture Can Breed Fraud If Left Unchecked How to Improve Your Whistleblower Program and Address Impediments to Reporting. Read More.
ERC President Testifies for False Claims Act
In front of the House Judiciary Subcommittee on the Constitution and Civil Justice, Ethics Resource Center’s (“ERC”; “the Center”) Patricia Harned shared her thoughts on potential amendments to the False Claims Act. During testimony , the Center’s president told Congress that certification of private sector ethics and compliance programs are beneficial in protecting taxpayers from fraud by government contractors. She further stressed that the programs should give equal focus to both ethics and compliance, which lessens the need for enforcement caused by False Claims Act violations. Referencing the ERC’s research, Harned also noted that companies with strong ethics and compliance programs take. Read More.
Institute for Internal Auditors Issues French Standard
Announced by the Institute for Internal Auditors (“the Institute”), France has adopted a national standard for internal audit practices within the country’s government administration. Based on the Institute’s International Professional Practices Framework (“IPPF”), a globally recognized set of rules that helps audit professionals with internal auditing, the French standard features a formal code of ethics, and attribute and performance standards. Furthermore, there are plans to have the French standard part of a bigger framework containing both mandatory and non-mandatory audit guidance. With the inclusion of non-mandatory guidance in the two frameworks, it ensures internal audit rules are deemed suitable for. Read More.
AICPA Releases Updates to AAG Standards and Audit Risk Alert
Published on June 26th, the American Institute of Certified Public Accountants (“AICPA”) issued updates to five Audit and Accounting Guides (“AAG”). The AAG updates include the following: Compilation and Review Engagements now offers interpretive guidance on recent adjustments to the Statements on Standards for Accounting and Review Services for compilation and review engagements. The Construction Contractors update includes simplified versions of the Auditing Standards Board’s audit standards and Professional Ethics Executive Committee’s Ethics Code of Professional Conduct. Investment Companies reflects modifications to the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (ASU) No. 2013-08, Financial Services-Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements, the. Read More.
Topics: AAG Standards, Accounting Standards Update "ASU", American Institute of Certified Public Accountants "AICPA", Audit, Audit and Accoutning Guide "AAG", Audit Risk, Balance Sheet, disclosure, Ethics, Financial Accounting Standards Board "FASB", Investment Companies, Investment Company Act, Professional Ethics Executive Committee "PEEC", Public Company Accounting Oversight Board "PCAOB", U.S. Securities and Exchange Commission "SEC"