Fraud and Ethics External Resources

November 2013

SEC and DOJ Resource Guide to the U.S. Foreign Corrupt Practices Act
The Criminal Division of the U.S. DOJ and the Enforcement Division of the SEC has made available a resource guide pertaining to the U.S. Foreign Corrupt Practices Act (FCPA) that companies of all sizes may find helpful in navigating compliance with the FCPA.

SEC Sets Priorities for the 2014 National Examination Program
The (SEC’s) Office of Compliance Inspections and Examinations has published its National Examination Program (“NEP”) priorities for 2014 to communicate with investors and registrants about areas that are perceived by the staff to have heightened risk, and to support the SEC’s mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. These priorities are aligned with the SEC’s mission by seeking to improve compliance, prevent fraud, inform policy, and monitor firm-wide and systemic risk. For more information, view the SEC’s National Exam Program Priorities for 2014.

Responsibility for Deterring and Detecting Financial Statement Fraud
The Anti-Fraud Collaboration has released a publication “Closing the Expectation Gap in Deterring and Detecting Financial Statement Fraud: A Roundtable Summary,” which summarizes a roundtable discussion held in April 2013 with corporate directors, financial executives, external auditors, and internal auditors on expectations of each other’s roles in the deterrence and detection of financial reporting fraud.

SEC Targets Risk and Fraud
On July 2, 2013, the Securities and Exchange Commission (SEC) announced three new initiatives within its Division of Enforcement

Fraud Self-Assessment Tool
The March 2013 issue of Journal of Accountancy article “What are the risks?” highlights a fraud self-assessment tool designed by small business managers and CPAs for use by small businesses to evaluate fraud controls

The Anti-Fraud Collaboration
The Anti-Fraud Collaboration represents the collaborative efforts of the Center for Audit Quality, Financial Executives International, The Institute of Internal Auditors and the National Association of Corporate Directors, organizations that actively engage in efforts to mitigate the risks of financial reporting fraud.