Fraud deterrence has gained public recognition and spotlight since the 2002 inception of the Sarbanes-Oxley Act. Of the many reforms enacted through Sarbanes-Oxley, one major goal was to regain public confidence in the reliability of financial markets in the wake of corporate scandals such as Enron, WorldCom and Waste Management. Section 404 of Sarbanes Oxley mandated that public companies have an independent Audit of internal controls over financial reporting. In essence, the intent of the U.S. Congress in passing the Sarbanes Oxley Act was attempting to proactively deter financial misrepresentation (Fraud) in order to ensure more accurate financial reporting to increase investor confidence. This same concept is applied in the discussion of fraud deterrence.
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| - Fraud deterrence (en)
- Prevenzione delle frodi aziendali (it)
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| - La prevenzione delle frodi aziendali è diventato un tema importante da quando l'approvazione negli USA del Sarbanes-Oxley Act del 2012 ha imposto nuovi obblighi alle aziende. Lo scopo della normativa era quello di ristabilire la fiducia dell'opinione pubblica dopo che gravi scandali aziendali come quello di Enron l'avevano compromessa. La normativa contenuta nella Section 404 del Sarbanes-Oxley Act obbliga le società a dotarsi di un sistema di audit interno. Lo scopo è quello di garantire una sistematica azione preventiva delle frodi aziendali in modo da incrementare la fiducia degli investitori. Le metodologie di prevenzione delle frodi sono diventate molto importanti anche nelle aziende al di fuori degli Stati Uniti parallelamente all'affermarsi delle funzioni di audit interno. (it)
- Fraud deterrence has gained public recognition and spotlight since the 2002 inception of the Sarbanes-Oxley Act. Of the many reforms enacted through Sarbanes-Oxley, one major goal was to regain public confidence in the reliability of financial markets in the wake of corporate scandals such as Enron, WorldCom and Waste Management. Section 404 of Sarbanes Oxley mandated that public companies have an independent Audit of internal controls over financial reporting. In essence, the intent of the U.S. Congress in passing the Sarbanes Oxley Act was attempting to proactively deter financial misrepresentation (Fraud) in order to ensure more accurate financial reporting to increase investor confidence. This same concept is applied in the discussion of fraud deterrence. (en)
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| - Fraud deterrence has gained public recognition and spotlight since the 2002 inception of the Sarbanes-Oxley Act. Of the many reforms enacted through Sarbanes-Oxley, one major goal was to regain public confidence in the reliability of financial markets in the wake of corporate scandals such as Enron, WorldCom and Waste Management. Section 404 of Sarbanes Oxley mandated that public companies have an independent Audit of internal controls over financial reporting. In essence, the intent of the U.S. Congress in passing the Sarbanes Oxley Act was attempting to proactively deter financial misrepresentation (Fraud) in order to ensure more accurate financial reporting to increase investor confidence. This same concept is applied in the discussion of fraud deterrence. Until recently, fraud deterrence has not been specifically identified under one common definition. While it has been discussed by many authoritative sources such as the American Institute of Certified Public Accountants (AICPA) Practice Aid Series, "Fraud Detection in a GAAS Audit: SAS No. 99 Implementation Guide," (explicitly) The Committee of Sponsoring Organizations of the Treadway Commission (COSO), "Internal Control – Integrated Framework," (implicitly) and the National Association of Certified Valuation Analysts Certified Fraud Deterrence Analyst (CFD) designation (recently merged into the Certified Forensic Financial Analyst (CFFA) designation), an actual definition of the term "fraud deterrence" has been difficult to find. (en)
- La prevenzione delle frodi aziendali è diventato un tema importante da quando l'approvazione negli USA del Sarbanes-Oxley Act del 2012 ha imposto nuovi obblighi alle aziende. Lo scopo della normativa era quello di ristabilire la fiducia dell'opinione pubblica dopo che gravi scandali aziendali come quello di Enron l'avevano compromessa. La normativa contenuta nella Section 404 del Sarbanes-Oxley Act obbliga le società a dotarsi di un sistema di audit interno. Lo scopo è quello di garantire una sistematica azione preventiva delle frodi aziendali in modo da incrementare la fiducia degli investitori. Le metodologie di prevenzione delle frodi sono diventate molto importanti anche nelle aziende al di fuori degli Stati Uniti parallelamente all'affermarsi delle funzioni di audit interno. (it)
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