From The President

By Toby J.F. Bishop, CFE, CPA, FCA

The global fight against fraud is moving ahead. Several recent events have illustrated for me just how far we've come in the past few years in the fight against fraud. It's a healthy exercise to step back and see how much has been achieved.
As I write this, I've just finished leading a fraud prevention workshop for people from many nations working at an international non-profit entity. During the workshop, I referred to a book written by the ACFE's first president, Dr. W. Steve Albrecht, and two other experts.

"Fraud: Bringing Light to the Dark Side of Business," published in 1995 (out of print but available used), includes in its final chapter a description of what was then a leading-edge process for fighting fraud - incorporating continuous improvement techniques that identified and applied more lessons learned from fraud incidents. The chapter included a circular diagram (Figure 17.2) illustrating the new improved anti-fraud process the authors advocated. That one page, which contained the essence of the book, was worth many times the cost of the entire work.

As I reviewed that diagram with the workshop participants, they suggested updates such as formally stating the organization's values as the foundation element of an anti-fraud program. And they offered new program elements like fraud risk assessment, up-front implementation of world-class anti-fraud controls, and a regular program impact evaluation.

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