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ISA 240, the corporate offence of failing to prevent fraud and Corporate Governance Reform – a counter-fraud time to talk
21 June 2023 Ashley Shelbrooke, HEPA and Project Specialist
We are delighted to be joined by KPMG Forensic specialists for a time to talk where we will explore the recent changes to the fraud regulatory environment and provide some thoughts on what members need to do differently to demonstrate they have adequate procedures in place to prevent and respond to fraud.
The session will cover:
ISA 240 – the revised auditing standard, which has enhanced Auditor’s responsibilities in relation to fraud and means audit teams will be undertaking additional work to meet those requirements.
The Government’s recent announcement that it intends to create the corporate offence of failing to prevent fraud (similar to the failing to prevent bribery provision in the Bribery Act 2010)
The Department of Business and Trade’s recently published Corporate Governance Reform where impacted entities will have to produce an annual Fraud Statement setting out the steps they have taken to prevent and detect material fraud.
The time to talk will take place on 17 August at 10AM via Teams and will be recorded.
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