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Report: To Deter Fraud, Companies Should Focus on Complex Accounting Areas

Improved accounting policies and internal controls are essential for companies eager to reduce the number of financial restatements and deter fraud activity, according to new research from the Anti-Fraud Collaboration and cited by PRWeb (March 16). National Association of Corporate Directors President and CEO Peter Gleason comments, "The sharing of leading governance practices is an essential element of effective board leadership. While this report is an important guide for all corporate directors, it will be especially of interest to our public company audit committee members." Titled "Addressing Challenges for Highly Subjective and Complex Accounting Areas," the report has compiled leading-practice recommendations from the various corporate directors, C-suite executives, auditors, and regulators who attended a couple of workshops last year. The two sessions explored ways to help improve financial reporting and stem fraud.

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