BusinessCompany NewsCalls for anti-fraud regulation

Calls for anti-fraud regulation

The government will only step in to push for a recognised fraud examiners' standard if the UK suffers an 'Enron-style' business disaster, according to one of the UK's leading fraud experts.

Link: Special role for accountants in Met’s fraud fight

Paul Carratu, the new president of the UK division of the Association of Certified Fraud Examiners and MD of Carratu International, is determined to lobby for a properly registered and regulated fraud investigation industry – more similar to the US situation where the CFE qualification is widely accepted as a basic requirement for fraud investigation professionals.

‘The UK market is totally unregulated – someone can come out of prison and away they go into the industry. There are no government plans to bring in an accepted qualification. It just doesn’t see an urgent need,’ he said.

Carratu has also noted much interest from accountants, either looking to take a qualification or wanting to work with fraud investigators that have a recognised qualification themselves.

‘Accountants and lawyers are crying out to go to someone with a recognised standard,’ Carratu said. ‘And accountants are always looking for new areas to work in.’

He added that the qualification will hopefully become recognised from within the fraud examination industry.

‘This year was the first time in the UK that you could sit a CFE exam. Current members will now have to go through a CPD programme, along with those that passed the exam.’

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor