The Hubbard Award: Sophia Carlton, CFE, and James Ruotolo, CFE

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The Hubbard Award is named after the late ACFE Regent Emeritus and professor of accountancy at the University of Nebraska, Dr. Thomas Hubbard. The award is given for an outstanding work published in Fraud Magazine during the past year.

The winning article this year was entitled, “Best defense is a good offense: Anti-Fraud Playbook provides practical, actionable guidance” by Sophia Carlton, CFE, and James Ruotolo, CFE. Congratulations, Sophia and James! (Below is an excerpt from the article.)

Fraud is like the proverbial iceberg. The bulk of fraud risk is unidentified and lurking beneath the surface. Organizations can and should take steps to proactively reduce their risk and minimize the impact when fraud does slip through the cracks. An effective fraud risk management (FRM) program enables organizations to know where they are vulnerable and how to take control.

Why we developed the Playbook

The ACFE/Committee of Sponsoring Organizations of the Treadway Commission (COSO) Fraud Risk Management Guide is a tremendous resource for helping organizations establish a strong fraud risk framework. The 2016 guide is designed to serve as best-practice guidance for organizations to follow in addressing COSO’s 2013 Internal Control – Integrated Framework fraud risk assessment Principle 8. However, implementing all the best practices in the guide can be daunting.

The ACFE and Grant Thornton published the Anti-Fraud Playbook (also see ACFE.com/fraudrisktools) to provide the fraud-fighting community and organizations across the globe with practical, actionable guidance. The Playbook draws on insights from the Fraud Risk Management Guide and seeks to clarify and operationalize its concepts.

The Anti-Fraud Playbook provides easy-to-use tools and templates to help your organization no matter your efforts. Whether your organization is just beginning its anti-fraud journey or if you’re looking to enhance your fraud risk management (FRM) practices, the Anti-Fraud Playbook can help.