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In this Insights In Focus episode, we take a look at the upward trend in instances of fraud: what factors make it easier for fraudsters, and what can the profession do about it?

Instances of fraud have been on the rise since 2019, particularly during the pandemic, as economic criminals exploited new weaknesses created as a result of the rapid introduction of COVID-19 measures.

Last month, the UK government issued its feedback statement on audit and corporate governance reform, which outlined how auditors and businesses should monitor and respond to potential instances of fraud.

What’s the real picture when it comes to the prevalence of fraud? We look at the common types of fraud, the challenges of trying to combat it, the red flags that accountants might come across, and how professionals should respond.

All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members. This podcast was recorded during lockdown and followed all social-distancing guidelines.