ForThoughts 13: The Fraud Enforcement and Recovery Act “FERA”Issues in Forensic Accounting |
Increased prosecution of fraud is one of the government’s goals with the Fraud Enforcement and Recovery Act (FERA), signed into law by President Obama in May 2009. FERA is a three-pronged attack on mortgage fraud and related wrongdoing. But it contains features that may end up impacting a much broader array of companies and executives. It includes:
- Strengthened legislation
- Nearly $500 million in additional funding for fraud investigations, prosecutions and civil proceedings
- A new Financial Crisis Inquiry Commission that has subpoena power
Edition 13 of ForThoughts outlines the main elements of FERA. Authors Toby Bishop, the director of the Deloitte Forensic Center for Financial Advisory Services LLP, and Donna Epps, national leader of the Anti-Fraud Consulting group of Deloitte Financial Advisory Services LLP, discuss why public companies and private businesses may be more likely to find themselves the subject of investigations by the FBI and Department of Justice in this new enforcement environment.
Learn more by reading Edition 13 of ForThoughts, available for download below.
Related Content:
Book: Corporate Resiliency: Managing the Growing Risk of Fraud and Corruption
As used in this document, ‘Deloitte’ means Deloitte LLP (and its subsidiaries). Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
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Fraud Enforcement and Recovery Act “FERA”
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