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New approaches to fraud deterrence.

Business Credit

| February 01, 2005 | Wells, Joseph T. | COPYRIGHT 2005 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Call me a skeptic. Maybe it's because I've investigated a couple of thousand fraud cases over a career now entering its fourth decade. Perhaps it's because questioning is one of a CPA's most valuable talents. While I believe that, as a profession, we're moving in the right direction, I'm convinced we still have miles to go. The auditing profession's current approach to fraud detection--as well-intended as it is--won't have the impact the public expects until auditors and their firms are willing to invest in improved fraud deterrence and detection skills and resources.

In my view, even with SAS no. 99, Consideration of Fraud in a Financial Statement Audit, we're ...

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