soxfirst
Accountants and fraud
Filed in archive Accounting by leon on November 13, 2007
30338732.jpg

What's wrong with this picture? When bean counting giant Grant Thornton asked chief financial officers and senior comptrollers whether they thought auditors were responsible for detecting any and all fraud, a whopping 82 per cent answered in the affirmative. At the same time, 62 per cent of the respondents said they thought it was possible for them to intentionally misstate their financial statement to their auditor.

The Grant Thornton survey makes sobering reading.

Especially the revelation that nearly half of these financial experts had never heard of XBRL, or eXtensible Business Reporting Language which is being hailed as the future of financial reporting. SEC chairman Christopher Cox is the chief cheer leader for XBRL.

Permalink: Accountants and fraud
Tags: Grant  Thornton  survey    fraud  XBRL  2007  accountants+fraud 
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/101311
img Addthis img Ask img Blinklist img del.icio.us img Digg img Fark img Facebook img Google img Lycos img Ma.gnolia Add this page to Mister Wong Mr Wong img Netscape img Netvousz img Newsvine img Reddit img StumbleUpon img Slashdot img Tailrank img Technorati img Wink img Yahoo

Vote for Accountants and fraud:

  • Currently 9.60/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 9.60 out of 5 vote(s) cast.
 
Subscribe
Share It
RSSrss
See all blog subscribe options
Google google
What is RSS?
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
Newsletter

TwitterFollow us on Twitter!