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corporate crime
by leon on November 25, 2008
Some 12 months ago, I did a blog entry suggesting that it might be easy to pull the wool over auditors' eyes when it comes to fraud.
Now a piece in CIO Today, Investigations or Audits: Fraud vs. Innocent Mistakes reaffirms that. As journalist rebecca Tonn points out, a fraud investigation is not the same things as a financial statement audit. Even if many think it is. And there's lots of room for oversight.
Essentially, auditors look for errors, stuff that is in line with accounting standards. That's not the same as fraud which is usually detected through anonymous tips or management suspicions.
Permalink: Auditors can't beat fraud
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/138576
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