THE ASB ISSUED AN EXPOSURE DRAFT designed to expand audit procedures to address material financial statement fraud. Comments on the proposed changes are due by May 31, 2002. THE ED EMPHASIZES ...

he audit standard issued by the AICPA auditing standards board (ASB) in October 2002—SAS no. 99, Consideration of Fraud in a Financial Statement Audit —does something no audit standard has ever done.

The American Institute of Certified Public Accountants (AICPA) board has released an exposure draft of a new Statement on Auditing Standard (SAS) that addresses auditors’ responsibilities regarding ...

U.S. public companies lost a median of 1.06% of their annual revenue to known frauds last year, amounting to billions of dollars, according to a new report. Processing Content The report, released ...

Does your organization focus on proactive fraud prevention? The answer may surprise you, for as an auditor, I find that most organizations fail to get serious about prevention until fraud happens to ...

Adults age 60 and older are more likely to report losses of $100,000 or more due to financial fraud, according to the Federal Trade Commission. Those incidents account for 68% of the $2.4 billion in ...

There's still a lot of challenges to get to that point of having the reliable data at any point in time," Dawn Simpson said.

Online fraud is spiraling, costing businesses tens of millions each year, and financial institutions are waking up to the reality that fraud is no longer just a compliance issue or a customer service ...