Nonfungible tokens (NFT) are virtual records of ownership of either physical assets or digital assets, such as digital artwork, concert tickets, or access to games.…
ICYMI | Whistleblowing Intentions for Internal Auditors
Why Psychological Safety Is Critically Important
In Brief Financial fraud represents a serious threat to financial markets, and it has long been noted that whistleblowing can be an important deterrent to…
Whistleblowing Intentions for Internal Auditors
Why Psychological Safety Is Critically Important
In Brief Financial fraud represents a serious threat to financial markets, and it has long been noted that whistleblowing can be an important deterrent to…
Mind the GAAP
The Evolution of the Auditor’s Role and the ‘Fraud Expectation Gap’
Newly minted CPAs typically have limited hands-on auditing experience. They almost always have no training in specialty areas, such as forensics. A term now commonly…
In PricewaterhouseCoopers's 2018 Global Economic Crime and Fraud Survey, fraud is identified as “the biggest competitor you didn't know you had,” which is an interesting way of…
In Brief Financial statement fraud is often thought of as an “inside job,” something perpetrated by the management or employees of the organization being audited.…
In Brief Fraud continues to be a pervasive problem for businesses across the world. Nevertheless, most business ethics programs are compliance driven and thus fail…
Editor's Note: This article is the first in an occasional series planned for this, our 90th year of publication, wherein the editors will look in the Journal's past…
I particularly enjoyed Mark Nickerson's article on fraud possibilities in your annual technology issue (“Fraud in a World of Advanced Technologies,” June 2019, http://bit.ly/2LJedBZ). I wager…
ICYMI | Fraud in a World of Advanced Technologies
The Possibilities are (Unfortunately) Endless
In Brief For many years, internal controls have been the focus of auditors' risk assessment as they seek to attest that the control environment is…
Fraud in a World of Advanced Technologies
The Possibilities are (Unfortunately) Endless
In Brief For many years, internal controls have been the focus of auditors' risk assessment as they seek to attest that the control environment is…
Rationalizing Fraud
How Thinking Like a Crook Can Help Prevent Fraud
In Brief The well-known fraud triangle framework includes three distinct components—perceived pressures, perceived opportunities, and rationalizations—but until recently very little was known about perpetrators' rationalizations.…
The Risks of Fraud Collusion
Are We Only Looking at Lit Corners?
The Association of Certified Fraud Examiners (ACFE), in reporting on collusion in its 2018 Report to the Nations(http://bit.ly/2BIITfH), indicates that there is a direct correlation between…
New Revenue Recognition Guidance and the Potential for Fraud and Abuse
Are Companies and Auditors Ready?
In Brief Now that FASB's new revenue recognition standard is effective, it is worth considering how well the guidance meets the goals originally set by…
ICYMI | Opinion: AICPA Proposal Raises the Ethical Bar
Incorporating International Standards into the Code of Professional Conduct
In February 2017, the AICPA's Professional Ethics Executive Committee (PEEC) agreed to propose modifications to the Code of Professional Conduct that would require certain actions…
Clarifying Auditors’ Responsibility for Fraud
Commercial Lenders’ Perceptions of Changes to the Audit Report
In Brief The PCAOB recently issued changes to the audit report, one of which explicitly clarifies auditors’ responsibilities for fraud by adding the phrase “whether…
Audit vs. Fraud Examination
What’s the Real Difference?
In Brief Contrary to what many think, the typical audits of financial statements do entail certain responsibility for the detection of fraud. The author examines…
Fraud prevention is a critical and ongoing consideration for companies all over the world. According to the 2016 Report to the Nations on Occupational Fraud and…
Trends in SEC Enforcement
What CPAs Need to Know
In Brief With the SEC's enforcement of laws against fraud and other financial wrongdoing at its highest in recent memory, CPAs must be vigilant in…
Today’s Fraud Risk Models Lack Personality
Auditing with ‘Dark Triad’ Individuals in the Executive Ranks
In Brief Recent behavioral science research on abnormal personality types may have a major impact on the practice of auditing. This article discusses the possible…