Current Trends in Fraud and its Detection

Authors:
W. Steve Albrecht;Chad Albrecht;Conan C. Albrecht
Affiliations:
Marriott School of Management, Brigham Young University, Provo, UT, USA;Jon Huntsman School of Business, Utah State University, Logan, UT, USA;Marriott School of Management, Brigham Young University, Provo, UT, USA
Venue:
Information Security Journal: A Global Perspective
Year:
2008

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Abstract

This article discusses the basic nature of fraud, including the major accounting scandals of the last decade. The article also discusses the role of auditors and if auditors should be held liable for not detecting financial statement fraud. The article examines recent standards, rules, and acts put in place after the major frauds of the 1990s and early 2000s, including Sarbanes-Oxley, new rules by the NYSE and NASDAQ, and SAS 92. Finally, the article discusses whether these new standards, rules, and acts will have an impact to deter financial statement frauds from occurring in the future.