Your Antifraud Program, Will It Pass the Test?

Based on the new auditing standard, SAS 99-Consideration of Fraud in a Financial Statement Audit, your auditor is now required to assess your Antifraud program. The new auditing standard, which is part of the AICPA’s new antifraud and corpoarate responsibility program, does a good job of telling the CPA’s what they should be doing during an audit to consider the risk of material misstatement to the financial statements due to fraud, but what about management’s role?

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