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April
Features |
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Special Millennium
Series
Entrance to the
Profession |
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The
SEC's New Auditor Independence Standards
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By Dan L. Goldwasser |
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The SEC’s new
standards on auditor independence took an unexpected twist:
Although they relax the rules on ownership of financial
interests in clients, they forward an approach to independence
inconsistent with the ISB’s work, which could be undermined
entirely. Whether ultimately beneficial or not, the SEC’s
perplexing approach makes sense only if its goal was not to
ensure independence but rather—as the author posits—to assert
its authority over the profession. (Article)
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In Search of Innovation
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| By Mary Campbell and Andrew Collins
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CPAs need not be mere ‘controllers,’
limited to enforcing the status quo, they can be agents for
innovation within an organization. The key is creating a
corporate culture that supports and rewards innovative
behavior in all its forms. (Article)
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Special Section: Developing Fraud
Expertise |
| Using Fraud
Assessment Questioning to
Detect Fraud
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By Thomas A. Buckhoff and James D. Hansen
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The
increasing opportunity for employee fraud is a significant
problem for all businesses. The fraud assessment questioning
technique can help uncover fraud: Most honest employees will
reveal fraud if asked the right questions, and the perception
of detection will deter dishonest employees from committing
fraud in the future. (Article)
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| The CFE Designation in
Perspective
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| By Robert
Braun, Shawn Mauldin, and Mandy Alfano Fischer
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Entering the
fraud field requires more than just keen skills: New
practitioners must be able to demonstrate their qualifications
and credentials. The authors’ survey of CPAs that have acquired the CFE designation indicates that the
credential is worth the investment. (Article)
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