A combination of SOX, whistleblowers and a culture of transparency are leading to a lower percent of companies reporting accounting-related fraud in the U.S.--but unhappily bigger average losses
By Staff Writer|November 06, 2007 at 07:00 PM
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Now that the noise has died down and fewer executives are complaining about the expense and pain of implementing Sarbanes-Oxley measures, there’s news that the SOX rules appear to have played a role in slashing potentially one of the biggest risks a company can face–accounting-related fraud. According to a recent survey by PricewaterhouseCoopers, accounting fraud in the U.S. decreased by almost two-thirds–with 13% of responding companies saying they experienced it, down from 36% in 2005 when the consulting firm last conducted the poll of senior executives.
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