"Survey: Fraud Is Up, Despite SOX"

By WebCPA: The Sarbanes-Oxley Act hasn't helped in the long-running battle against corporate fraud, according to a recent survey of certified fraud examiners -- a staggering 76 percent of whom reported that fraud is more prevalent today than five years ago.

The 2007 Report on Corporate Fraud, conducted for governance software vendor Oversight Systems Inc., noted that that was up nine percentage points from its survey in 2005, and that a mere 3 percent of respondents felt that fraud was less prevalent, down from 7 percent in 2005.

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Source: WebCPA, 12 June 2007. © 2007 WebCPA and SourceMedia, Inc. All rights reserved.