{"id":419,"date":"2006-11-09T09:11:13","date_gmt":"2006-11-09T14:11:13","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/2006\/11\/09\/audit-firms-suggesting-companies-be-required-to-have-forensic-audits\/"},"modified":"2012-04-24T08:28:04","modified_gmt":"2012-04-24T13:28:04","slug":"audit-firms-suggesting-companies-be-required-to-have-forensic-audits","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/audit-firms-suggesting-companies-be-required-to-have-forensic-audits\/","title":{"rendered":"Audit Firms Suggesting Companies Be Required to Have Forensic Audits"},"content":{"rendered":"<p>The six biggest accounting firms in the United States have suggested that companies should be forced to submit to forensic audits every three to five years. These types of engagements would be aimed at finding fraud.<\/p>\n<p class=\"times\">The six firms include PricewaterhouseCoopers, Deloitte &amp; Touche, Ernst &amp; Young, KPMG, Grant Thornton and BDO Seidman. They say their proposal is aimed at starting discussions about what investors should expect from auditors when it comes to fraud. (Incidentally, traditional independent audits are not designed to detect fraud, and the users of financial statements are mistaken if they think the audits will detect fraud.)<\/p>\n<p class=\"times\">One accounting educator remarked that audit firms should just change traditional audits to be &#8220;done properly&#8221; and detect fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The six biggest accounting firms in the United States have suggested that companies should be forced to submit to forensic audits every three to five years. These types of engagements would be aimed at finding fraud. The six firms include [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16],"tags":[1939],"class_list":["post-419","post","type-post","status-publish","format-standard","hentry","category-auditing-regulations","tag-forensic-audit"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-6L","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=419"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/419\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}