Original YT playout date: 6 March 2010
In these days where corporate governance is taken more seriously and more responsibility devolves on the external auditor in matters of fraud, which used to be considered more the province of the internal auditor, what new powers are auditors being given to cope with the pressure on them to uncover frauds in corporations? No new powers at all, in most countries. Only the downward pressure on fees (down over the last fifteen years by about 50% on PPP) which means that we have less time to do the additional work.
There are, however, techniques available which are similar to those used by the CIA in non-confrontational interrogation, and these techniques are available taught by ex CIA trainers and operatives. The way in which the profession is going is not the way most CPAs want it to go, but as people of integrity who cannot just pay lip service and sign a statement that we have properly investigated fraud risk and sign underneath that, there seems to be no other option that for us to start to avail ourselves of advanced techniques that really have more to do with psychology and criminology than the traditional practice of accountancy.
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Languages used: English
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