SAS 99 and Fraud Detection

Abstract:     
Over the past decades, fraud has been the major issue facing the Accounting Profession in the United States and all over the World. Financial Statement Fraud causes both economic and social consequences in our society. This paper includes a discussion of the four recent fraud cases: Enron, WorldCom, Tyco International and the role of Arthur Andersen. This paper also includes a summary of the Statements on Auditing Standards (SASs), the procedures required to implement SAS 99 and the Sarbanes-Oxley Act of 2002 (SOX). The objective is to highlight the major impact of SAS 99 and SOX on the Financial Statement Audits and how it could be effective in assisting auditors in the discovery of frauds.

Number of Pages in PDF File: 17

Keywords: Audit, Financial Statement, Fraud, SAS 99, Sarbanes- Oxley Act of 2002

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