Oversight Systems Inc. today announced the findings of the 2005 Oversight Systems Report on Corporate Fraud, a survey of certified fraud examiners. The report explains that most fraud examiners view Sarbanes-Oxley (SOX) as an effective tool in fraud identification, though few think it will change the culture of business leaders.
The survey results indicate that 65 percent of respondents feel SOX has been “somewhat effective” or “very effective” in identifying incidences of financial-statement fraud. Only 19 percent of those surveyed found SOX to be ineffective or serve to prevent fraud identification.
See full Press Release. Also see full Survey, in pdf format.
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