Ralph Q. Summerford, president of Forensic Strategic Solutions, was quoted in Accounting Today on June 19, 2017, regarding auditors’ increased focus on and responsibility for fraud detection. In the article, Mr. Summerford discussed auditors’ responsibility to detect fraud, legal and professional standards set by the Public Company Accounting Oversight Board (PCAOB), potential cybersecurity issues, and risk management in regards to fraud detection.
Mr. Summerford is speaking on this matter at the 28th Annual Association of Certified Fraud Examiners (ACFE) Global Fraud Conference on June 20, 2017, in Nashville, Tennessee. At the conference, Mr. Summerford will explain to attendees the requirements of the auditor’s authoritative guidance and rules, where fraud detection responsibilities exist under a code of professional conduct, and how a court or trier of fact views the responsibility of the auditor.
You can view the article here.