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Despite stringent legislation aimed at combating fraud such as the Foreign Corrupt Practices Act (FCPA) and the Sarbanes-Oxley Act – and despite enforcement efforts by the Securities and Exchange Commission (SEC) and the Department of Justice – financial statement fraud remains a public concern.
But just what types of fraud is the SEC describing in its enforcement actions? In what industries are frauds most prevalent?
To tackle these questions, Kim Andreasen, senior editor of the Economist Intelligence Unit, moderates a discussion with Albert Lilienfeld, partner, Deloitte Financial Advisory Services LLP, and David Becker, partner, Cleary, Gottlieb, Steen & Hamilton LLP, about the findings from a recent study conducted by the Deloitte Forensic Center titled “Ten Things about Financial Statement Fraud – 2nd Edition.” View the entire discussion in the video player to the right.
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