On Fraud and CPAs

BY MARK R. KOLMAN

I enjoyed reading “To Catch a Thief” ( JofA, Mar.00, page 43) because the information is presented in a way that’s particularly accessible to CPAs. Also, the article underscores the gap between the limited work that CPAs can do to find fraud and what people believe they can do.

Most people outside the public accounting profession would assume the interrogation skills described in the article are near-instinctive abilities held by every CPA and that he or she is an expert in finding and investigating fraud. In reality, as a profession, we CPAs do not have the skills or the focus needed to recognize the human indicators of fraud or to properly investigate them.

The summary of fraud interview questions designed to uncover possible areas of concern is the type of information missing from most accounting literature, including that which deals with the CPA’s responsibility for detecting fraud.

Thanks for a good “written seminar.”

Mark R. Kolman, CPA, CIA, CFE
St. Petersburg, Florida

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.