“If the managers, the C-level and board have good demonstrative behavior, everybody down the line will mimic that,” said Yigal Rechtman, senior manager of forensics and litigation at Grassi & Co., an accounting and business consulting service, at a New York State Society of CPAs’ forensic accounting conference yesterday. “People need to operate by example,” he said, noting that if the CFO is leaving at 3 p.m. on a daily basis, for example, that will not help a firm to have better internal controls. [CFO]
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The February gloom was broken recently by the news that the British government will be introducing reforms targeting company financial reporting and audit oversight. In truth, none of this should be a surprise. There have been several accounting scandals in recent years where the directors of various companies have been unscrupulous and their external auditors […]
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