Forensic services, audits and corporate governance

California CPA, Sept, 2004

The AICPA Forensic and Litigation Services Committee is soliciting information to help develop guidance for CPAs providing forensic services.

While SAS No. 99, Consideration of Fraud in a Financial Statement Audit, provides guidance that has the potential to improve audit quality in detecting material financial misstatements, additional guidance may be needed to assist forensic accountants, audit committees, financial statement audit teams and others who use the services of forensic accountants, the AICPA says.

The goal would be to enhance the validity, reliability, consistency and transparency of such work and related results.

Comments should be received by Oct. 15, 2004. For more information, visit www.aicpa.org/members/div/mcs/exec_summ_forensic_svcs.htm.>

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