How To Tell Auditors About A Fraud Investigation

Law360, New York (December 9, 2011, 1:18 PM EST) -- In January, in hundreds of conference rooms around the country, the audit committees of public companies large and small will gather. In at least one of those conference rooms, this tableau will unfold.

Halfway through the audit committee meeting, the committee chairman will turn to the general counsel for an update on a fraud investigation begun by one of the company’s inside lawyers the preceding week into, let’s say, the company’s procurement practices. The Big Four audit partner will perk up, look quizzically to the chief...
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