Corporate Fraud Crackdown Still Needed: Study

Law360, New York (February 9, 2007, 12:00 AM EST) -- Even though the U.S. Securities and Exchange Commission and auditors have been finding more corporate fraud since the Sarbanes-Oxley Act was passed in 2002, they are still not doing enough, according to a new academic study.

The study by three business and finance professors found that the SEC, auditors and industry regulators only revealed 36% of corporate fraud cases between 1996 and 2004. After the passage of the Sarbanes-Oxley Act, which increased the duties and monitoring standards of the SEC and auditors, the organizations found slightly...
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