The Journal of Forensic & Investigative Accounting published an article titled, "Electronic Audit Confirmations: Leveraging Technology to Reduce the Risk of Fraud". The article, written by Steven A. Solieri and Joan Hodowanitz, provides six examples of audit confirmation frauds and illustrates how easy it is to deceive auditors and regulators when relying on traditional, paper-based audit processes rather than the electronic confirmation process.
Furthermore, the article points out that technology has come a long way since the paper-based confirmation process was developed in the nineteenth-century, and that online audit confirmations help auditors detect financial statement fraud.
To read the article in its entirety, click here.
