“most fraud examiners view sarbanes-oxley as an effective tool in fraud identification, though few think it will change the culture of business leaders.”
oversight systems inc., in a report titled “the 2005 oversight systems report on corporate fraud,” says 65 percent of respondents feel sox has been ?somewhat effective? or ?very effective? in identifying incidences of financial-statement fraud. only 19 percent of those surveyed found sox to be ineffective or serve to prevent fraud identification. ?this report is full of positive news but foreshadows a real need for continued vigilance among executives toward intuitional fraud,? said patrick taylor, ceo of oversight systems. ?sox legislation and the intense focus on corporate scandals have helped battle this type of white-collar crime, but professionals seem to be worried that the c-suite might quickly lose interest in policing corporate fraud.? the full report is available as a free download at oversight systems.