By John Frank
Protiviti contributing writer
The Sarbanes-Oxley Act was enacted in reaction to a wave of corporate scandals. It aims aim to prevent future fraud by holding management more responsible for the accuracy of financial statements and corporate financial reporting. Companies today must implement fraud prevention and detection compliance programs under SAS-99 of Generally Accepted Accounting Principles. Many people question if these programs can be 100% effective. This article discusses common mistakes made in detecting fraud and warning signs that companies should be aware of to increase the effectiveness of fraud prevention and detection programs.