But they fear the current atmosphere of anti-fraud vigilance might be just be a fad
A recent survey of certified fraud examiners found that most of them considered Sarbanes-Oxley to be an effective weapon against fraud, but they worry that corporate executives won't remain focused on the issue.
The survey was conducted by Oversight Systems Inc., and found that 65 percent of the examiners felt that SOX has been either a very effective or a somewhat effective tool. However, only 17 percent felt that corporate executives were likely to maintain their current level of interest in policing fraud.
Indeed, 39 percent said vigilance will be forgotten within five years, 32 percent felt that vigilance had already faded, and 12 percent said there had never really been any heightened vigilance anyway.
Others say that vigilance will remain in vogue until the next boom and bust cycle, when another wave of fraud will arise. In the meantime, the best defense is a head office that believes in strict standards.
Source: IT Compliance Institute
