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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 62 / 352

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© D.L. Crumbley

Joseph W. Koletar’s Opinions

“In my private-sector forensic career, I have seen few organizations that have a firm grasp on the size and components of their fraud problems. Usually they rely on incidental reports and, in turn generate incremental responses.” p. 99.

Business failures and financial statement fraud “occur because existing controls were not operating, not because they were improperly designed and installed. Often internal auditors are not permitted to do their jobs. Serious audit results impact executives, and many executives are resistant to change or feel threatened. Consequently, those who make a difference are stifled.” Barry Lipton’s letter, p. 104.

“Far too many organizations are penny wise and pound foolish in their approach to internal controls staffing and monitoring….” p. 117.

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Michael J. Comer: “The Cow grows fat under the eyes of the owner.” p. 8.

Source: J.W. Koletar, Fraud Exposed, John Wiley & Sons, 2003.

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