Accountants don't currently learn what motivates fraudulent conduct, how to spot the signals, how to prevent fraud from occurring and much more. As it stands now, auditors are fighting a war without being taught how to recognize the enemy. Until that changes, expect more heavy casualties.

Joseph Wells

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Just ask the people holding accounting degrees. 'How much did you learn about fraud in college?' The shocking answer: little or nothing.

— Joseph Wells

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At the SEC, the search for fraud was left largely to others -- private auditors and boards of directors, which were either doodling at their desks or were engaged in conflicts of interest that made it unlikely they would ever bark at corporate fraud or crimes,

— Joseph Lieberman

The cost of settling private class action securities fraud litigation continues to rise. The price of poker is going up.

— Joseph Grundfest

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The white man's victory soon became complete by fraud, violence, intimidation and murder.

— Ida B. Wells

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Under-the-table deals, sham transactions and the like can be easily concealed. Holding CPAs to a standard that requires them to detect all material fraud puts them in a no-win situation and they know it. Still, auditors can certainly do a much better job than they've done in the past.

— Joseph Wells