Art Original
Fraud Auditing and Forensic Accounting
The Association of Certified Fraud Examiners (ACFE) did an empirical study
in 2009 on the effect of the weak economy on the number of frauds being
detected by CFEs, entitled ‘‘Occupational Fraud: A Study of the Impact of an
Economic Recession.’’ Based on the results of the responses of 507 CFEs, more
than half indicated that the number of frauds had increased since the recession
began (37.3 percent slight increase, 18.1 percent significant increase). About
49 percent also saw an increase in the dollar amount of the losses due to fraud.
Obviously, and empirically evident in the ACFE study,
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