AICPA addresses fraud in audit committee guidance.

• Position: National

To help U.S. audit committees understand one of the most significant fraud risks--management override of internal controls--the AICPA recently issued new guidance.

Management Override of Internal Controls: The Achilles' Heel of Fraud Prevention--The Audit Committee and Oversight of Financial Reporting is available free of charge and may be found on the Audit Committee Effectiveness Center page of the AICPA Web site at www.aicpa.org/audcommctr/.

"Our guidance outlines specific steps audit...