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AICPA To Help Start Fraud Institute

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NU Online News Service, Sept. 4, 3:15 p.m. – The American Institute of Certified Public Accountants, New York, will be working with the Association of Certified Fraud Examiners, Austin, Texas, to set up an Institute for Fraud Studies at the University of Texas at Austin.

The institute will develop investor education programs, according to Barry Melancon, the AICPA’s president.

Melancon announced the project today at a forum organized by the Yale University business school.

Melancon said his group will also introduce proposals for new anti-fraud criteria and controls; offer free training courses for directors and other corporate officials; and encourage work on new forms of financial reports that will give investors better information.

The AICPA is also developing new voluntary rules that would discuss strategies for maintaining auditor independence, Melancon says.