The American public and Congress are now demanding significant improvements in the detection of fraud in a financial statement audit. Now, more than ever, auditors need practical guidance for minimizing the risk of audit failures resulting from insufficient detection of fraud. Statement on Auditing Standards (SAS) 99: Consideration of Fraud in a Financial Statement Audit, gives U.S. auditors expanded guidance for detecting material fraud. It is expected to substantially change auditor performance, thereby improving the likelihood that auditors will detect material misstatements due to fraud. The standard reminds auditors that they must approach every audit with professional skepticism and not assume that management is honest. It puts fraud at the forefront of the auditor’s mind.