Chicago (Aug. 5, 2003) -- During the course of a fraud investigation, perception and reality might be far apart, a CPA and Certified Fraud Examiner warned attendees gathered at a fraud conference here.

"A gap exists between our initial perception and reality," Janet McHard of Meyners & Co. in Albuquerque, N.M., told attendees at the Association of Certified Fraud Examiners' Annual Fraud Conference Monday. "We call that gap 'reality bites'."

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