Accounting Irregularities And Financial Fraud

An indispensable 'how-to' book on dealing with, and preventing, a professional disaster. It teaches the origins of accounting irregularities, how fraud goes undetected, what to do when problems surface, and how to prevent inconsistencies. All relevant material is covered and includes real-world instances of financial fraud. Includes a practical FREE CD-ROM!

Accounting irregularities are at the heart of those kinds of frauds that hit financial statements and include misstatement, misclassification as well as misrepresentation. This book provides an in-depth practical reference for those professionals who need to understand, prevent and combat against accounting irregularities in financial statements.

Step-by-step guidance for board members and executives on preventing and detecting accounting fraud In the wake of highly publicized allegations of accounting irregularities and fraudulent financial reporting that are shaking up today's corporate community, Financial Fraud Prevention and Detection provides a step-by-step guide to how these crises can envelop a company and how to prevent them from happening in the first place. It is written for almost everyone involved: outside directors, audit committee members, senior executives, CFOs, CPAs, in-house lawyers, and outside law firms. Provides a blueprint for Fraud Prevention and Detection for corporate executives Presents step-by-step guidance to corporate boards and C-suite executives on managing the threat of accounting fraud Prepares directors and executives for the possibility of accounting irregularities Answers the question of how accounting fraud starts—and grows With solid strategies for prevention of accounting fraud as well as a process to follow when fraud has been discovered, Financial Fraud Prevention and Detection vividly explores the corporate environment that causes fraud, how it spreads, the kind of crises it can create for a company, and the best ways to deal with it.

Called to Account traces the evolution of the global public accounting profession through a series of scandals leading to voluntary or mandated reforms. Ever entertaining and educational, the book describes some of the most audacious accounting frauds of the last 90 years, and identifies the accounting standards and legislation adopted as a direct consequence of each scandal. While retaining favorite chapters exposing the schemes of "Crazy Eddie" Antar and Barry "the Boy Wonder" Minkow, this fourth edition includes new material describing the accounting problems at Carillion, Wirecard and Luckin Coffee. Students will learn that financial fraud is a global problem, and that accounting reform is heavily influenced by politics. With discussion questions, and a chart mapping each chapter to topics covered in popular auditing textbooks, together with supplemental PowerPoints for instructors, Called to Account is the ideal companion for classes in auditing, fraud examination, advanced accounting, or professional responsibilities.

Financial reporting frauds and earnings manipulation have attracted high profile attention recently. There have been several cases by businesses of what appears to be financial statement fraud, which have been undetected by the auditors. In this project, the main purpose is to focus on the nature of financial statement fraud, and fraud schemes regarding to financial statements. The project also discusses common techniques used to detect financial statement frauds. Two cases of the fraudulent financial statements of Enron and WorldCom are analysed.

Called to Account traces the evolution of the global public accounting profession through a series of scandals leading to voluntary or mandated reforms. Ever entertaining and educational, the book describes 16 of the most audacious accounting frauds of the last 80 years, and identifies the accounting standards and legislation adopted as a direct consequence of each scandal. This third edition offers expanded coverage of the Global Financial Crisis and international auditing. While retaining favorite chapters exposing the schemes of "Crazy Eddie" Antar, "Chainsaw Al" Dunlap, and Barry "the Boy Wonder" Minkow, new chapters describe the accounting problems at Lehman Brothers, Colonial Bank, and Olympus. Students will learn that financial fraud is a global problem, and that accounting reform is heavily influenced by politics. With discussion questions and a chart mapping each chapter to topics covered in popular auditing textbooks, Called to Account is the ideal companion for classes in auditing, fraud examination, advanced accounting, or professional responsibilities.

Bringing light to the dark side of business The number of high-profile accounting scandals is increasing. Accounting fraud is a real threat to modern business. The damage may be devastating, both financially and reputationally. No company – big or small – is immune to risk. The need for fraud prevention is critical. In this casebook, with forty-four prominent examples drawn exclusively from real-world fraud cases, Klaus Henselmann and Stefan Hofmann provide comprehensive and crucial knowledge about the topic of accounting fraud: - Unparalleled insights on the scams used by corporate executives to perpetrate accounting fraud - In-depth coverage of the scandalous events at major corporations that have caused so much panic and trauma throughout the world - A thorough examination of the circumstances leading to these corporate governance fiascos and public relations disasters - ?Useful practice aids for fraud-fighters, including a schedule of early warning signs, an “ethics barometer”, and an inquiry guide for fraud interviews This book is an invaluable resource to senior executives, financial officers, board members, audit committee members, auditors, attorneys, investors and many others. A must-read for anyone who cares about compliance and corporate integrity!