Scientific Annals of the „Alexandru Ioan Cuza” University of Iaşi Economic Sciences 59 (1)‚ 2012‚ 79-94 DOI 10.2478/v10316-012-0005-x FRAUD‚ A GROWING PROBLEM - CAN WE MITIGATE IT? Victoria STANCIU Academy of Economic Studies of Bucharest Bucharest‚ Romania stanciuvictoria58@hotmail.com Abstract Over the past few years the companies had to face a difficult economic climate. In this instable and sometimes unpredictable environment‚ organizations have changed their strategies‚ building
Premium Auditing Internal audit Audit
of 2002 (SOX)‚ the audit committee is vested with greater authority to oversee fi nancial reporting and the appropriation of assets. As a result‚ the audit committee is responsible for adequate supervision and reporting and for responding to: • fraud in a fi nancial statement audit; • actual‚ perceived or potential confl icts of interest; • anonymous tips and complaints; and • through interaction with general counsel‚ compliance matters such as those that relate to the Foreign Corrupt Practices
Premium Auditing Fraud Financial audit
fraudulent activity. Forensic accounting refers to the whole process of investigating a financial matter‚ including potentially acting as an expert witness if the fraud comes to trial. Although this article focuses on investigations into alleged frauds‚ it is important to be aware that forensic accountants could be asked to look into non-fraud situations‚ such as the settling of monetary disputes in relation to a business closure or matrimonial disputes under insurance claims. The process of forensic
Premium Fraud Balance sheet
25. Fraud is an intentional act involving the use of deception that results in a material misstatement of the financial statements. The two types of misstatements that are relevant to auditors are: The misstatement arising from misappropriation- this occurs when someone steals or misuses an organizations assets. Perpetrators are usually employees and occur when they gain access to cash or cash disbursement accounts and can manipulate them. Misstatement arising from fraudulent financial reporting-
Premium Auditing Financial audit Financial statements
Oliver Whit3 Collar Crimes September 3‚ 2012 Reaction Paper-1 White Collar Crime White Collar Crime is consided Fraud. That involves theft. The essence of fraud is larceny by trick; that is‚ possession of property obtained through deception. There are many kinds of fraud including false advertising‚ bankruptcy fraud‚ and criminal impersonations. But the object of frauds is always the same: to obtain property through false representations. Another category of white collar crimes can be called
Premium Fraud Theft
sector. Asset misappropriation is where the frauds involved the perpetrator employs trickery or deceit to steal or misuse an organization’s resources. The individuals committing asset misappropriation may be among the employees of an organization‚ customers or vendors of an organization‚ or may be the individuals unrelated to the victim organization. According to the KPMG Malaysia Fraud Survey Report 2009‚ 66% of the survey respondents believed that fraud is perceived to be a major problem in Malaysia
Premium Fraud
The new fraud standard‚ Statement on Auditing Standards no. 99‚ Consideration of Fraud in a Financial Statement Audit‚ is the cornerstone of the AICPA’s comprehensive antifraud and corporate responsibility program. The goal of the program is to rebuild the confidence of investors in our capital markets and reestablish audited financial statements as a clear picture window into corporate America. SAS No. 99 requires you to gather and consider a great deal of information to assess fraud risks. SAS
Premium Fraud Finance Economics
later on found out that there is no collusion happened‚ Jennifer should be liable for the fake works that she already sold. But if he finds out that there was connivance between the three‚ he may talk to Jennifer and tell her to sue the three for fraud. 4. With the information relayed to her by her friend Nelson Sabiendas‚ Jennifer Amable has grounds to believe that the works she exhibited and sold are fakes. Should she tell Nick and Amigos Trustees and the people who bought or reserved works
Premium English-language films American film actors American television actors
VOL 20 NO 157 REGD NO DA 1589 | Dhaka‚ Sunday‚ September 29 2013 Top of Form Bottom of Form http://www.fe-bd.com/index.php?ref=MjBfMDlfMjlfMTNfMV85Ml8xODUxMDM= ICT Act and freedom of expression Bangladesh is going to be the next hub of Internet outsourcing for the developed world and the young generations are preparing themselves for that. The related law also should be updated accordingly to promote education and internet business‚ writes M S Siddiqui The free flow of information‚ which
Premium Computer Fraud Computer crime
sdsu.edu/ehost/detail?sid=06d4ce2a-9e50-4688-9f23-4a14a04a593e%40sessionmgr4005&vid=1&hid=4209&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=buh&AN=17175244 Famous Financial Frauds in Bankruptcy. Alan V. Funk‚ Gil A. Miller‚ Burk W. Reynolds. GLBC 10-K. March 6‚ 2005 & 2006 “Major Financial Reporting Frauds of the 21st Century: Corporate Governance and Risk Lessons Learned”‚ Hugh Grove & Elisabetta Basilico* “Journal of Forensic & Investigative Accounting”‚ Vol. 3‚ Issue 2‚ Special
Premium Revenue Arthur Andersen Fraud