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Corporate Governance & Fraud Risk Management
book

Corporate Governance & Fraud Risk Management

by Balwinder Singh
January 2014
Intermediate to advanced content levelIntermediate to advanced
92 pages
3h 17m
English
Pearson Education India
Content preview from Corporate Governance & Fraud Risk Management
18 | Chapter 2
to over-stating of prots in the nancial year im-
mediately before the IPO. This additional prot
was added to reserves and surplus, which was
used to issue 6.5 million bonus shares to the
promoters of the company. This was done by
deferring the expenditure, which should have
been charged in the nancial year in which the
matching revenue was accounted. If the pro-
moters had not issued bonus shares to them-
selves, their share holding would have come
down to 26.3 percent after the IPO, whereas
thorugh this manipulation and deviation from
accounting standards, the promoters retained
share holding of 68 percent, thus retaining f ...
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Publisher Resources

ISBN: 9789332540866