CHAPTER 6
Financial Statement Fraud
RECURRING THEMES IN FINANCIAL STATEMENT FRAUD
Financial statement fraud cases contain the following recurring themes:
- Pressure on senior management to meet financial goals
- Autocratic senior management
- Aggressive accounting practices
- Weak internal controls
- No whistleblowers
Sarbanes-Oxley was enacted as a result of a flood of financial statement scandals, but any fraud prevention program in a company has to include efforts to prevent all types of fraud. This chapter addresses financial statement fraud, with the succeeding chapters addressing asset misappropriations, ...
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