November 2012
Beginner
288 pages
7h 38m
English
Content preview from Financial Statement Fraud: Strategies for Detection and Investigation
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PART FIVE
Detection and Investigation
UNDERSTANDING HOW FINANCIAL STATEMENT FRAUDS are perpetrated is the most important consideration in detecting these schemes. And that has been the sole focus of Parts I through IV. In this part, we turn our attention to other aspects of detection and investigation, including:
- Understanding the motives behind financial statement fraud, so that its warning signs can be recognized early
- Recognizing the red flags of financial reporting fraud
- Using a variety of ratios and other analytical tools as elements of a financial statement fraud detection program
- Other procedures that can reveal the existence of fraud
- Addressing the issue of intent—is a misstatement in the financial statements merely an honest misstate, an overly aggressive interpretation of an accounting standard, or an intentional act to commit fraud?
- Assessing (or, for the auditors, minimizing) auditor liability in situations in which financial statement fraud occurs
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