Please enable JavaScript.
Coggle requires JavaScript to display documents.
TOPIC 8 : FINANCIAL STATEMENT FRAUD - Coggle Diagram
TOPIC 8 : FINANCIAL STATEMENT FRAUD
FSF intentional deliberate mistatemetn ro affect judgement
Intentional
Reliance
Damages
Misstatements
Pressure/Incentives
Opportunities
Rationalisation
Types
Management Fraud
Employee Fraud
General Areas
improper revenue recognition
Overstatement
Understatement
missappropriation of assets
inaapropriote disclosure
Characteristics of FSF
Misstatement
2 year life span
preamture/ ficticious revenue
CEO/CFO invlovement
no audit comittee or audit function
Prevenetion
BOD
AUdit COmittee
Management
External Auditor
Publiuc Oversight Board
Warning signs
Accounting anomoly
consistent sales even weak performance
rapid rise
significant surges
weak CG