Accounting Fraud


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Accounting Fraud

Any act or attempt to falsify an accounting statement for financial gain. A clear example of accounting fraud is the act of deliberately overpricing a company's assets in order to drive up its share price. Another example is filing bankruptcy to avoid debt, rather than because of financial hardship. One of the biggest accounting frauds in history occurred during the Enron scandal in 2001.
References in periodicals archive ?
of the Americas has reached an 11 billion yen ($92 million) out-of-court settlement in Japan with institutional investors over accounting fraud allegations.
On September 25, 2014, the Securities and Exchange Commission("SEC") charged Saba Software and two of its former executives with committing accounting fraud involving the falsification of timesheets in order to reach quarterly targets.
organizations that reported economic crime experienced accounting fraud in 2009.
Last month, the Securities & Exchange Commission (SEC) announced a new task force that will be on the lookout for companies using aggressive accounting that might suggest financial reporting or accounting fraud.
MANAMA: Caterpillar, the world's largest maker of construction equipment, yesterday posted a 55 per cent drop in quarterly profit due to a charge connected with accounting fraud at a Chinese subsidiary and weak demand among its dealers.
The companies are under investigation by the Securities and Exchange Commission for 'potential accounting fraud against US investors'.
Lax regulations related to executives convicted of white collar crime are a key flaw in corporate governance in Japan, Fitch Ratings says, a point highlighted by the recent arrest of Olympus executives over allegations of accounting fraud.
Accounting fraud typically lasts two years from start to detection and nearly all perpetrators are first-time offenders.
The Kanebo revelation ranked as the largest accounting fraud reported in Japan.
Designed for fraud investigators and auditors, the text contains an introduction to fair value accounting fraud followed by discussion of asset-based and liability-based schemes, other fair value accounting fraud issues, and detection of fair value accounting fraud.
A federal court has approved the distribution of $843 million to more than 257,000 harmed investors stemming from an American International Group SEC accounting fraud enforcement action.