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- Title
Financial Fraud Study Shows Patterns.
- Abstract
This article reports on a study conducted by the Deloitte Forensic Center on hundreds of United States Securities and Exchange Commission (SEC) enforcement releases between 2000 and 2006. The analysis of over 1300 financial statements revealed the most prevalent form of financial fraud was revenue recognition with the frequent addition of manipulated financial statement items, improper disclosures and asset misappropriation. Fraud schemes were at the highest levels in 2003 with the average time elapsed between fraud initiation and SEC enforcement actions was 4.7 years.
- Subjects
UNITED States. Securities &; Exchange Commission; MISLEADING financial statements; FRAUD; ECONOMIC crime; CORPORATION reports; ASSETS (Accounting) -- Law &; legislation; MANAGEMENT of business records
- Publication
Financial Executive, 2007, Vol 23, Issue 7, p15
- ISSN
0895-4186
- Publication type
Article