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- Title
IF ASSET MISAPPROPRIATION IS SO COMMON, WHY DO SO FEW PUBLIC COMPANIES DISCLOSE IT?
- Authors
Tinkelman, Daniel P.; Ya Song
- Abstract
We examine 500 public companie's three-year financial statements for 2008 through 2010, as well as the examples of filings and disclosures in Accounting Trends & Techniques from 1990-2010 and find very few examples of U. S. public companies reporting being victims of asset misappropriation fraud. We compare our findings with published reports that asset misappropriation is common and economically significant. Possible explanations for the difference in frequency include over-estimates of fraud in certain published reports, failures of companies to discover their losses, a reluctance of managers and companies to disclose unflattering news and accounting practices that do not require fraud losses to be separately reported.
- Subjects
MISAPPROPRIATION of funds; PUBLIC companies; FINANCIAL statements; EMBEZZLEMENT; KOSS Corp.
- Publication
Journal of Forensic Studies in Accounting & Business, 2012, Vol 4, Issue 1, p65
- ISSN
1942-9053
- Publication type
Article