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Full-Text Articles in Business
Fraud Requirements In Ssars 10, Michael D. Akers, Jodi L. Gissel
Fraud Requirements In Ssars 10, Michael D. Akers, Jodi L. Gissel
Michael D. Akers
With the issuance of Statement on Standards for Accounting and Review Services (SSARS) 10, Performance of Review Engagements, which is effective for review engagements for periods ending on or after Dec 15, 2004, the AICPA Accounting and Review Services Committee requires accountants performing review engagements to make inquiries regarding fraud. Furthermore, the management representation letter must address fraud. The authors reviewed the comment letters that the AICPA received in response to the exposure draft for SSARS 10 and conducted a survey of practitioners after the statement was issued. SSARS 10 amends SSARS 1, Compilation and Review of Financial Statements, primarily …
Moha Computer Services Limited: A Fraud Case, Srinivasan Ragothaman
Moha Computer Services Limited: A Fraud Case, Srinivasan Ragothaman
Faculty Publications
This article describes the implementation of a “Fraud case study” in an undergraduate auditing class. The author developed an instructional case based on the financial statement fraud that occurred at Satyam Computer Services Limited (Satyam) in India. Satyam is the largest corporate fraud ($1.5 billion) in India that came to light in 2009. Ironically, Satyam in Sanskrit means “truth”. This teaching case exposes students to several auditing-related concepts: 1) corporate governance issues; 2) financial statement fraud; 3) fraud auditing (SAS No. 99); 4) ethical reasoning and utilitarian principles; 5) internal control evaluation (AS 5); and 6) regulation. This case is …
A Descriptive Comparison Of Two Sources Of Occupational Fraud Data, George L. Hunt
A Descriptive Comparison Of Two Sources Of Occupational Fraud Data, George L. Hunt
Faculty Publications
The propose of this study was to determine if the data contained in the Internal Auditor Roundtable and Fraud Finding columns are consistent with data reported in the ACFEs Report to the Nation. Cases of fraud reported in the Internal Auditor columns were analyzed, summarized, and compared to the data contained in the Report to the Nation. The results show significant similarities between the two data sources.
Can Using The Internal Audit Function As A Training Ground For Management Deter Internal Auditor Fraud Reporting?, Christopher K. Eller
Can Using The Internal Audit Function As A Training Ground For Management Deter Internal Auditor Fraud Reporting?, Christopher K. Eller
Theses and Dissertations
This study examines the effects of using the internal audit function as a training ground for management and fraud magnitude on internal auditor fraud reporting decisions. Using a 2x2 between-participants experiment, the current study manipulates the use of the internal audit function as a management training ground (used as a training ground vs. not used as a training ground) and fraud magnitude (large fraud, defined as 30 percent of net income vs. small fraud, defined as one percent of net income). The results indicate that internal auditors may be less likely to report a fraud to their superior when the …
Corporate Revenue Miscalculations & The Impact On Stakeholders, Karen Cascini, Alan L. Delfavero, Ryan Bezner
Corporate Revenue Miscalculations & The Impact On Stakeholders, Karen Cascini, Alan L. Delfavero, Ryan Bezner
WCBT Faculty Publications
Corporate earnings restatements are regarded as one of the most significant issues in accounting today. While there are various factors that can influence profitability, revenue is the key contributor to a business’ net income. During the 2000s, a multitude of domestic and multinational corporations faced significant issues with their revenue recognition practices. Although the investing public might regard any revenue restatement as laden with possible fraud, this is not always the case. Multinational firms face dual accounting systems, such as U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). Currently, similarities and differences between the accounting systems …