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Full-Text Articles in Business
Finding Auditors Liable For Fraud: What The Jury Heard In The Phar Mor Case, David M. Cottrell, Steven M. Glover
Finding Auditors Liable For Fraud: What The Jury Heard In The Phar Mor Case, David M. Cottrell, Steven M. Glover
Faculty Publications
The Phar Mor case involved a massive collusive fraud by management. Although there were no claims the auditors participated in the fraud, plaintiffs' attorneys were able to convince the jury that the firm was liable for fraud on the grounds it made representations recklessly with regard to GAAS and GAAP.
Corporate Regulation In Australia: Fact Or Fiction, K. Cooper
Corporate Regulation In Australia: Fact Or Fiction, K. Cooper
Faculty of Business - Accounting & Finance Working Papers
This paper recognises and takes as given there is a recurring cycle of regulatory failure, regulatory reform. It also accepts the arguments of a small number of authors that there are flaws within the regulatory mechanism which contribute to the perpetuation of the regulatory failure, regulatory reform cycle. However, this paper argues that these flaws are but a symptom of more deeply seated problems. The regulatory framework is weak in very fundamental and strategic areas including the nature of legislation and accounting standards, enforcement and overall administration. The fact that these weaknesses are not adequately addressed or rectified suggests that …