Fair value accounting fraud: new global risks and detection techniques

This book will explain the many applications of fair value accounting in connection with accounting for assets, liabilities, revenue and expenses, as well as fair value disclosures in financial statements. To prove fraud, it must be shown that the accounting standards that the financial statements claim to be in conformity with are actually not being complied with they have been intentionally violated or misapplied in some way. Therefore, in each of several categories of financial statement fraud involving fair value issues, the book will:(1) explain US accounting standards (2) compare US accounting standards to International Financial Reporting Standards (thereby making this book marketableworldwide) (3) explain and illustrate how these accounting rules can be exploited to perpetrate financial statement fraud. Specific mis-applications of theaccounting rules will be explained and illustrated. The book will also identify red flags of each of the major categories of fair value frauds and include a chapter on fair value fraud issues in non-business financial statements suchas with nonprofit organizations (although the vast majority of the book will focus on commercial businesses, since that is where most of the fair value fraud will be). Finally, the book will also explain auditor responsibilities pertaining to fair value issues, as well as best-practices for internal controls over fair value accounting applications.

• ISBN: 978-0-470-47858-5
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 272
• Fecha Publicación: 09/09/2009
• Nº Volúmenes: 1
• Idioma: Inglés