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Financial Fraud Prevention and Detection : Governance and Effective Practices

By: Young, Michael R.
Material type: TextTextSeries: eBooks on Demand.Wiley Corporate F&A: Publisher: Hoboken : Wiley, 2013Description: 1 online resource (317 p.).ISBN: 9781118762097.Subject(s): Accounting fraud -- United States | Commercial crimes -- United States | Corporate governance -- United States | Corporations -- Accounting -- Corrupt practices -- United States -- Prevention | Corporations -- Accounting -- Corrupt practices -- United StatesGenre/Form: Electronic books.Additional physical formats: Print version:: Financial Fraud Prevention and Detection : Governance and Effective PracticesDDC classification: 658.473 Online resources: Click here to view this ebook.
Contents:
Financial Fraud Prevention and Detection; Contents; Preface; Acknowledgments; List of Exhibits; PART ONE Origin; CHAPTER ONE The Origin of Financial Fraud; WHAT IS FINANCIAL FRAUD?; HOW DOES FINANCIAL FRAUD COME ABOUT?; ISOLATING THE ELEMENTS; THE DANGER OF "MANAGED EARNINGS"; THE AUDIT COMMITTEE; INTERNAL AUDIT; THE OUTSIDE AUDITOR; THE FRAUD SURFACES; CHAPTER TWO The Path to Corruption; LOOKING AT THE NUMBERS; LOOKING AT THE ENVIRONMENT; THE CHIEF EXECUTIVE OFFICER; THE CHIEF FINANCIAL OFFICER; THE EFFECTIVENESS OF THE AUDIT COMMITTEE; A NEW INDUSTRY; AN AGGRESSIVE GROWTH PROGRAM
AN INDUSTRY DOWNTURNREGULATORY REACTION; PART TWO Prevention; CHAPTER THREE From Treadway to Sarbanes-Oxley; BEFORE TREADWAY: BLAMING THE AUDITOR; THE TREADWAY COMMISSION; CONSEQUENCES OF THE TREADWAY COMMISSION REPORT; FURTHER DEVELOPMENTS; THE LEVITT INITIATIVES; ENRON; CHAPTER FOUR The Sarbanes-Oxley Act; SIX UNDERLYING THEMES; THE CEO AND CFO; THE AUDIT COMMITTEE; THE OUTSIDE AUDITOR; COMPANY COUNSEL; INVESTMENT BANKERS; DID IT WORK?; CHAPTER FIVE The Audit Committee; THE AUDIT COMMITTEE'S RESPONSIBILITY; CHECKLISTS, CHECKLISTS, CHECKLISTS; AN APPROACH TO AUDIT COMMITTEE OVERSIGHT
THE TONE AT THE TOPLOGISTICAL CAPABILITY; IMMEDIATE DETECTION OF FINANCIAL MISREPORTING; A PROPERLY CONFIGURED AUDIT COMMITTEE; INDEPENDENCE; FINANCIAL SOPHISTICATION; WILLINGNESS TO WORK; THE BIGGEST CHALLENGE: INFORMATION; GETTING INFORMATION FROM SENIOR MANAGEMENT; GETTING INFORMATION FROM THE OUTSIDE AUDITOR; Environmental Information; Logistical Capabilities of the Financial Reporting System; The Level of Cooperation and Difficulties Encountered; Unusual Revenue or Reserve Activity; Nonmaterial Proposed Adjusting Journal Entries; The PCAOB's List; GETTING INFORMATION FROM INTERNAL AUDIT
MORE ON THE TONE AT THE TOPMINIMIZE RELIANCE ON PAPER; LEARN THE BUSINESS; MEET WITH OTHERS AND ALONE; MEET WHEN NECESSARY; USE GOOD JUDGMENT; CHAPTER SIX In the Crosshairs: The Chief Executive Officer; CORPORATE GOVERNANCE PAPERWORK; THE RIGHT CULTURE; GETTING INFORMATION; SIGNS OF CORRUPTION; WHAT'S THE OBJECTIVE?; PART THREE Detection; CHAPTER SEVEN Detection and Its Aftermath; WHISTLEBLOWERS; THE IMMEDIATE CHALLENGE: RELIABLE INFORMATION; ENTER THE AUDIT COMMITTEE; A PRELIMINARY INVESTIGATION; DIGGING DEEPER; ALERTING THE COMPANY'S AUDITOR; SECURING DOCUMENTS
SENIOR MANAGEMENT CULPABILITYINITIAL DISCLOSURE; INFORM THE SEC?; THE SECURITIES EXCHANGE; COMPANY LENDERS; D&O INSURANCE; CLASS ACTION LITIGATION; NOW FOR A MORE THOROUGH INVESTIGATION; CHAPTER EIGHT Investigating Financial Fraud: Objectives and Approach; AUDIT COMMITTEE OVERSIGHT; AUDIT COMMITTEE COUNSEL AND ACCOUNTANTS; WHAT IS THE AUDIT COMMITTEE LOOKING FOR?; SCOPE OF THE INVESTIGATION; LACK OF SUBPOENA POWER; INDIVIDUAL COUNSEL FOR EXECUTIVE EMPLOYEES; CONDUCTING INTERVIEWS; THE INVESTIGATION REPORT; CHAPTER NINE Finding the False Numbers; A DAUNTING TASK; GETTING STARTED
Revenue Recognition
Summary: Step-by-step guidance for board members and executives on preventing and detecting accounting fraud In the wake of highly publicized allegations of accounting irregularities and fraudulent financial reporting that are shaking up today's corporate community, Financial Fraud Prevention and Detection provides a step-by-step guide to how these crises can envelop a company and how to prevent them from happening in the first place. It is written for almost everyone involved: outside directors, audit committee members, senior executives, CFOs, CPAs, in-house lawyers, and outside law firms. Provides a
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Item type Current location Call number URL Status Date due Barcode
Electronic Book UT Tyler Online
Online
HF5686.C7 .Y68 2013 (Browse shelf) http://uttyler.eblib.com/patron/FullRecord.aspx?p=1366279 Available EBL1366279

Financial Fraud Prevention and Detection; Contents; Preface; Acknowledgments; List of Exhibits; PART ONE Origin; CHAPTER ONE The Origin of Financial Fraud; WHAT IS FINANCIAL FRAUD?; HOW DOES FINANCIAL FRAUD COME ABOUT?; ISOLATING THE ELEMENTS; THE DANGER OF "MANAGED EARNINGS"; THE AUDIT COMMITTEE; INTERNAL AUDIT; THE OUTSIDE AUDITOR; THE FRAUD SURFACES; CHAPTER TWO The Path to Corruption; LOOKING AT THE NUMBERS; LOOKING AT THE ENVIRONMENT; THE CHIEF EXECUTIVE OFFICER; THE CHIEF FINANCIAL OFFICER; THE EFFECTIVENESS OF THE AUDIT COMMITTEE; A NEW INDUSTRY; AN AGGRESSIVE GROWTH PROGRAM

AN INDUSTRY DOWNTURNREGULATORY REACTION; PART TWO Prevention; CHAPTER THREE From Treadway to Sarbanes-Oxley; BEFORE TREADWAY: BLAMING THE AUDITOR; THE TREADWAY COMMISSION; CONSEQUENCES OF THE TREADWAY COMMISSION REPORT; FURTHER DEVELOPMENTS; THE LEVITT INITIATIVES; ENRON; CHAPTER FOUR The Sarbanes-Oxley Act; SIX UNDERLYING THEMES; THE CEO AND CFO; THE AUDIT COMMITTEE; THE OUTSIDE AUDITOR; COMPANY COUNSEL; INVESTMENT BANKERS; DID IT WORK?; CHAPTER FIVE The Audit Committee; THE AUDIT COMMITTEE'S RESPONSIBILITY; CHECKLISTS, CHECKLISTS, CHECKLISTS; AN APPROACH TO AUDIT COMMITTEE OVERSIGHT

THE TONE AT THE TOPLOGISTICAL CAPABILITY; IMMEDIATE DETECTION OF FINANCIAL MISREPORTING; A PROPERLY CONFIGURED AUDIT COMMITTEE; INDEPENDENCE; FINANCIAL SOPHISTICATION; WILLINGNESS TO WORK; THE BIGGEST CHALLENGE: INFORMATION; GETTING INFORMATION FROM SENIOR MANAGEMENT; GETTING INFORMATION FROM THE OUTSIDE AUDITOR; Environmental Information; Logistical Capabilities of the Financial Reporting System; The Level of Cooperation and Difficulties Encountered; Unusual Revenue or Reserve Activity; Nonmaterial Proposed Adjusting Journal Entries; The PCAOB's List; GETTING INFORMATION FROM INTERNAL AUDIT

MORE ON THE TONE AT THE TOPMINIMIZE RELIANCE ON PAPER; LEARN THE BUSINESS; MEET WITH OTHERS AND ALONE; MEET WHEN NECESSARY; USE GOOD JUDGMENT; CHAPTER SIX In the Crosshairs: The Chief Executive Officer; CORPORATE GOVERNANCE PAPERWORK; THE RIGHT CULTURE; GETTING INFORMATION; SIGNS OF CORRUPTION; WHAT'S THE OBJECTIVE?; PART THREE Detection; CHAPTER SEVEN Detection and Its Aftermath; WHISTLEBLOWERS; THE IMMEDIATE CHALLENGE: RELIABLE INFORMATION; ENTER THE AUDIT COMMITTEE; A PRELIMINARY INVESTIGATION; DIGGING DEEPER; ALERTING THE COMPANY'S AUDITOR; SECURING DOCUMENTS

SENIOR MANAGEMENT CULPABILITYINITIAL DISCLOSURE; INFORM THE SEC?; THE SECURITIES EXCHANGE; COMPANY LENDERS; D&O INSURANCE; CLASS ACTION LITIGATION; NOW FOR A MORE THOROUGH INVESTIGATION; CHAPTER EIGHT Investigating Financial Fraud: Objectives and Approach; AUDIT COMMITTEE OVERSIGHT; AUDIT COMMITTEE COUNSEL AND ACCOUNTANTS; WHAT IS THE AUDIT COMMITTEE LOOKING FOR?; SCOPE OF THE INVESTIGATION; LACK OF SUBPOENA POWER; INDIVIDUAL COUNSEL FOR EXECUTIVE EMPLOYEES; CONDUCTING INTERVIEWS; THE INVESTIGATION REPORT; CHAPTER NINE Finding the False Numbers; A DAUNTING TASK; GETTING STARTED

Revenue Recognition

Step-by-step guidance for board members and executives on preventing and detecting accounting fraud In the wake of highly publicized allegations of accounting irregularities and fraudulent financial reporting that are shaking up today's corporate community, Financial Fraud Prevention and Detection provides a step-by-step guide to how these crises can envelop a company and how to prevent them from happening in the first place. It is written for almost everyone involved: outside directors, audit committee members, senior executives, CFOs, CPAs, in-house lawyers, and outside law firms. Provides a

Description based upon print version of record.

Author notes provided by Syndetics

<p> MICHAEL R. YOUNG is an internationally recognized expert on the causes and prevention of fraudulent financial reporting. He is the author of the Financial Reporting Handbook and Accounting Irregularities and Financial Fraud and has been recognized by Accounting Today as one of the top 100 most influential people in accounting. Young speaks throughout the country on financial reporting issues and has appeared on Fox Business, CNBC, CNN, and BNN (Canada). He lives in New York City and is a partner of Willkie Farr & Gallagher LLP where he chairs the firm's securities litigation and enforcement practice.</p>

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