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Accounting Acct 601

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Submitted By smoton23
Words 321
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Shaletrica Griffin
Acct 601
Week 4 Term Paper

Below is some literature about Forensic accounting. This particular crimes goes on each and every day in an office setting. It has ruined a lot of people lives and will do so , if they continue to commit fraud when it comes to money and transaction..
Financial statement fraud is a deliberate attempt by corporations to deceive or mislead users of published financial statements, especially investors and creditors, by preparing and disseminating materially misstated financial statements’ (Rezaee, 2005:279). An extensive literature on fraud exists (e.g. Apostolou et al, 2000; Rezaee, 2005; Ozkul and Pamukcu, 2012, etc.). Jointly, the litera-ture show some consensus that fraud may involve: (1) the alteration or manipulation of material financial records, supporting documents, or business transactions; (2) intentional misstatements, omissions, or misrepresentation of events, transactions, accounts or other significant information from which financial statements are prepared; (3) deliberate misapplication and misinterpretation of accounting standards, principles, policies and methods used to measure, recognize, and report economic events and business transactions;
Fraud schemes vary in scope, context and with the position of the perpetrators within the firm. Some types of fraud are specific to some industries due to industry related incentives (e.g. Calavita et al, 1997). For example, securities and investment fraud is common to the banking and financial services industry. Other types of fraud are concentrated within top and middle management levels (e.g. Crumbley, 2003; Zahra et al, 2005; etc.

References

Albrecht, W. S., & Albrecht, O.C (2003). Fraud Examination and Prevention.March 21. Mason, Oh: Thompson-Southwestern
.
Albecht, S.

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