Checklist of Accounting Fraud: How Fraud Occurs- Disclosure Fraud

November 16th, 2009 Comments off
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Example of such Accounting Fraud

AREAS AND COMMON METHODS USED TO FRAUD

Bre-X Minerals

 

AREA: OVERALL MISREPRESENTATION

There are three (3) categories of disclosure frauds which comprises the following:

  • Overall misrepresentations about the nature of the company or its products, usually made through news reports, interviews, annual reports, and elsewhere
  • Misrepresentations in the management discussions and other non-financial statement
  • Sections of annual reports, 10-Ks, 10-Qs, and other reports
  • Misrepresentations in the footnotes to the financial statements

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Financial Accounting

 
 

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