Accounting Irregularities and Financial Fraud: A Corporate Governance Guide - Hardcover

Hardcover

ISBN 10: 0735526915 ISBN 13: 9780735526914

Publisher: CCH, 2001

Synopsis

In recent years, the upsurge in highly publicized allegations of accounting irregularities and fraudulent financial reporting have shaken up today’s corporate community and have been the impetus for the Sarbanes-Oxley Act of 2002, as well as closer scrutiny by the SEC. Accounting Irregularities and Financial Fraud: A Corporate Governance Guide provides a step-by-step guide to the crises enveloping a company in the wake of fraudulent financial reporting--and how to prevent it from happening in the first place. It discusses the corporate environment that causes fraudulent financial reporting, how it spreads, the kinds of crises it can create for a company, and the best way to deal with them.

About this title

From the Publisher

This book is particularly relevant and timely as a result of the investigation into allegations of impropriety at Enron.

Foreword by Mario M. Cuomo.

From the Author

In the wake of highly publicized allegations of accounting irregularities and fraudulent financial reporting that are shaking up today's corporate community, Accounting Irregularities and Financial Fraud 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 directed to almost everybody involved: outside directors, audit committee members, senior executives, CFOs, CPAs, in-house lawyers, and outside law firms.

Highlights:

The Second Edition of Accounting Irregularities and Financial Fraud has been updated to include the following:

Chapter 2, "So Who Gets the Blame?" - features an expanded discussion of former SEC Chairman Arthur Levitt's challenge to corporate management and the announcement of a new set of initiatives to improve the reliability of financial statements. The chapter also includes a new discussion on the recommendations made by the "Panel on Audit Effectiveness."

Chapter 3, "The Immediate Aftermath" - explains the importance of a company issuing an initial press release before rumors of an accounting problem begin to swirl, along with tips on how to word the release.

Chapter 4, "Getting New Audited Financial Statements" - analyzes the need for financial restatements and materiality.

Chapter 9, "Dealing with the Regulators" - features new exhibits, including a snapshot of the penalties that have been imposed by the SEC.

Chapter 10, "Criminal Investigations" - presents an expanded discussion on sentencing guidelines and a new exhibit detailing the criminal sentences that have been imposed on corporate CFOs.

Edition details

• Publisher: CCH
• Publication date: 2001
• ISBN 10: 0735526915
• ISBN 13: 9780735526914
• Binding: Hardcover
• Language: English
• Edition number: 2
• Number of pages: 337
• Editor: Michael R. Young