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Of the two major sub-categories of revenue recognition financial reporting fraud – premature recognition of real revenue, and recordation of wholly bogus revenue – the latter should, by all rights, be the easiest to detect, since extraordinary accounting measures have to be taken to perpetuate concealment of what are, after all, nonexistent claims to customer […]
The Business Times, Singapore Accountancy Convention, “Making the Hard Decisions.” July 3, 2014.
Fraud, and in particular financial reporting fraud, costs investors huge sums each year. The headline cases – Enron, WorldCom, Adelphia, Parmalat – are widely reported and become MBA class case studies, but fraud is far more pervasive than these isolated major events suggest. The Association of Certified Fraud Examiners (ACFE) publishes its biennial study, Report […]
Chicago, Illinois (PRWEB) November 03, 2014– Dr. Barry Jay Epstein, an internationally-recognized accounting and auditing expert, and Ralph Nach, an accomplished consultant, speaker, author, instructional designer, and facilitator of the well-known Accounting and Auditing Clinic professional education program, announce the formation of a new business enterprise, Epstein + Nach LLC (https://www.epsteinnach.com).
The newly-launched international […]
The allocation of responsibilities between company management and outside auditors has long been clear.
Management is obligated to develop and implement an accounting system, including pertinent internal controls, to enable the proper and timely recognition, measurement, classification, and recordation of transactions and events bearing upon the entity’s financial position and results of operations, and the periodic […]