The Causation of the Financial Statement Manipulation Activities
Journal Title: International Journal of Academic Research in Business and Social Sciences - Year 2018, Vol 8, Issue 12
Abstract
Nowadays, one of the biggest problems that being face by the financial institution is fraudulent in the business transaction. It is one of the serious problems that causes many companies loses of hundred billion of dollar. It is considered as white-collar crimes as it involve many key players of the financial industry and from the company itself. The most common fraudulent is the financial statement fraud (FSF). It is an attempt to deceive the financial player regarding the actual status of the company. It’s the consequences of the ethical behaviour from financial information provider in preparing their financial statement. So, in this article will define the meaning of the financial statement fraud, presenting the biggest cases that have happened in the past years, how the company ‘cooking the books’ and it consequences, and suggest how to prevent the financial fraud in the future. To prevent the financial fraud, the government participation is essential as the government have the power to authorize the regulation regarding prevention of financial fraud. One of the regulations that is famous in preventing financial fraud is using Sarbanes-Oxley Act of 2002, which is used to revamp the standard of financial report, corporate governance and cogency of auditor. The variable for this article is the deterring financial fraud and the understanding the element which lead to financial statement fraud.
Authors and Affiliations
Norfadzilah Rashid, Asyraf Afthanorhan, Ahmad Shukri Yazid, Razana Juhaida Johari, Nadiah Abdul Hamid, Zarinah Abdul Rasit
Keywords
Related Articles
- EP ID EP594525
- DOI 10.6007/IJARBSS/v8-i12/5264
- Views 64
- Downloads 0
A Comparative Analysis of Bay‘ah during the Time of the Prophet S.A.W
Bay‘ah occurred during the time of the Prophet S.A.W. in various conditions and situations. Each bai‘ah had its own background; hence, each one, upon some pondering, surely has prudent intentions and wisdom. Among the fa...
A Review of the Factors Influencing E-Shoppers Behaviour towards Online Shopping
The aim of this study is to determine the factors influencing Malaysian e-shoppers online shopping behaviour in the perspective of electronic word-of-mouth, web atmospherics, trust and, e-satisfaction. This study applies...
A Review on the Evolution and Definition of Entrepreneurial Marketing
The differences and interface between Marketing and Entrepreneurship have been discussed and developed over the past thirty years. During the past three decades, Marketing and Entrepreneurship research streams have prosp...
Effect of Corporate Entrepreneurship on Performance of Food Fortification Companies in Kenya
Corporate entrepreneurship is the process of generating, developing and implementing new ideas and behaviors by a company. The environment that business operates is volatile intensifying global competition and rapid tech...
Analysis of Numerical Understanding Analysis for Primary School
This study aims to examine the level of understanding of Fourth Year student numeracy based on Critical Numeracy Model. The four levels in the Numeracy Understanding Model (NUM) applied in this study are de-coding, meani...