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
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- EP ID EP594525
- DOI 10.6007/IJARBSS/v8-i12/5264
- Views 43
- Downloads 0
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