Sentence examples for fraudulent financial reporting from inspiring English sources

Fraudulent financial reporting (FFR) involves conscious efforts to mislead others regarding the financial condition of a business.

Audit standards around the world describe three factors, known together as the fraud triangle, that purportedly predict the likelihood of fraudulent financial reporting (IAASB, 2009, PCAOB, 2005).

Recent accounting scandals and the regulatory response of the Sarbanes Oxley Act of 2002 have highlighted the need for future auditors to be able to recognize red flags indicating the possibility of fraudulent financial reporting (FFR) and misappropriation of assets (MOA).

For instance, the former Comptroller General of the United States testified to Congress ''that expanding auditors' responsibilities to report on the effectiveness of internal control over financial reporting would assist auditors in assessing risks for the opportunity of fraudulent financial reporting..

–The dollar value of fraudulent financial reporting soared in the last decade, despite the implementation of the Sarbanes-Oxley Act of 2002.

Develop an understanding of the various aspects of fraudulent financial reporting, including the identification of fraud schemes and analytical techniques in uncovering fraud in financial reports.

Establish safeguards against fraudulent financial report, including data accuracy and correction timeline.

Its rules are as follows [57]: Establish safeguards against fraudulent financial report, including data accuracy and correction timeline.

Insurance giant AIG agreed to pay a $10 million penalty to the SEC in a settlement concerning fraud allegations at cell-phone retailer Brightpoint AIG allegedly helped facilitate fraudulent financial reports by selling Brightpoint an insurance product that allowed the company to spread a December 1998 loss over several quarters.

In China, much of the information available to investors about companies is fraudulent, including financial reports, corporate prospectuses and even listing authorizations.

Investors lost a lot of money, in part because they relied on fraudulent or misleading financial reports issued by companies and certified by their auditors.