Organizational Accounting Fraud Act
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An Organizational Accounting Fraud Act is an accounting fraud act that is an organizational fraud act (that involves an accounting practice in an organization).
- Context:
- It can (typically) be an Organizational Accounting Control Fraud (of control fraud).
- It can be recognized by a Organizational Accounting Forensics.
- Example(s):
- Counter-Example(s):
- See: Accounting Firm, Corporate Abuse, Executive (Management), Revenues, Liabilities, Creative Accounting, Regulation.
References
2014
- (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/Accounting_scandals Retrieved:2014-10-26.
- Accounting scandals are political and/or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. Such misdeeds typically involve complex methods for misusing or misdirecting funds, overstating revenues, understating expenses, overstating the value of corporate assets or underreporting the existence of liabilities, sometimes with the cooperation of officials in other corporations or affiliates.
In public companies, this type of “creative accounting” can amount to fraud, and investigations are typically launched by government oversight agencies, such as the Securities and Exchange Commission (SEC) in the United States.
- Accounting scandals are political and/or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. Such misdeeds typically involve complex methods for misusing or misdirecting funds, overstating revenues, understating expenses, overstating the value of corporate assets or underreporting the existence of liabilities, sometimes with the cooperation of officials in other corporations or affiliates.