Does the phrase
accounting fraud
make your stomach cringe?
Most people have
been affected in one way or another by some of the notable avalanche of corporate
scandals in recent years that included the following:
- Benard L. Madoff (2008, USA) - (Ponzi Scheme) Charges
include the following, amongst others: securities Fraud,
Investment Adviser Fraud, Mail Fraud.
- AIG (2004, USA) - Accounting of structured financial deals.
- WorldCom (2002, USA) - Overstated cashflows.
- Enron (2001, USA) - Accounting fraud.
- Nortel (Canada) - Executives overstate post-dot-com recovery
earnings in order to earn bonuses.
If large corporations such as AIG and Enron are that
vulnerable to corporate scandal, you can imagine how more
vulnerable your small business might be.
Find out how Auditera's Enterprise Risk Management Methodologies can assist
your business. read more