Corporate financial reporting standards and auditors' responsibilities : the problem of financial statement frauds | |
| Author | Bui Minh Hanh |
| Call Number | AIT RSPR no.SM-03-53 |
| Subject(s) | Financial statements Fraud Corporations--Accounting |
| Note | A research study submitted in partial fulfillment of the requirements for the degree of Master of Business Administration, School of Management |
| Publisher | Asian Institute of Technology |
| Series Statement | Research studies project report ; no. SM-03-53 |
| Abstract | The new centmy witnessed collapses of many "blue-chip" companies: Enron, WorldCom, Global Crossing, to name a few. The common point shared among these corporations is that they all started with a financial statement fraud scheme. Enron tops the list of trickiest fraud, while WorldCom ranks the largest bankruptcy ever in the U.S. The collapses of them with the relation to frauds have led to a reexamination of the adequacy of accounting, auditing, and disclosure rules not only in the United States but any other places where risks of frauds, or to be more specific, risks of Financial statement frauds, exists. The history of financial statement frauds dates back to the 18111 century with the case of Jolm Law. Up till now, financial statement frauds have become various in forms and numbers, tremendous in adverse consequences and losses. The task of curbing financial statement frauds is more evident than ever. Ways to curb vary, among which are the modifications in role and responsibilities of auditors, as well as reforms and improvements of corporate financial reporting standards. Should we add the task of detecting fraud to the auditors ' job? If yes, how should they perform within their constraint so as to detect fraud? How should the standards be improved so that crooks can no longer circumvent the law? The study will search the answers to the above questions, systemize the financial reporting standards worldwide, analyze the case studies to get the findings and set forth feasible reconm1endation. |
| Year | 2003 |
| Corresponding Series Added Entry | Asian Institute of Technology. Research studies project report ; no. SM-03-53 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management (SOM) |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Ramachandran, Neelakantan |
| Examination Committee(s) | Tang, John C.S.; Do Ba Khang |
| Scholarship Donor(s) | Government of France; Asian Institute of Technology |
| Degree | Research report (M.Sc.) - Asian Institute of Technology, 2003 |