Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 35: Parmalat (Italy, 2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in European Companies 206 Case 35: Parmalat (Italy, 2003) Parmalat, one of Italy’s most significant commercial entities and… …and EBIT of about EUR 600 million, Parmalat had Accounting Fraud in European Companies 207 become a global rival to Nestlé, Danone and… …account linked to the Cayman Islands subsidiary known as “Bonlat”, which appeared to be at the heart of the fraud. The Bank of America revealed that a… …creditors all lost money heavily. The case Accounting Fraud in European Companies 208 sent shockwaves through Italy where Parmalat was a household… …revenues through fictitious sales. The core of the fraud was a system of double-billing to supermar- kets and other retail customers. By billing twice for… …divisions. For example, one amount of EUR 65 million found its way to AC Parma, the soccer Accounting Fraud in European Companies 209 team owned… …located in tax havens around the world, and it engaged in complicated bond and derivative deals. The fraud was certainly not of the blatant “take-the-… …had echoes of several other recent scandals (see Trueman 2004, p. 4): – The fraud appeared to have been incremental, growing in magnitude over a… …is one that had been adopted by a great many fraud companies in recent years. Allegations against the auditors Public commentary and debate… …verification carelessly through Parmalat’s internal Accounting Fraud in European Companies 210 mail system instead of following the standard audit…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 15: Xerox (2002)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in U.S. Companies 106 Case 15: Xerox (2002) For most of the second half of the 20th century, the Xerox Corporation was a… …the problems became public, the Accounting Fraud in U.S. Companies 107 SEC launched an investigation into what happened at the Mexican… …audi- tors refused to sign off on the company’s annual report until they had rechecked the numbers. They said they had not uncovered any signs of fraud… …director Stephen Cutler said in a statement. “In a pattern of pervasive fraud, investors were misled and betrayed over the course of four years.” The alle-… …lessees. Accounting Fraud in U.S. Companies 108 Under US-GAAP, Xerox was required to book revenue from the box at the be- ginning of the lease… …, and, according to KPMG, the potential tax exposure arising out of the transaction was Accounting Fraud in U.S. Companies 109 “remote to low”… …values of the machines by as much as 50%. Accounting Fraud in U.S. Companies 110 Xerox grew progressively dependent on these accounting… …its accounting controls. However, it neither admitted nor denied the fraud allegations in the Com- mission’s complaint. The SEC also filed a civil suit… …also filed fraud charges against the audit firm KPMG for its involvement in the accounting scandal. The Commission alleged that KPMG was part of… …investing public expects auditors to do,” said Paul R. Berger, an associate director of enforcement at the Accounting Fraud in U.S. Companies 111…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 10: MicroStrategy (2000)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in U.S. Companies 71 Case 10: MicroStrategy (2000) In 2000, the reversal of fortune could not have been greater for… …66 million, nearly one-fifth of the total USD 365 Accounting Fraud in U.S. Companies 72 million reported. It also wiped out USD 56 million in… …had not been signed by the close of the just-ended quarter, they clearly should not have been counted as that quarter’s revenue. Accounting Fraud… …MicroStrategy internally or sold to a third party. In December 2000, the SEC accused three MicroStrategy officers of fraud: CEO Michael Saylor, COO Sanjeev… …the SEC settlement in December 2000, the company and its officers ended all litigation stemming from the accounting fraud. “To have all this behind… …, in August 2003, the SEC ended its investigation of PwC with no enforcement action against the audit firm. Accounting Fraud in U.S… …recovery turned out to be a tough challenge. References: Biegelman, Martin T. / Bartow, Joel T.: Executive Roadmap to Fraud Prevention and… …Internal Control, Hoboken/New Jersey 2006, p. 159 Krishnan, Sudha: Revenue Recognition Fraud or Error – The Case of MicroStrategy, Inc… …Schilit, Howard: Financial Shenanigans – How to detect accounting gimmicks and fraud in financial reports, 2nd edition, Boston 2002, pp. 42–44… …, December 14, 2000 MicroStrategy, SEC settle, www.cnnmoney.com, December 14, 2000 MicroStrategy Chairman Accused of Fraud by SEC, The New York Times…

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  Case 33: Vivendi Universal (France, 2002)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in European Companies 194 Case 33: Vivendi Universal (France, 2002) Initially, Jean-Marie Messier was being celebrated as a… …. According to Le Monde, Vivendi had appeared to dispose of 400 million shares in BSkyB, but, instead of selling them, Accounting Fraud in European… …separate SEC probe. In December 2002, fraud squad detectives raided Vivendi’s Paris headquarters and the homes of its deposed CEO, Jean-Marie Messier… …, hauling away boxes of docu- ments and electronic records. “The situation for Vivendi looks quite dangerous,” said a lawyer specialized in securities fraud… …cases. “Vivendi has to defend itself at a time when public anger over corporate fraud is running high, and juries are increas- ingly willing to hand out… …big awards in such cases.” Accounting Fraud in European Companies 196 In December 2003, the SEC announced that it filed and simultaneously… …settled a civil fraud action against Vivendi and its former CEO. Specifically, the SEC com- plaint included the following allegations (see SEC Press… …Accounting Fraud in European Companies 197 planned to dispose of. In a self-justificatory book published in 2003, Messier sug- gested that he was a… …, the company had continued to apply French GAAP. Accounting Fraud in European Companies 198 References: Vivendi Universal, with its… …turned up the heat for the French media giant, Business Week Online, November 18, 2002 Fraud squad raids Vivendi offices, The Independent, December 13…

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  Case 2: ZZZZ Best Company (1987)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in U.S. Companies 29 Case 2: ZZZZ Best Company (1987) The story of Barry Minkow, the amazing teen-age swindler, may… …had been committing fraud. When he wasn’t directly stealing money, he was raising it fraudulently. Nonethe- less, he was able to expand his company and… …even Minkow by surprise. Everything happened very fast. Within four years, ZZZZ Accounting Fraud in U.S. Companies 30 Best (that had started… …pub- Accounting Fraud in U.S. Companies 31 lic, he fooled auditors, investment bankers, brokerage firms, outside attorneys and the SEC alike… …Best’s business was legitimate. However, the bulk of the fraud was concentrated in the company’s sales and receivables (most of which were fictitious)… …unravelled the fraud. The sole practitioner who performed the ZZZZ Best audits before the company went public admitted that he had not inspected any of the… …unfinished building and, astonishingly, completing it in Accounting Fraud in U.S. Companies 32 just 20 days, at a cost of USD 2 million. It was a… …, despite Accounting Fraud in U.S. Companies 33 her persistence, Minkow avoided repaying the small amount. She never forgot the insult and tracked… …counts of racketeering, securities fraud, embezzlement, tax evasion and bank fraud. It also accused Minkow of setting up dummy companies, writing phony… …a victim of mobsters and loan sharks who had taken over his company and forced him to commit fraud. Nonetheless, he was found guilty on all charges…

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• eBook-Kapitel aus dem Buch Unternehmenseigene Ermittlungen

  Notwendigkeit von eigenen Ermittlungen

  Birgit Galley

  …Handlun- gen nimmt Wells146 im so genannten „Fraud Tree“147 vor. Er unterteilt die schädigenden Handlungen148 in h) Vermögensschädigungen („Asset… …Misappropriation”), i) Rechnungslegungsmanipulationen („Financial Statement Fraud“) und j) Korruption („Corruption“). Während sich das Unternehmen bei der… …Betrugsermittlervereinigung ACFE, Association of Certified Fraud Examiner mit Sitz in Austin, Texas. 147 Wells, J.T.: Corporate Fraud. Prevention and detection, Association… …of Certified Fraud Examiner, John Wiley & Sons, 2013. S. 7. 148 Siehe dazu auch Grüninger, S.: Werteorientiertes Compliance Management-System, in…

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• eBook-Kapitel aus dem Buch Handbuch Anti-Fraud-Management

  Rahmenbedingungen und Entstehungsgründe von Bilanzdelikten

  Dr. Stefan Hofmann

  …„Fraud Triangle“ und „Fraud Diamond“ 4.2.1 Das „Fraud Triangle“ In Betriebs- und Volkswirtschaftslehre finden sich zahlreiche geometrische Fi- guren, mit… …gesetzes aus dem Jahr 1967 längst als Klassiker der Wirtschaftspolitik. In diesem Kontext ist auch das „Fraud Triangle“ zu sehen. Durch dieses… …1940er Jahren und wurde von Donald R. Cressey entwickelt.541 Cressey hatte sich im Rahmen seiner Dissertation mit den Ursachen von Fraud in Unternehmen… …. „Kriminalitätsrisiko-Mo- dell“ bzw. „Fraud Triangle“, das in Abb. 4-4 dargestellt ist.542 Wirtschaftskrimi- nalität tritt demnach dann auf, wenn eine Gelegenheit zur Tat… …Einstellungen in Einklang brin- gen kann. Abb. 4-4: Fraud Triangle Anreiz/Druck (Incentive/Pressure) Fraud Gelegenheit (Opportunity) Einstellung (Attitude)… …Rahmenbedingungen und Entstehungsgründe von Bilanzdelikten Fraud = Pressure + Opportunity + Character Dass eine solche Verknüpfung nicht korrekt ist, ist… …adäquat ist.545 Unter Verwendung ihrer eigenen Begrifflichkeiten entwickelten sie die folgende Formel: Fraud = Motivation * Condition * Attitude Für den… …Fraud Tri- angle müssen alle drei Voraussetzungen simultan gegeben sein; ansonsten wird es als unwahrscheinlich erachtet, dass es zu einem Betrug kommen… …kann: „all three must be present for a fraud to occur“.547 Jedes Wirtschaftsdelikt hat den theoretischen Hintergrund des „Betrugs-Drei- ecks“. Das… …reicherung begangen werden („Employee Fraud“).548 Im Folgenden soll hingegen Top Management Fraud im Vordergrund der Betrachtung stehen: Bilanzmanipu-…

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  Wirtschaftsdelikte und Anti-Fraud-Management: Konzeptionelle Grundlagen

  Dr. Stefan Hofmann

  …Vordergrund – wird zu- dem je nach Hierarchiestufe in (Top-) Management Fraud und in Employee Fraud differenziert. Diese Unterscheidung ist bedeutsam und… …Management Fraud und Employee Fraud Die Auswirkungen von Mitarbeiterdelikten, die in der Regel mit dem Ziel der persönlichen Bereicherung begangen werden… …englischen Ausdruck „Fraud“ benutzt. 84 Kollusionen mit Externen werden dagegen eher seltener. Vgl. Ernst & Young (2003, S. 17). 85 Gleichwohl sind diese… …. 2335) und Hofmann (1993, S. 529). ESV_Hofmann-Satz.indd 58 5/26/2009 6:51:04 PM 59 Konzeptionelle Grundlagen Abb. 2-1: Management Fraud und… …Employee Fraud – Täterkreis und Schadenshöhe Unternehmens- hierarchie Top Management Middle Management Lower Management Ausführungsebene (Staff) hoch… …. Demnach sind z. B. hohe finanzielle Schäden bei Top Management Fraud mehr als doppelt so häufig wie bei Delikten anderer Unternehmensangehöriger. Die… …Ergebnisse der Studie von PwC zur Thematik „Top Management Fraud vs. Employee Fraud“ zusammengefasst.88 Abb. 2-2: Positionen von Tätern, Schäden und… …Fraud vor. Bilanzdelikte bewirken regelmäßig erhebliche materielle und im- materielle Schäden für das Unternehmen. Ursache hierfür sind die umfassenden… …wissenschaftlichen Auseinandersetzung mit der Wirtschaftskrimi- nalität im Allgemeinen und mit Management Fraud im Speziellen liegen.91 So unterschied der… …, Sanktionierung und Rechtsdurchsetzung wirksam bekämpft werden kann. Letztlich geht es darum, wie die als Grundvoraussetzung für den Kampf gegen Fraud geforderte…

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  Case 43: Sanyo Electric (Japan, 2007)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in Asian Companies 247 Case 43: Sanyo Electric (Japan, 2007) Like other Japanese electronics makers, Osaka-based Sanyo… …temporarily after being implicated in financial statement fraud at Kanebo, the cosmetics firm. It had also been the auditor for Nikko Cordial, which had to… …restate past results to correct accounting irregularities as well. And now, Accounting Fraud in Asian Companies 248 Sanyo was believed not to have… …manufacturing company like Sanyo, which had started by making bicycle lamps in 1947. “Think Gaia was a good strategy,” said a financial Accounting Fraud in… …going green will get them out of the red.” References: Sanyo’s Accounting Fraud, www.home.comcast.net, February 23, 2007 Sanyo Earnings Probe… …Sends Shares South, E-Commerce Times, February 23, 2007 Sanyo probed for securities fraud, www.news.webindia123.com, February 23, 2007 Sanyo Probed over…

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  Case 39: Seibu Railway (Japan, 2004)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in Asian Companies 232 Case 39: Seibu Railway (Japan, 2004) Yoshiaki Tsutsumi, the former chairman of Seibu Railway, was… …president Terumasa Koyanagi to under-report the size of stakes held in Seibu Accounting Fraud in Asian Companies 233 Railway by its largest… …. According to sources close to the company, Koya- nagi had been questioned by prosecutors almost every day since Seibu had made the fraud public. The… …affairs department in charge of stocks was found dead on a beach Accounting Fraud in Asian Companies 234 in Yamagata Prefecture, after financial… …, several other high-profile scandals rocked the nation. Accounting Fraud in Asian Companies 235 References: Japanese tycoon resigns in… …Koyanagi found hanged, www.japanaddicted.com, February 20, 2005 Japanese mogul arrested for fraud, www.news.bbc.co.uk, March 3, 2005 Japan arrests former… …world’s richest person over fraud, People’s Daily Online, March 3, 2005 Japan Arrests Rail Tycoon in Insider Trading Case, The New York Times, March 4… …, 2005 Koizumi supporter arrested on fraud charges, Times Online, March 4, 2005 Tsutsumi held over Seibu share scam, insider trade, The Japan Times…

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