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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 41: Livedoor (Japan, 2006)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in Asian Companies 240 Case 41: Livedoor (Japan, 2006) The Livedoor saga is probably one of the most eye-catching episodes… …accounting fraud; prosecutors depicted him as a greedy and lawless figure who had manipulated the books to inflate his company’s stock price. The trial was… …, who had used Accounting Fraud in Asian Companies 241 “smoke and mirrors” to create riches that honest and hard-working businessmen could… …, Horie was accused of falsifying the company’s accounts. The alleged fraud centred on Livedoor’s group financial statements for the business year ending… …Accounting Fraud in Asian Companies 242 hours for three months because of capacity problems. The TSE announced to put Livedoor on monitoring status, and… …. In March 2007, following a six-month trial which gripped Corporate Japan, Horie was found guilty of fraud and sentenced to two years and six months in… …statements, the Livedoor affair is “pretty small beer”, said another observer. The trial was political retaliation for Horie’s challeng- Accounting Fraud… …College Dropout Turned Internet Tycoon, The New York Times, January 18, 2006 Livedoor founder arrested for fraud as delisting beckons, The Independent… …, January 24, 2006 Livedoor fraud made 6 billion yen: sources, The Japan Times, February 24, 2006 A fall from grace, www.accaglobal.com/publications, June 1… …, 2006 An accountability gap is holding back Japan’s economy, Financial Times, March 14, 2007 Japan’s Horie faces verdict in Livedoor fraud case…

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• Risk, Fraud & Compliance Ausgabe 01 2010

• Risk, Fraud & Compliance Ausgabe 02 2010

• Risk, Fraud & Compliance Ausgabe 03 2010

• Risk, Fraud & Compliance Ausgabe 04 2010

• Risk, Fraud & Compliance Ausgabe 05 2010

• Risk, Fraud & Compliance Ausgabe 06 2010

• eBook-Kapitel aus dem Buch Accounting Fraud

  Chapter 4: Conclusion and Outlook

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …to frequent events, and that there is no scandal arising from infrequent but morally acceptable events. The cases of accounting fraud described in… …led away in handcuffs under indictment for fraud was shocking indeed, and society was outraged at the criminal acts. Most of the scandals occurred… …characterized the scenario in Europe and in Asia, showing that probably no corporate governance system in the world is able to prevent accounting fraud… …. Unfortunately, fraud will continue to hit the headlines of newspapers as well as the bottom lines of companies. Despite the best efforts of those who are respon-… …sible for fighting fraud, one inevitable reality remains: “fraud happens”. It is a given that economic crime will always be with us. Eliminating fraud is… …probability, the malfeasance is detected. Other factors contributing to accounting fraud may include unrealistic performance standards that fail to take into… …course, unethical individuals. According to Michael R. Young, a well-known American fraud and litigation ex- pert, the principal characteristics of… …accounting fraud can be summarized as follows (see Young 2004, pp. 11–13): 1. It generally doesn’t origin from conscious dishonesty. It doesn’t start… …fraud starts with little alterations of results (typically in the form of borrowing from future quarters). It doesn’t start with a grand plan or… …. 5. The fraud grows over time. As the fraud grows deeper, the perpetrators end up taking positions that are truly indefensible and clearly violate…

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• Ausbildungsbeginn Certified Compliance Expert 2010

  …zwölfmonatigen Ausbildung zum Certified Compliance Expert (CCE). Interessenten erlangen Fachwissen in den Bereichen Compliance und Fraud Management und haben… …branchenübergreifend an Bewerber mit spezialisierten Vorkenntnissen. Sie können sich so weiter qualifizieren, um damit das Know-how im Bereich Compliance und Fraud… …[url]http://www.school-grc.de|www.school-grc.de[/url] oder telefonisch unter +49 30 275 817 48 0. Quelle: ZRFC Risk, Fraud & Compliance, Heft 2/2010…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 9: Cendant/CUC (1998)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in U.S. Companies 66 Case 9: Cendant/CUC (1998) The Cendant Corporation was formed in December 1997 by a merger of two com-… …creation of Cendant, a significant accounting fraud came to light at the CUC division. Before Enron, the case was considered the biggest accounting fraud… …ever. From its beginnings in 1983, the fraud was directed by Walter A. Forbes, CUC’s chairman and CEO, and his top lieutenant, E. Kirk Shelton, CUC’s… …president and COO. Commenting on the fraud, one FBI agent said: “Some people have referred to this as a case of earnings management. But this is an attempt… …Street analysts expected. In the earlier years, however, an important part of the fraud was improper revenue and expense recognition. CUC stated that its… …totally fictitious, including, for exam- ple, USD 500 million over the three-year period from fiscal 1995 to 1997. One fraud investigator commented: “It… …extended amortization periods. By shifting current expenses to a later period, the company further inflated its reported earnings. Accounting Fraud in… …U.S. Companies 67 In later years, the fraud extended well beyond improper revenue and expense rec- ognition practices. As time went on and… …improperly charged asset write-offs and other operating expenses against these acquisition reserves. By far, the largest part of the CUC fraud came from… …had been created, Forbes and Shelton congratulated each other on being masterful “financial engineers” who had been able to nurture the fraud through…

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