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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 12: Enron (2001)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in U.S. Companies 80 Case 12: Enron (2001) Perhaps more than any other company facing scandal in recent years, Enron stands… …out as the poster child for corporate fraud. The crimes of Enron’s top executives resonated the most in the public mind, and the company’s name has… …become synonymous with corporate malfeasance. However, compared to other accounting frauds, the Enron fraud was very complicated; it involved many… …reports. They didn’t have to lie. All they had to do was to obfuscate it with sheer complexity – although they lied, too.” The impact of the fraud was… …since October 1929”. Besides, the fraud ushered in a wave of prosecutions against white-collar crime at the highest levels of American business, and it… …U.S. Accounting Fraud in U.S. Companies 81 borders; “Enron International”, a wholly owned subsidiary, was created to manage energy assets… …resigned, citing “personal reasons” (August 14); he was replaced once again by Kenneth Lay. Accounting Fraud in U.S. Companies 82 - Sherron Watkins… …transactions that involved setting up complex special purpose entities. Accounting Fraud in U.S. Companies 83 Enron’s financial reporting (I)… …Fraud in U.S. Companies 84 forward markets in the services Enron promised to provide; extremely optimistic numbers were simply conjured up out of… …structure in order to create false profits, to hide losses and to understate liabilities. It may be helpful Accounting Fraud in U.S. Companies 85…

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• eJournal-Artikel aus "Risk, Fraud & Compliance" Ausgabe 6/2015

  Umfeldinformationen zu Risk, Fraud & Compliance

  Zusammengestellt von der ZRFC-Redaktion

  …und vermitteln mir wichtige Fachkenntnisse aus den Bereichen Governance, Risk, Compliance und Fraud Management, die ich auf meinem weiteren beruflichen…

• Zertifikatslehrgang: Healthcare Compliance Officer HCO geht in die nächste Runde

  …www.school-grc.de/studium_weiterbildung/healthcare-compliance-officer-hco.Quelle: ZRFC Risk, Fraud & Compliance Heft 2/2019…
• eBook-Kapitel aus dem Buch Handbuch Compliance-Management

  Produktbezogene Täuschungen: Risiken an der Schnittstelle von Produkt-Compliance und "Fraud"-Prevention

  Carsten Momsen, Thomas Grützner, Björn Boerger

  …Produkt-Compliance und „Fraud“- Prevention Carsten Momsen*, Thomas Grützner**, Björn Boerger*** Inhaltsübersicht 7.2.1 Einleitung…
• eBook-Kapitel aus dem Buch Handbuch Arbeits- und Unternehmenssicherheit in Kreditinstituten

  Dolose Handlungen

  …richten. Die Täter werden als Defraudanten bezeichnet (aus dem englischen Begriff „Fraud“). Dolose Handlungen sind vorsätzliche oder grob fahrlässige… …Corporate Governance Kodex � SAS 99 (Consideration of Fraud in a Financial Statement Audit) � IDW PS 210 (zur Aufdeckung von Unregelmäßigkeiten im Rahmen… …Wahrscheinlichkeit der Entde- ckung erhöht wird. In größeren Unternehmen werden Anti- Fraud- Management Systeme instal- liert, die solche Handlungen verhindern oder… …aufklären sollen. Die Bekämpfung von „dolosen Handlungen“ besteht lt. „Anti- Fraud- Manage- ment“ aus drei grundsätzlichen Prozessen: � Prävention �…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 11: American Tissue (2001)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in U.S. Companies 75 Case 11: American Tissue (2001) Mehdi Gabayzadeh may not be as familiar a name as Adelphia founder… …. district attorney said, noting that the fraud cost lenders and bondholders about USD 300 million, and ultimately cost 2,700 employees their jobs. In… …ran into all sorts of obstacles) commented: “The more we investigated, the more fraud we uncovered.” American Tissue was founded in 1981 by two… …the books – in what the indictment later said was a futile effort to gain new Accounting Fraud in U.S. Companies 76 financing, even as it was… …, the affiliated companies, together with Accounting Fraud in U.S. Companies 77 the Gabayzadeh and Elghanayan families, owed American Tissue… …. In July 2001, the fraud was uncovered when it was figured out that the numbers at American Tissue didn’t add up. Two months later, the company… …and otherwise helped American Tissue destroy records that might have supported accusations of accounting fraud. “The paper trail of phony sales… …transactions, bogus supporting Accounting Fraud in U.S. Companies 78 documentation, and numerous accounting irregularities ended quite literally with… …defunct, gained notoriety for helping Enron cover up fraud. Gabayzadeh was accused of stealing nearly USD 300 million from banks, financial… …in the indictments, Gabayzadeh was convicted of spearheading a USD 300 million fraud. His sentencing was delayed several times because his attorneys…

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• eJournal-Artikel aus "Zeitschrift Interne Revision" Ausgabe 5/2019

  Aus der Arbeit des DIIR

  …auch in deutscher Sprache. Nun sind gleich zwei interessante Beiträge erschienen, die sich mit ganz unterschiedlichen Themen beschäftigen. Fraud und… …Interne Revision – Prüfungssicherheit hinsichtlich erfolgskritischer Fraudkontrollen Jedes Jahr gehen Milliardenbeträge aufgrund von Fraud und Korruption… …Katastrophen führt. Fraud tritt häufig dann auf, wenn schlecht konzipierte Kontrollen und eine schwache Governance die Prozesse der Organisation untergraben… …. Organisationen sollten über robuste in- terne Kontrollen verfügen, um das Risiko für Fraud zu begrenzen. Die Interne Revision hat dabei die Aufgabe, diese…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 34: Royal Ahold (The Netherlands, 2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in European Companies 199 Case 34: Royal Ahold (The Netherlands, 2003) By the late 1990s, Royal Ahold N.V. ranked among… …have operated continuously (and honourably) for 100 years. However, shortly after the turn of the century, a case of Enron-style accounting fraud… …Amsterdam. “So many things have happened in the United States, but this is the first really large-scale fraud case we’ve seen on this side of the ocean.”… …goals ultimately became unreachable. Accounting Fraud in European Companies 200 In 2002, Ahold faced trouble in Latin America: operating… …Michiel Meurs, each of whom had been implicated in the accounting fraud. Standard & Poor’s and Moody’s slashed Ahold’s credit rating, and the… …retailer announced that the fraud was much more extensive than previously thought. Ahold said that the American subsidiary’s earnings had been overstated… …certain foreign joint ventures through fraudulent side letters. Accounting Fraud in European Companies 201 The earnings fraud at U.S… …confirmation letters were often inflated by millions of dollars and by more than Accounting Fraud in European Companies 202 100%. In most of the cases… …confirmation process at USF was systematically corrupted in order to help keep the fraud from being discovered. The SEC complaint alleged that USF… …by the SEC with aiding and abetting the fraud. Scott Friestad, associate director of the Commission’s division of enforcement, commented: “These…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 25: Bernard Madoff (2008)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Accounting Fraud in U.S. Companies 159 Case 25: Bernard Madoff (2008) In December 2008, as the global financial crisis continued on its… …stunning fraud that appears to be of epic proportions”, and the Economist called it “the con of the century”. Needless to say, the unprecedented scope of… …the fraud was far beyond the reach of all of the other recent scandals of the financial system. Bernard Madoff started his financial career at… …appeared to believe in loyalty and Accounting Fraud in U.S. Companies 160 honesty,” said one former Madoff employee in retrospect. “Never in your… …profits generated by share trading. Eventually, Madoff admitted in this conversation that he estimated the losses from the fraud were at least USD 50… …, and charged with securities fraud. When federal agents arrived at Madoffs’ apartment, he told them: “There is no innocent explanation. I have paid… …simplicity, one of the most puzzling issues of the Madoff fraud was that the majority of the victims had an expert knowledge of financial investment: they… …Wall Street, there had been scepticism for years over how Madoff managed to pay such consistently high Accounting Fraud in U.S. Companies 161… …returns. The SEC admitted that it had missed “repeated opportunities” to discover the fraud. It had received “credible and specific allegations regarding… …than each final investor. Thus, he was able to avoid the SEC disclosure rules. But when the SEC changed regula- Accounting Fraud in U.S. Companies…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 26: Juergen Schneider (Germany, 1994)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …165 2.2 Accounting Fraud in European Companies Case 26: Juergen Schneider (Germany, 1994) Up to the year 1994, a number of scandals… …over mismanagement and fraud emerged in Germany, but the “Schneider case” was by far the biggest. The case is linked to an exceptional bank scandal. In… …for several years before collapsing and casting Schneider under the suspicion of credit fraud, fraudulent invocation of bankruptcy and tax evasion. He… …verified something as basic as the size of the property it was lending on. Accounting Fraud in European Companies 166 Schneider also appeared… …explic- itly whether there were any supplementary contracts. Deutsche Bank claimed that it was the victim of systematic fraud. Hilmar Kopper, at the… …contractors and craftsmen, causing repeated embarrassment. Bank credi- Accounting Fraud in European Companies 167 tors demanded detailed information… …properties and paying off contractors. Instead he chose to run away. Accounting Fraud in European Companies 168 The reason for all the public… ….: Great Financial Disasters of our Time, 2nd edition, Berlin 2006, p. 27 Schneider fraud inquiry launched, The Independent, April 15, 1994 Kohl Assails… …Banks in Schneider Fiasco, International Herald Tribune, April 21, 1994 Deutsche Bank “victim of fraud”, The Independent, April 26, 1994 When the Music… …Independent, July 6, 1994 German Fraud Case May Raise Conflict, The New York Times, May 25, 1995 International Business: Germans Are Gripped by the Return of…

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