Overview:
Financial reporting and its complexities often hide the true nature of corporate activities, and reporting is used to mask unethical conduct.
Because of this the need for transparency has never been greater.
The objective of this presentation is to advise on how the Balance Sheet can be manipulated for various vested interest parties, and to serve as a guide for professionals on how to identify potential frauds in the financial statements and set out ways to mitigate such manipulation of the statements.
Key Features:
What is the purpose of the Balance Sheet?
Why is it important
Critical areas of attention on the Balance Sheet
Notes to the Balance Sheet
Common Manipulations:
- Incorporation Issues – creating a Balance Sheet
- Revenue Recognition & Inflation
- Revenue and Expense Manipulation
- Related Parties issues
- Asset Overstatement
- Inventory valuation
- Unrealised gains
- Depreciation & Amortisation
- Cash
- Off Balance Sheet financing / hidden liabilities
- Liability underreporting
- Balance Sheet manipulation