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Please read the article in Forbes “Research Sheds New Light On How Corporate Fra
Please read the article in Forbes “Research Sheds New Light On How Corporate Fraud Is Perpetuated”, (February 28,2020)
The article discusses “managers attempting fraud strategically choose to omit expenses because they believe this type of manipulation will be easier to explain away as a simple mistake if detected”. This strategy appears to work as the article goes on to state “the auditors were more likely to classify omitted expenses as unintentional errors and active manipulations of revenue as fraud attempts”.
Corporate fraud has been responsible for the loss of a company’s reputation, employees losing their jobs, investor losses and companies going out of business. When a company’s earnings are likely to fall short of analyst expectations executives may risk engaging in fraudulent activities, such as omitting expenses.
Why do you think executives are willing to engage in fraud rather than admitting the company is not performing up to expectations with the potential risks involved if their fraud is discovered?
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