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Print Hot Recipes for Cookin’ the Books

April 27, 2015, 07:26 AM
Filed Under: Industry News
Related: CFO Magazine, Fraud

In a recent article,'s Joe St. Denis notes CFOs are well aware of the more common ingredients of financial fraud: bogus or premature revenue recognition, improper capitalization or valuation of assets, and the misuse of accruals to smooth earnings. Along with their audit committees, they expend plenty of effort designing internal controls to prevent such misdeeds.

St. Denis explains, that as with nouveau cuisine, the recipes in the financial-fraud cookbook are constantly evolving, and it takes vigilance and determination to design and operate systems to keep them out of the kitchen or detect their presence if they sneak in. Following are some fairly recent updates to the menu.

Read the entire article here.

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