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Overview, History, and Overall Objectives of Auditing Read chapter Read first chapter

2018 | OriginalPaper | Chapter

23. Corporate Governance, Accounting, and Auditing Scandals

Author : Felix I. Lessambo

Published in: Auditing, Assurance Services, and Forensics

Publisher: Springer International Publishing

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Abstract

A management team facing the pressure to make the number or to defeat market expectations would be inclined to cook the books in order to achieve the short-term goal assigned to it. This is often facilitated when there the institutions has no sound corporate governance. Pressure, opportunity, and rationalization are the soul of all accounting frauds.

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Appendix
Available only for authorised users
Footnotes
1
Jean-Claude Lombois (1989): Droit Pénal et Sociologie Criminelle, LGDJ.
 
2
Jean-Claude Lombois (1989): Droit Pénal et Sociologie Criminelle, LGDJ.
 
4
See SEC Settles Civil Fraud Charges Filed Against Richard A. Causey, Former Enron Chief Accounting Officer; Causey Barred From Acting as an Officer or Director of a Public Company (U.S. Securities and Exchange Commission (“SEC” or “Commission”) Litigation Release No. 19996, February 9, 2007).
 
5
Cheol S. Eun and Bruce G. Resnik (2015): International Financial Management, McGraw Hill, 7th Edition, p. 102.
 
6
Jill Solomon (2010): Corporate Governance and Accountability, Wiley, 3rd Edition, p. 37.
 
7
The Economist, Feb 7, 2002.
 
8
Waste Management Founder, Five Other Former Top Officers Sued for Massive Fraud- Litigation Release No. 17435 (2002).
 
10
William F. Messier (2012): Auditing & Assurance Services, McGraw Hill, 8th Edition, p. 715.
 
11
Amanda Beck, Reuters, Mar 27, 2008.
 
12
Michael J. Missal and Lisa M. Richman (2008): New Century Financial: Lessons Learned, Mortgage Banking, October.
 
Metadata
Title
Corporate Governance, Accounting, and Auditing Scandals
Author
Felix I. Lessambo
Copyright Year
2018
Book
Auditing, Assurance Services, and Forensics

Print ISBN: 978-3-319-90520-4

Electronic ISBN: 978-3-319-90521-1

Copyright Year: 2018

DOI
https://doi.org/10.1007/978-3-319-90521-1_23