WorldcomAccountingFraud-世通财务造假案例分析报告.pptxVIP

ACCOUNTING FRAUD AT WORLDCOM ;WorldCom Overview;;Financial Highlights;Definition : Accounting fraud is the intentional misrepresentation of financial statements in order to obtain wrongfully an advantage, retain a benefit, or avoid a detriment ;Pressure to “cook the book” a) The growing pace of income is generally slowing down b) Driven by interests (political interest like personal fame and image in the public, economical interest );Typical methods to “cook the book” Cost of assets Inventory is not real Fixed asset is fake Unreal liabilities Accounts payables is overvalued