全球公司会计舞弊和改革行为-外文文献翻译译文.doc

外文文献翻译译文 原文 Global Corporate Accounting Frauds and Action for Reforms 1、Introduction During the recent series of corporate fraudulent financial reporting incidents in the U.S., similar corporate scandals were disclosed in several other countries. Almost all cases of foreign corporate accounting frauds were committed by entities that conduct their businesses in more than one country, and most of these entities are also listed on U.S. stock exchanges. Following the legislative and regulatory reforms of corporate America, resulting from the SarbanesOxley Act of 2002, reforms were also initiated worldwide. The primary purpose of this paper is twofold: (1) to identify the prominent American and foreign companies involved in fraudulent financial reporting and the nature of accounting irregularities they committed; and (2) to highlight the global reaction for corporate reforms which are aimed at restoring investor confidence in financial reporting, the public accounting profession and global capital markets. 2、Cases of Global Corporate Accounting Frauds The list of corporate financial accounting scandals in the U.S. is extensive, and each one was the result of one or more creative accounting irregularities. Exhibit 1 identifies a sample of U.S. companies that committed such fraud and the nature of their fraudulent financial reporting activities. EXHIBIT 1. A SAMPLE OF CASES OF CORPORATE ACCOUNTING FRAUDS IN THE U.S.A. Adelphia Communications Founding family collected $3.1 billion in off-balance-sheet loans backed by company. Earnings were overstated by capitalization of expenses and hiding debt. AOL Time Warner Barter deals and advertisements sold on behalf of others were recorded as revenue to keep its growth rate high. Sales were also boosted via round-trip deals with advertisers and suppliers. Bristol-Myers Squibb Inflated 2001 revenues by $1.5 billion by channel stuffing, forcing or giving inappropriate incentives to wholesalers to accept more inventory than they