Ten Things About Financial Statement Fraud – Third Edition
A review of SEC enforcement releases, 2000–2008
In the “Ten Things About Financial Statement Fraud – Third Edition” report, the Deloitte Forensic Center has analyzed hundreds of Securities and Exchange Commission (SEC) enforcement releases issued from 2000 through 2008 and has compared the most common types of revenue recognition frauds alleged by the SEC in 2007 and 2008.
The report features detailed charts depicting, among other information:
- What types of fraud the SEC is alleging in its enforcement actions;
- Whether some industry sectors are more prone to alleged fraud than others;
- Whether alleged fraud scheme preferences and industry patterns have changed over time; and
- What were the roles of the individuals who were alleged by the SEC to have been involved in financial statement fraud.
These findings may help organizations to understand shifting patterns in financial statement fraud schemes and to develop more robust processes to mitigate the risks of financial statement fraud.
Read more in Edition 17 of ForThoughts, attached below.
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