In this context, management intentionally manipulates accounting policies or accounting estimates to improve financial statements. Company assets include everything from office supplies and inventory to intellectual property.įraudulent financial reporting is also known as earnings management fraud. However, misappropriation of assets also includes taking inventory out of a facility or using company assets for personal purpose without authorization. Typically, assets stolen are cash, or cash equivalents, and company data or intellectual property. Misappropriation of assets – often called defalcation or employee fraud – occurs when an employee steals a company's asset, whether those assets are of monetary or physical nature. Two types of fraud Misappropriation of assets
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