Fair Value Accounting Fraud: New Global Risks and Detection Techniques

  Fair Value Accounting Fraud: New Global Risks and Detection Techniques 

By Gerard M. Zack, CFE, CPA  



Fair Value accounting is emerging as the next prime opportunity for financial statement fraud. Explaining the many complex applications of fair value accounting in the preparation of financial statements, Fair Value Accounting Fraud offers timely guidance on an up-and-coming issue as U.S. and international accounting rules pertaining to the use of fair value accounting continue to change.

You'll Find Discussion of:


U.S. GAAP and IFRS rules on fair value accounting issues, highlighting the areas most vulnerable to fraud

Explanations of 75 categories of fair value accounting fraud schemes

Fraud risk checklist that you can put to immediate use

Practical detection techniques useful for auditors, investigators and others who rely on financial statements

Expert advice from Gerard Zack, CFE, CPA, author of Fraud and Abuse in Nonprofit Organizations: A Guide to Prevention and Detection 

Comparing US accounting standards to International Financial Reporting Standards-thereby making this book useful worldwide- Fair Value Accounting Fraud helps you understand the new rules and develop new auditing and investigative techniques to enable you to detect potential fraud.


Product Details:

Copyright 2009
Hardcover, 250 pages
John Wiley & Sons

Table of Contents:


Chapter 1: Overview of Financial Statement Fraud and Fair Value Accounting

Chapter 2: The Use of Fair Value in Financial Statements

Chapter 3: Methods of Determining Fair Value

Chapter 4: Investments in Debt and Publicly Traded Equity Securities

Chapter 5: Ownership Interests in Nonpublic Entities

Chapter 6: Loans and Receivables

Chapter 7: Intangible Assets and Goodwill

Chapter 8: Business Combinations

Chapter 9: Asset Impairments

Chapter 10: Property and Equipment (Including Investment Properties)

Chapter 11: Debt Obligations

Chapter 12: Deferred Revenue

Chapter 13: Asset Retirement Obligations

Chapter 14: Guarantees

Chapter 15: Derivatives and Hedging

Chapter 16: Assets or Liabilities of Sponsors of Employee Benefit Plans

Chapter 17: Contingencies and Provisions

Chapter 18: Share-Based Transactions

Chapter 19: Nonmonetary Transactions

Chapter 20: Special Fair Value Issues of Not-for-Profit Organizations

Chapter 21: Fair Value Disclosure Issues

Chapter 22: A Framework for Detecting Fair Value Accounting Fraud

Chapter 23: Use of Ratios and Other Analytical Procedures

Appendix A: Summary Checklist of Fair Value Accounting Fraud Risks

Appendix B: SEC Office of the Chief Accountant and FASB Staff Clairifications on Fair Value Accounting

Appendix C: Internal Controls over Fair Value Accounting Applications