• Module 15


    Fraudulent Financial Reports


    Fraudulent financial report schemes include:


    Fictitious revenue schemes, which involve recording fictitious revenue from the sale of goods or services

    Improper timing schemes, which involve recording revenues or expenses in improper accounting periods

    Understating liabilities schemes, which involve concealing or understating liabilities and expenses, capitalizing expenses, or expensing capital expenses

    Improper disclosure schemes involve the improper disclosure of material information, such as contingent liabilities, significant events, management fraud, related-party transactions, or accounting changes

    Improper asset valuation schemes involve the improper valuation of inventory, accounts receivable, fixed assets, intangibles, or other assets


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