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SAS 99 defines fraud as an intentional act that results in a material misstatement in financial statements. There are two types of fraud considered: misstatements arising from fraudulent financial reporting (e.g. falsification of accounting records) and misstatements arising from misappropriation of assets (e.g. theft of assets or fraudulent expenditures).
Historical financial statements. Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.
The Institute of Indonesia Chartered Accountants, formerly Indonesian Institute of Accountants or Ikatan Akuntan Indonesia (IAI) is the national organisation of professional accountants in Indonesia.
The arm's length principle (ALP) is the condition or the fact that the parties of a transaction are independent and on an equal footing. [1] Such a transaction is known as an "arm's-length transaction".