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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).
Turnover in accounting personnel or other deficiencies in accounting and information processes can create an opportunity for misstatement. As for misappropriation of assets, opportunities are greater in companies with accessible cash or with inventory or other valuable assets, especially if the assets are small or easily removed.
(2) For purposes of this section a person who makes or concurs in making in an account or other document an entry which is or may be misleading, false or deceptive in a material particular, or who omits or concurs in omitting a material particular from an account or other document, is to be treated as falsifying the account or document. [1]
Entergy released a statement yesterday outlining details of the arrest of a former employee on Tuesday on federal charges of falsifying documents at the company's Indian Point Energy Center in ...
Some commentators talked about data falsification. Others held a completely different viewpoint. "Irregularities" (the word falsification never officially used) in deficit reporting were also revealed for other Eurozone members, most notably Italy and Portugal, [ citation needed ] with significant revisions imposed.
With starting points in hand, Cooper told her "techie" Morse to peruse the accounting system and look for any references to prepaid capacity. He eventually was able to locate one and took this information to Cooper. Since this only represented one side of the entry, she asked him to trace it through the system. Morse took all he could find to ...
The maximum sentence for falsification of business records is four years imprisonment. Six legal experts - including defense lawyers and former prosecutors - told Reuters it was rare for people ...
The offense of falsifying business records is commonly prosecuted in New York, and it is a frequent part of white-collar crime prosecutions brought by district attorneys' offices. [ 3 ] [ 1 ] For example, the Manhattan district attorney's office , from January 2022 through April 2023, brought 117 felony counts of falsifying business records ...