Financial statement fraud

[Samuzor]

I agree with you, financial statement fraud is a very serious issue, and mist not be over looked, this is a very important issue, of which needs to be eradicated

 

[Suba]

Financial statement fraud means that there is fraud by manipulating data for personal gain and will harm other people and the government (tax), it is definitely an act of breaking the law that will be prosecuted even in fines and imprisonment.

 

[Starmix]

@Suba and @Samuzor, you are all right. This case is serious and the culprits must be sanctioned accordingly. This is an issue that is invisible by the management or wide awake. Financial statement fraud is manipulated mostly by accountants as per order by someone who could be the manager of the company. If it is a government owned company, the fraudster will be investigated and penalized.

 

[Suba]

In financial statement fraud, those who will be punished the most severely are the masterminds of the crime or the person who gives the orders, usually the owner or top brass of the company. Because of his actions, manniopulation occurs and low quality accountants pay expensively.

 

[Starmix]

There is lways a master mind of this financial fraud. There are many occurrences here in my country on financial statement fraud including the politicians, and high-ranking officials in the military and police.Many were jailed there but it took years for the government agency to catch the culprit.

 

[Heatman]

They would publish fake statement of account so that it will shield their illicit activities.

It is always a very serious challenge dealing with companies that are always taking this kind of pattern when it comes to running their business activities because you will not know when they are lying to you or not.