Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 19: Adelphia Communications (2002)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …prosecutions in U.S. history. The SEC called it “one of the most extensive financial frauds ever to take place at a public company”. However, the thing that… …of all the cases. It should become a show-and-tell in all busi- ness schools as the antithesis of public company management and stewardship.” In… …March 27, 2002, when it disclosed that the Rigas family had borrowed USD 2.3 billion from banks through various family-owned partnerships, using… …was already too deeply in debt. Barraged with questions, the company stated that it reviewed its accounting and would not meet the deadline for filing… …series of sham transactions (backed by fictitious documents) to give the false impression that it had actually repaid debts when, in truth, it had simply… …shifted them to off-balance sheet affiliates. Furthermore, it cre- ated misleading financial statements by giving the false appearance (through the use of… …footnotes) that the listed liabilities included all outstanding bank debt. Because Adelphia massively understated its liabilities, it falsely represented in… …public filings that it was complying with financial covenants and related financial ratio require- ments, when it was not. Misrepresentations… …secretly inflated its basic cable subscription numbers to make inves- tors think it was still growing at a healthy pace and expanding its customer base. For… …plant that had been “rebuilt” or made “two-way capable”, in order to convey the false impression that it had modernized its network. For Adelphia…

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• eBook-Kapitel aus dem Buch Auditing Payroll

  Payroll System

  DIIR – Deutsches Institut für Interne Revision e. V.

  …, time-consuming process subject to considerable change pressure. IT software applications developed by specialized companies are regularly used for this purpose… …and in a few countries – even if SAP is otherwise used. While the audit activities presented here do not replace an IT audit, they may be carried out… …pay- roll. 3.2 Manual or System-Based Payroll Whether IT software is used to determine pay components depends on the scope and complexity of legal and… …and tax problems. • Auditing system security is usually the responsibility of the IT Audit department or corresponding specialists. • Within the… …soft- ware, fraud • Have the changes been tested? If so, by whom – IT or business users? • Is there a mandatory testing procedure? 3 The payroll…

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• eBook-Kapitel aus dem Buch Auditing Payroll

  Introduction

  DIIR – Deutsches Institut für Interne Revision e. V.

  …7 1 Introduction Handling monthly payroll accounting can be a complex and challenging task for companies, especially when it comes to legal and… …entail many risks for companies. Given that staff is one of the major cost factors in most companies, it is es- sential to ensure that the payroll… …potential risks and to ensure compliance with le- gal and regulatory requirements. IT systems are often used to process payroll, and these systems can be…

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• eBook-Kapitel aus dem Buch IT-Unterstützung für Interne Revision und Wirtschaftsprüfung

  Ausblick

  Dr. Heinrich Schmelter

  …unvollständigen Kenntnisse der IT bzw. ihrer Potenziale bei Revisoren und IR-/WP-Leitern. In den IR weitgehend üblich ist inzwischen der fallweise Einsatz von… …einge- setzt werden können. – Hinsichtlich des in diesem Buch propagierten Einsatzes von IT- Standardanwendungen können die jeweiligen IR-Abteilungen und… …systematischen IT-Anwendung in IR und WP muss deren Ein- satz aber insbesondere von den IT- und WP-Leitern umfassend eingefordert und massiv unterstützt werden… …ternettechnologie zu nennen: Über das Internet ist es möglich, auf Daten und IT- Anwendungen auch von IR und WP weltweit von jedem Ort aus zuzugreifen. Bei der… …systematischen IT-Anwendung in IR und WP muss der IT- Einsatz aber insbesondere von den IT- und WP-Leitern umfassend eingefor- dert und massiv unterstützt werden…

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• eBook-Kapitel aus dem Buch Operational Auditing

  Operative Supportprozesse 1: IT-Prozesse und IT-Revision

  Prof. Dr. Volker H. Peemöller, Joachim Kregel

  …Informationstechnologie (IT) ist für den Revi- sor in allen Prozessprüfungen eine besondere Herausforderung. Die Standards des IIA verlangen vom Revisor bzw. IT-Revisor… …: IT-Prozesse und IT-Revision Zusätzlich wird von ihm verlangt, dass er sich sehr schnell in die speziellen IT- Probleme des Unternehmens-Prozesses hineindenken… …der Vorstand von der IT eine Vereinheitlichung der Datenbankstruktur. ____________ 271 IIA-Standards 1200, 1210, insbesondere 1210.A3, bei… …. 10 Operative Supportprozesse 1: IT-Prozesse und IT-Revision 308 Die IT bietet einen Match272 der beiden Kundendatenbanken an. Der Match führt zu… …dieser Daten- migration kann nun Wochen und Monate dauern, verbunden mit gegenseitigen Schuld- zuweisungen von IT und Vertrieb. An dem geschilderten… …zu definieren, im oberen Bei- spiel Vertrieb, heißt das noch lange nicht, dass dieser Prozess auch funktioniert. 4. Die Beschränkung der IT auf reine… …Entscheidungen einbinden lässt, oder nur“nerven“, wenn sie später immer wieder in ihren Berichten auf die Unvollkommenheiten der IT- und Daten- landschaft… …verweist. In diesem Kapitel werden wir uns diesen und weiteren anderen Themen der Prüfung von IT schrittweise nähern. Von der Grundlagen der ITK… …IT-Revision, der die Themen dann noch technischer und detail- lierter untersuchen und darstellen wird. 10.1 Grundlagen der IT Fast jeder benutzt heute… …bedeutet hier einen automatischen Datenabgleich der Primärschlüsselfelder Kundenvor- und nachname, Kunden-Adresse. 10.1 Grundlagen der IT 309 wir…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  International Professional Practices Framework – Overview of the current guidance of the Institute of Internal Auditors

  T. Flemming Ruud, Philipp Friebe, Daniela Schmitz, Shqiponja Isufi

  …Framework which came into effect on January 1, 2009. Although the new framework is consistent with the previous framework, it contains some significant… …established itself as the struc- tural basis for the activities of the Internal Audit. It is a self-contained framework which is recognized internationally by… …summer 2007. In order to emphasize the international focus of the framework, it was renamed as the International Professional Practices Framework (IPPF)… …consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a… …perform audit engagements. In order to effectively help the board and the management, it is necessary that the Internal Auditors behave in a professional… …IT audits and other IT-related issues. ___________________ 9 Cf. The IIA (2009a), p. iii. 10 Cf. The IIA (2009a), p. v. 11 Cf… …. Significance The relative importance of a matter within the context in which it is being con- sidered, including quantitative and qualitative factors, such as… …reasons of independence. Standard 2110.A2 specifies that the Internal Audit activ- ity must assess whether the IT Governance of the organization supports… …2430 makes it clear that Internal Auditors may report that their engagements are conducted in conformance with the Standards only if the results of the… …and transparent processes. These processes make it possible for the IIA to issue guidelines faster. They also provide Internal Auditors with the…

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• eBook-Kapitel aus dem Buch Revision des Finanzwesens

  Einführung

  DIIR – Deutsches Institut für Interne Revision e. V.

  …11 Einführung Die dynamische Entwicklung auf den Finanz- und Kapitalmärkten, der IT und der Technologien insgesamt sowie die wachsenden…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Chapter 4: Conclusion and Outlook

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …, relatively infrequent in occurrence), and it must be shocking (that is, counter to our norms and values). Wilson argued that the public pays little attention… …sible for fighting fraud, one inevitable reality remains: “fraud happens”. It is a given that economic crime will always be with us. Eliminating fraud is… …a super- human task. However, a review of the scandals shows that in most of the cases, it is basically the same common pattern. A company faced… …. Often it starts as a one-shot deal to meet short term fi- nancial expectations. But it escalates to ongoing fraudulent activity until, with some… …accounting fraud can be summarized as follows (see Young 2004, pp. 11–13): 1. It generally doesn’t origin from conscious dishonesty. It doesn’t start… …because the CEO is dishonest, or because the CFO is dishonest. It also doesn’t start because the company had the misfortune of hiring a group of dishonest… …employees in its accounting department. 2. It origins from pressure. In particular, it starts with an environment in which two things are present… …: challenging targets of financial performance, and the perception that missing these targets will be viewed as unforgivable. 3. It starts out small. The… …fraud starts with little alterations of results (typically in the form of borrowing from future quarters). It doesn’t start with a grand plan or… …conspiracy. Often, the one or two perpetrators don’t even realize that they are stepping over the line and might be violating accounting standards. 4. It…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Doing More with Less

  Neil Baker

  …does, and why it is important. He’s been making real progress. So how does he feel now that his budget is being cut? “If I was a newly minted auditor… …organisations. If I know in advance that I’m going to be somewhat resource constrained, then I can deal with it.” Despite the stoicism, Storms says he argued… …losing controls; it might even be a time to strengthen them,” he says. Storms is not alone. Other internal auditors have been waging the same battle, try-… …piece of a shrinking budget pie. So does internal audit really deserve special protection? And if it does have to take a share of the pain – which seems… …. He told the audit committee that performing fewer audits was better than cutting quality. How did the committee respond? “I’ll put it this way: It… …. The head of internal audit should ask the committee what areas it wants to priori- tise, he says. “It’s easy for chief audit executives to start by… …department wants to cut the budget? “If the chief financial officer has decided that the audit function should be reduced, it is vital for the audit com-… …mittee to be aware of that,” Chambers says. And if the committee members don’t know about it, internal audit should tell them, he adds. “I would never… …work on procurement fraud; for example, trying to spot fraudsters who submit fictional invoices in the hope they’ll be paid. It is also checking the… …way contracts are awarded, looking at background checks on suppli- ers, and auditing payroll. “Believe it or not, I even added petty cash audit to the…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  The Financial Sector: Risks, Controls and Assurance after the Financial Crisis

  Daniel Nelson

  …the US, Euro-area, Japan, and the UK – grew up to USD 4.1 trillion or 7 percent on a total stock of USD 57.7 trillion. How was it possible to fall… …countries being represented by their respec- tive heads of state or government. It had never done that before the financial crisis, when only ministers and… …capital for its operations as would have been the case with a lower credit rating. On September 16, 2008 AIG lost its AA- rating (it had already lost… …internal audit. 4 Lessons for Internal Auditors First of all it has been reported that internal audit did not have sufficient or adequate access to… …area in an entity. Nelson 96 It has also been reported that enterprise risk management (ERM) and the finance complex did not have adequate… …funds we can all assume that those resources will be closely scrutinized, particularly in the public media. I submit as discussed earlier that it is… …of the factors contributing to this financial cri- sis. It would be interesting for internal audit to review whether the organization’s compensation… …policies and model are indeed appropriately tailored to its business model or whether it is a risk in itself.…

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