Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 41: Livedoor (Japan, 2006)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …closely watched in Japan, not only because Horie was a celebrity, but also because it was seen as a test of how serious the authorities were about… …University, Horie built Livedoor by combin- ing a portal site with online brokerage and banking as well as a host of other inter- net services. (It offered… …: “It’s a world of connections, that’s it. If you are young, have no connections and you are from a modest family, there’s nothing you can do, your whole… …price: the deal involved a publishing firm that Live- door apparently already owned. Livedoor had arranged for an investment group it controlled to buy… …, in April 2006, Livedoor lost its listing. The TSE said the company had so far failed to clear up the suspicions that it had deceived investors… …prison. The presiding judge at the Tokyo district court said it was an extremely malicious crime that caused great damage to investors; the company’s… …invited criticism that he was singled out while others found guilty of similar violations had been let go with much lighter penalties. In Japan, it is… …, but the court ruled it was black.” Horie’s defence team tried to portray him as a meek chief executive who relied so heavily on advisers that they… …Court rejected Horie’s appeal of the district court conviction. The appeals court said it agreed with the ruling, arguing that Horie as chief executive… …issue. One Tokyo lawyer said: “It is all politics. Everyone thought this was going to be the next Enron, but now that the dust has settled, it looks to…

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• eJournal-Artikel aus "Zeitschrift Interne Revision" Ausgabe 2/2010

  Buchbesprechungen

  Reiner Eickenberg

  …heutigen regulatorischen Anforderungen an die IT. Das Buch richtet sich daher an alle Leser, die sich mit den Themen IT-Governance und IT-Compliance… …als Modell für IT-Sicherheit, IT-Revision, IT-Risiko-Management wie auch IT- Compliance dienen kann. Kapitel 3 stellt die verschiedenen Treiber der… …Anforderungen ergeben bzw. auch welchen Wertbeitrag IT- Compliance liefert. Die Kapitel 7 bis 9 befassen sich schwerpunktmäßig mit dem Management der… …(IT-) Compliance unterstützen. Neben verschiedenen Standards oder Rahmenwerken (z. B. CobiT, BSI) werden auch verschiedene Compliance-Management Software… …IT-Compliance Risiken durch Outsourcing der IT und die daraus resultierenden besonderen Anforderungen besprochen. Das Buch ist aufgrund seiner Themenbreite, der…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  A Practice Aid for Auditors: Fraud Interviews – An Inquiry Guide

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …practice aid designed to help the audit team to plan and tailor these fraud interviews as required by the international auditing standards. It in- cludes… …all the relevant topics to be covered with suggested questions. It is not meant to be used as a questionnaire, seeking answers to each question in… …monitor operating locations? How does it monitor these locations and what has it found? – Are there locations, business segments, activities or… …fraudulent financial reporting or misappropriation of assets? – Where in your organization would it be the easiest to commit and/or the hardest to detect… …how it believes the internal control structure serves to prevent and detect material misstatements due to fraud? If so, what was reported?… …controls through year-end adjustments or significant unusual transactions? – Does internal audit monitor operating locations? How does it monitor these… …locations and what has it found? – Is internal audit concerned about the integrity (as it may relate to fraudulent financial reporting or misappropriation… …Officer / Chief Ethics Officer – Has the company established an ethics code? If so, how was it introduced? Is it a helpful guidance on ethical… …dilemmas? Does it cover international dimensions? How openly are ethical issues discussed? Is the process of communication effective? – What… …company’s IT internal control? How do you believe the IT internal control structure serves to prevent or detect material misstatements due to fraud? Please…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 39: Seibu Railway (Japan, 2004)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …than God: suspected Tsutsumi arrested.” Troubles began in October 2004 when it emerged that Seibu Railway had falsified shareholder information in… …Stock Exchange. The scandal deepened after it was found that from August through October 2004, Kokudo sold some of its shares in Seibu Railway… …without telling buyers that the railway firm’s stock ownership conditions made it subject to delisting. Tsutsumi and other Kokudo executives privately… …Holdings, among others. (Shiseido, e.g., said it had bought the Seibu shares only due to its “long-term business relationship” with Kokudo.) Besides… …lists of shareholders to make it look as if the company was more widely held than it actually was. As Kokudo’s largest shareholder, he hid the extent of… …financial statements to show that Mr. Tsutsumi and Kokudo owned most of Seibu, not just a minority stake. The scandal also took a high human toll: it… …that it deeply regretted the recent developments. “We’ll do our best to become a transparent company which can be trusted,” it said. The company was… …to protect inves- tors with greater transparency. The content of J-SOX is not entirely the same as that of US-SOX, but it is similar to sections 302…

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

  Internal Auditor – Generalist or Specialist

  Dr. Heinrich Schmelter

  …. ___________________ 73 Dr. Heinrich Schmelter has been working in management functions for 30 years (audit, con- trolling and IT), in the automobile industry. 74… …assigned to it. IT audit usually has employees working in it with very good IT knowledge (mainly computer scien- tists), in purchasing/logistics audit… …. business auditor 2. technical auditor 3. IT auditor 4. special investigator 2 Twelve General and Specific Requirements for Internal Auditors The… …audit methodology 3. Internal control and risk management knowledge 4. Internal audit experience 5. Financial knowledge 6. Technology knowledge 7. IT… …decentralised audits, e.g. in a foreign company or factory, it is also expected that every auditor can report adequately to the local top managers (e.g. factory… …agement specialist knowledge, it also relates to company and process knowledge that is as extensive as possible. While an internal audit beginner… …, thereby formulating best practice process improvement recommendations. It is expected from chief auditors and from internal audit managers that, as… …purchasing, logistics or sales, are also initially sub-optimal. 2.12 Specific IT Knowledge As virtually all of the processes in the companies can now only… …be handled with IT support and personal computers are a matter of course as personal tools, an auditor without good IT knowledge is no longer… …. EXCEL, WORD and POWERPOINT). IT knowledge beyond this, also regarding mainframe computer software, is particularly essential for IT auditors, because…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 28: EM.TV (Germany, 2000)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …. When the company went public in 1997, it still had a tiny EUR 15 million in annual sales. It was one of the first companies to join the “Neuer Markt”… …and Americans wouldn’t have taken the company seriously. And Haffa was one of the most promi- nent examples of entrepreneurs in Germany who struck it… …. But in its chosen niche, cartoons and other children’s programming, it was already much bigger than its competitors. EM.TV controlled about one-third… …world of entertainment. Haffa showed that his prized German programs could make it everywhere else on the Continent. For example, the hit cartoon… …early 2000, shortly after a capital increase, EM.TV started an acquisition spree. For example, in February 2000, it acquired the Jim Henson Company… …forecast.” Haffa added that he would have never expected that it would be possible to be charged in a criminal court. In pleading for their acquittal… …was not executed till autumn. Kirch told the court that he had verbally agreed to the deal in mid-June 2000, and that he considered it to be “a fully… …jail sentence, but they did obtain a crimi- nal fine of EUR 1.2 million for Thomas Haffa and EUR 240,000 for Florian Haffa. It was important for the…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 22: Symbol Technologies (2004)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …in a variety of channel stuffing, known at the company as “three way candy deals”. It paid off smaller resellers to “purchase” Symbol products from a… …crimes (see SEC 2004): – They employed multiple schemes for claiming revenue before it was earned, such as shipping the wrong product when the… …to refrain from scanning new components or returned goods into SAP. Moreover, they arranged transactions with third parties to make it appear that… …Symbol had sold inventory when, in fact, it retained possession of the goods. – Finally, the manipulation of stock option exercise dates had a… …established unrealistic financial performance targets, and he made it clear to executives and employees at all levels that they were expected to do whatever… …it took to achieve those figures. According to the SEC, “there was often a mad scramble at the end of reporting periods to hit the numbers”. Many… …and made a strong commitment “to root out fraud”. It realized that Symbol’s only way to continue as a business was to sever all ties to those engaged… …it agreed to pay a USD 37 million penalty and continue a program to tighten its accounting controls. As part of its settlement of private shareholder…

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• eJournal-Artikel aus "Zeitschrift Interne Revision" Ausgabe 3/2010

  IKS-Simulation – ein „neuer“ Ansatz zur Verbesserung der Akzeptanz und Wirtschaftlichkeit von (IT-)Prüfungen

  Dipl. Math. ETH, CISA, CISM, CGEIT Peter R. Bitterli, Dipl. Wirtschaftsinformatiker Ernst Liniger

  …risikoorientiert geplant und auch so durch geführt wird. Dabei müssen auch die Risiken innerhalb der Informatik (IT) systematisch berück sichtigt werden. Einerseits… …die Grundlage für ordnungsgemäß funktionierende automatisierte IT- Anwendungskon trollen. Generelle IT-Kontrollen adressieren beispielsweise Risiken in… …erkennbar ist. IT-relevante Dokumentationen Organisation der IT IT-Governance Compliance IT-Risikomanagement IT-Projektmanagement… …unternehmensspezifischen Soll-IKS in der IT Bei den von uns selbst durchgeführten Prüfungen stellte sich mitunter die Frage, ob das aufgezeigte Ist- Maturitätsprofil eines… …IT-Kontrollen. 134 · ZIR 3/10 · Best Practice IKS-Simulation IT-relevante Dokumentationen Unterstützende Anwendungskontrolle Organisation der IT Direkte… …diese Simulation auch für eine extrem frühzeitige Planung der eigentlichen Prüfungshandlungen für die Beurteilung des IKS inner halb der IT. Grundsätzlich… …halb der IT ein minimales IKS benötigt, das wir in Abhängigkeit von gewissen Größenangaben leicht modifizieren (Sicherheitsverantwortliche nennen diese… …Unterstützende Anwendungskontrolle Organisation der IT Direkte Anwendungskontrolle Rechnungswesen-Anwendung Outsourcing Datensicherung Problem Management… …Forschungsprojekten resp. Diplom arbeiten im Bereich IT- Governance, IT-Sicherheit usw. gewonnen werden konnten. Es ist auch für Laien nachvollziehbar, dass ein… …aufgrund von typischen branchenspezifischen Anforderungen an IT- Kontrollen. Jedem Unternehmen wird aber genau ein Branchen profil zugewiesen. Für das…

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

  Efficient Risk Management in Leasing Companies

  Prof. Dr. Fikret Hadžiæ, Amir Softiæ

  …leasing subject (movable or fixed property) and gives it to the lease recipient to use for a certain period of time with the lease recipient being obliged… …to periodically pay the lessee in accordance with the contract. Leasing is a very important source of medium and long-term financing. It is an… …. It is especially conven- ient for small and medium-sized businesses that, quite often, do not have an access to commercial bank loans. Also, leasing… …certain leasing subjects, significantly increases their approval risks and leads leasing companies to an almost identical dilemma, as it does the banks… …conditions”. How- ever, regardless of the adoption of this legal framework, it is evident that the global economy crisis influenced the change in the work… …service to protect assets and achieve a competitive advantage), it is necessary to develop an IT supported appli- cation. We will call this type of… …. It includes data about the cli- ent, transaction, leasing subject and collateral, leasing application status, scoring result, and repayment of leasing… …proval to the maximal amount of rent/lease, and – A developed system of competency holders. These can be individual holders or a collective body. It is… …rulebook on competencies, in which it is unambiguously regulated to whom the competencies have been allocated, under which conditions and up to which… …value. Bearing this fact in mind, which de facto includes International Accounting Stan- dard IAS 39 as well; it is evident how important it is for…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 9: Cendant/CUC (1998)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …revenue and ex- pense recognition policies followed the matching principle. But in retrospect, it became clear that this was not the case. CUC sold club… …solicitation costs to future periods. In other words, it recorded the revenue early and the expenses later. Thus, the company was able to successfully boost… …totally fictitious, including, for exam- ple, USD 500 million over the three-year period from fiscal 1995 to 1997. One fraud investigator commented: “It… …, each quarter, senior management would review the opportunities available for inflating the company’s earnings, and it would determine how many… …who had served under Forbes and Shelton at CUC. On April 15, 1998, the fraud was disclosed to the public: Cendant announced that it had dis- covered… …“accounting irregularities” and that it expected to lower its 1997 earnings. The disclosures sent Cendant stock into a tailspin: the stock price dropped 46% in… …covered it up. The auditors, however, denied the allegations, but agreed to pay USD 335 mil- lion to settle litigation. Ultimately, Cendant sued Walter A… …Corigliano. “It was a culture that had been developing over many years,” Corigliano said in a statement, emphasizing that they had been following orders. “It… …September 2006, it split into four companies. Its real estate and hotel businesses were spun off as stand-alone companies, and a third company, Travelport…

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