Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 44: Satyam Computer Services (India, 2009)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …confidence in India Inc., and it is very difficult to restore their confidence.” In 2009, Satyam Computer Services was the fourth-largest Indian… …expanded it from a handful of employees into a back-office giant with a workforce of 53,000 and operations in 66 countries. Satyam delivered… …outsourcing solutions to nearly 700 clients, including 185 “Fortune 500” companies. Thus, it served as the back-office for some of the largest banks… …responsible for clients’ finances and accounting.) “For years, Ramalinga Raju was lionized as one of the whiz-kids of the Indian IT sector,” said one… …started as a mar- ginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has… …attained unmanageable propor- tions as the size of company operations grew,” Raju wrote. “It was like riding a tiger, not knowing how to get off without… …lents were, in fact, made out of thin air. Revenue for the quarter was 20% lower than reported, and the company’s profit margin was a fraction of what it… …staff. – Merrill Lynch, the U.S. investment bank, was engaged by Satyam to explore merger opportunities for the IT outsourcing giant. But within just… …fluctuations in the amount of “unbilled revenue” the company reported. (Unbilled revenue is work done for a customer but not yet invoiced: it represents future… …earnings. Accounting Fraud in Asian Companies 252 However, there is usually little documentation associated with the number, so it is easy to…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 5: Phar-Mor (1992)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …dis- count” drugstore in Cleveland and decided they had seen the future. They acquired a single drugstore in Youngstown, Ohio, and dreamt of building it… …un- covered the fraud. Phar-Mor’s board of directors insisted that it was plenty active, but fully deceived until it got a tip in late July 1992. Monus… …, but it was disbursed on a Phar-Mor bank account. The travel agent thought it odd that Phar-Mor would be paying these expenses. Since she was an… …“Cookies”. The fraud team used these entries to inflate inventory and earnings. As it would not have been practical to carefully scan all the packets, the… …the operating GLs, the fraud would have been all over. Because the physical inventories were completed during the fiscal year, it was ne- cessary… …did account for a portion of the spike, investigations indicated that a large part of it was due to fraud. The spike was clearly a big red flag that… …Coopers & Lybrand recklessly overlooked. It should have caused an experienced retail auditor to have suspicions about inventory at Phar-Mor. But Coopers &… …(for example, at Christmastime it would be the same concept), and that they relied on their tests of the gross profit schedules. If any large or… …fraud was uncovered, it was determined that Phar-Mor’s actual gross mar- gins were really much lower than the budgeted 15.5%. Accounting Fraud in… …master chef”, the company’s board said. As a private company, Phar-Mor was not exactly structured for scrutiny. It didn’t have to file with the SEC…

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• 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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• eBook-Kapitel aus dem Buch The Role of Internal Audit in Corporate Governance in Europe

  State of the art Internal Audit

  European Confederation of Institutes of Internal Auditing (ECIIA)

  …consulting activity designed to add value and improve an organisa- tion’s operations. It helps an organisation accomplish its objectives by bring- ing a… …the board’s liability and responsibility has recently been emphasized by legislation it is advisable to have Internal Audit assigned and directly… …audit function and the way to manage it Potential of process standardisation Management of communication interfaces • • • • • • • • • • • 3 State of… …following business units and on a functional level (Finance, HR, Procurement, IT etc.) since management and auditee ex- pect the auditor to display a… …certification and – most important – a sufficient level of experience gathered by audit practice. In recent times, it has become more relevant to complement… …qualifications such as Prince2, PMBOK, ITIL, CObIT etc. Additionally, country specific designa- tions are to be considered. It is worth mentioning that Internal… …strongly recommend the adoption of the COSO-Framework without making it compulsory. Nearly all External Auditing Companies have adopted the COSO principles… …information about the general state of the ICS and support the subsequent evaluation of risks. Fur- thermore, in order to evaluate risks properly it is… …comprehensive evaluation of risks. To obtain this highly complex data, it is essential to proceed from the general to the specific in a strict top-down approach… …impact on the achievement of the company’s goals. Risk is measured in terms of a combi- nation of the impact. It is useful to employ appropriate…

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• eBook-Kapitel aus dem Buch IT-Compliance

  Kosten der IT-Compliance

  Dr. Michael Rath, Rainer Sponholz

  …undWertbeitrag von Compliance bzw. IT- Compliance dargestellt. Ein Themenkomplex, der angesichts der kostenintensi- ven Umsetzung der vielen regulatorischen… …IT- Compliance und IT-Sicherheit oftmals von vielen Entscheidern als Kostentrei- ber ohne Nutzen gesehen werden – sie präferieren den… …subjektive Empfinden über die Angemessenheit der Pflichtmaßnahmen führen zu den größten Widerständen im Feld der (IT-) Compliance. Das vorliegende Kapitel soll… …, FDA-Compliance oder der Sarbanes-Oxley- Act, die sich über alle Branchen hinwegmassiv auf die IT auswirken.“187 Seit dieser aus dem Jahr 2008 stammenden… …Entscheidern (sowohl aus IT als auch Business) filterten die Marktforscher gut 200 Firmen, die mit Blick auf ihre IT-Security erkennbar besser abschnitten als… …ihres IT-Budgets für die IT- Sicherheit aus. Sie verfügten jedoch über eine wirksamere (Compliance-)Strate- gie. Die Security-Strategie sei dort mit den… …budgets that were dedicated to dealing with regula- tions were rising at a rate that was twice as fast as the IT budgets.“193 [In den letzten Jahren (…)… …der Risk Adjusted Comfort Zone stellt eine Verschwendung des meist beschränkten IT- Budgets dar. Uebelacker und Schmeh erklären die Verwendung von… …unterschiedlichen Verhaltensmustern und Zielstellun- gen der Akteure des Compliance-Managements (Unternehmensführung, IT- Sicherheitsfachleute, Revisoren, Juristen…

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• eBook-Kapitel aus dem Buch Risk Management Practices of SMEs

  Introduction

  Thomas Henschel

  …. Therefore it is surpris- ing that they have been neglected in empirical investigations on risk manage- ment (Section 1.1.1). Currently (2006), legal and other… …to the regional mono-structures (De, 2005, p. 242). It is therefore all the more surprising that in Germany SMEs have so far been largely ignored in… …industries. It is noticeable that the first four of the above industry sectors concern companies which primarily offer project-based services. Since there are… …form and whether the control system to be set up as described by the act is capable of fulfilling the tasks required of it.” It is noticeable that in… …compulsory exercise and is therefore not coher- ently integrated into the current management. It is also in most cases seen as a reactive type of risk… …survival, since it affects their ability to continue to receive credit from the banks (Wildemann, 2005). A risk management system is, however, necessary for… …SMEs, not only be- cause it is required by law or by the Basel II regulations, but rather because it is in the essential interest of the SMEs. The reason… …in the latter sense is a feature which is part of the exis- tence of every entrepreneurial activity. A business must identify the risks which it has… …already entered into and measure, control and adjust them if it wants to ensure its long-term existence (see Hahn, 1987, p. 139). As shown by Figure 1.1… …risk-bearing ability is the ability of the com- pany to bear losses arising from the risks it has entered into without becoming insolvent. Risk management is…

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• eBook-Kapitel aus dem Buch Risk Management Practices of SMEs

  Literature Review

  Thomas Henschel

  …analyses the research into management behaviour and the attitude to risk, and it describes the special characteristics of SMEs. Section 2.3 reviews business… …use of instruments of performance measurement comes second (Wolf, 2003). The literature sources agree that risk management is only useful if it is… …, p. 199). The authors describe what the shape of the risk management process should be and which methods could be chosen for it. They do not go into… …SMEs and which techniques are applied to implement it. In this context the subsection then considers the current problems of SMEs as they are relevant to… …the present research. The section concludes with the investigation of the atti- tude to risk. In particular it analyses whether there are differences… …approach to running the business. Car- rying their own business planning and keeping it up to date will lead to success. 6. van Gelderen et al. (2005)… …strat- egy concentrates on one goal at a time, aiming to solve the most difficult problem first, thereby making strategy an iterative process. It is also… …owner-managers have less strategic planning skills than other managers. It is not that owner- managers view these techniques more sceptically but rather that they… …reason is that until now (2006) there exist only few studies on the phenomenon of owner-managers (Richbell et al., 2006, p. 509). So it has not definitely… …consequence of Basel II – successorship. It is interesting to note that the same study was carried out a year ago (2004) and that Basel II was then in first…

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• eBook-Kapitel aus dem Buch Spezifische Prüfungen im Kreditbereich

  Prüfung der Datenqualität im Kreditgeschäft

  Christof Laffler

  …Rechnungslegung (RS) und Prüfungsstandards (PS) des Instituts der Wirtschaftsprüfer (IDW) und des IDW-Fachaus- schusses für Informationstechnologie (FAIT)… …, insbesondere der RS FAIT 1 (Grundsätze ordnungsgemäßer Buchführung bei Einsatz von IT), der RS FAIT 2 (Grundsätze ordnungsgemäßer Buchführung bei Einsatz von… …Elec- tronic Commerce) und der PS 330 (Abschlussprüfung bei Einsatz von IT), Prüfung der Datenqualität im Kreditgeschäft 22 � die Stellungnahme des… …anderer Verbände, � die IT-Grundschutz-Standards und -Kataloge (GS-KAT) des Bundesamtes für Sicherheit in der Informationstechnik (BSI) und � das Produkt… …Informationstechnik DV Datenverarbeitung FAIT IDW-Fachausschuss für Informationstechnologie GoB Grundsätze ordnungsgemäßer Buchführung GoBS Grundsätze…

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• eBook-Kapitel aus dem Buch Digitale Forensik

  Angriffsszenarien – das Spiel mit der Angst

  Bodo Meseke

  …71 3 Angriffsszenarien – das Spiel mit der Angst Ransomware is unique among cybercrime because in order for the attack to be successful, it… …Informationstechnik lahm. Maersks Containerschiffe konn- ten nicht auslaufen, bei Beiersdorf standen Produktionsbänder still. Maersk bilan- zierte den Schaden zwischen… …Hinweise. Entwickelt wurde „Mimikatz“ vom französischen IT- Sicherheitsexperten Benjamin Delpy, Mitte 2011 stellte er das Tool vor. Delpy wollte mit dem… …. „It was all very strange for me. Like being in a spy film“, zitiert ihn das Magazin Wired (Greenberg 2017a; Kremp 2011). Trotz einiger Hinweise auf…

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• eBook-Kapitel aus dem Buch IT-Audit

  Vorbereitung

  Dr. Stefan Beißel

  …der IT und aus Fachabtei- lungen, der internen Auditoren und Auditoren des Vorjahres, – einen Haftungsausschluss, der durch die Grenzen eines Audits… …im Rahmen der IT erfüllt werden, damit sie für das Unternehmen nützlich sind. Risiken entstehen durch die potenzielle Nichterfüllung dieser Merkmale… …von Zielen genutzt werden kann. IT- Risiken können aus der potenziellen Nichterreichung festgelegter Ziele abgelei- tet werden. Hierbei handelt es sich… …Weiterbildung der Mitarbeiter und neue Produkte. Planung 79 – Das 4A-Rahmenwerk von Westerman und Hunter (2007) beschreibt IT- Risiken als… …80 Ein risikobasiertes IT-Audit ist auf die Analyse und den Umgang mit IT- Risiken ausgerichtet und berücksichtigt das vorhandene Risikomanagement… …Unter- nehmens erhoben werden, z. B. öffentliche Daten über Kunden, Lieferanten oder Geschäftspartner. Außerdem kann eine physische Prüfung von IT… …Organisationsstruktur des Auditierten vertraut und ver- schafft sich einen Überblick über Verantwortlichkeiten in Bezug auf Daten, IT- Systeme, Applikationen und… …IT-Verantwortliche ist der Adressat für eine außerordent- liche Berichterstattung über besonders gravierende Kontrollschwächen, die IT- Manager sind die Adressaten für… …unter anderem ein Rahmenwerk namens ITAF (IT Assurance Framework), welches aus den folgenden Komponenten besteht (ISACA 2014): – Der Ethikkodex… …zu entsprechen. Die IT- Prüfungsstandards sind in drei Kategorien unterteilt: – Die allgemeinen Standards (1000er-Serie) beinhalten generelle…

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