Fraudulent financial reporting
Fraudulent financial reporting is intentional or reckless conduct, acts, or omissions that result in materially misleading financial statements. Confidence in capital markets is compromised when the public disclosure system is eroded by reported instances of fraudulent reporting [Encyclopedia.com].
Controls to prevent fraudulent financial reporting include external auditing, independent board of directors, active regulators, vigilant capital markets, and overall ethical corporate culture [XPLAIND].
Fraudulent Financial Reporting. Encyclopedia.com. Retrieved from: https://www.encyclopedia.com/finance/finance-and-accounting-magazines/fraudulent-financial-reporting
Fraudulent Financial Reporting. XPLAIND. Retrieved from: https://xplaind.com/784568/fraudulent-financial-reporting