CFEBT Risk Triangle of Accounting Errors and Frauds – Analytical Tool of Fraud Risk Management and Reduction of Information Asymmetry between Creators and Users of Accounting Reports

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F17%3A43896318" target="_blank" >RIV/60076658:12510/17:43896318 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

CFEBT Risk Triangle of Accounting Errors and Frauds – Analytical Tool of Fraud Risk Management and Reduction of Information Asymmetry between Creators and Users of Accounting Reports

Original language description

The objective of the present contribution is to evaluate the risk of accounting errors and frauds in small companies predominantly operating in trade based on analysis of the CFEBT risk triangle for financial statements reported for the years 2011–2017. The CFEBT risk triangle is applied in form of a case study aimed at risk detection of occurrence of accounting errors and frauds for a selected sample of companies. A detailed analysis of a risk of impact of accounting errors and frauds is illustrated in the case study of an accounting unit chosen from the sample of companies evaluated. The CFEBT risk triangle was designed as an analytical tool for detection and management of accounting errors and frauds in the context of Czech accounting standards and International Financial Reporting Standards (IFRS) and as a tool for reduction of information asymmetry between creators and users of accounting reports. The risk triangle of accounting errors and frauds may be used for various groups of users of financial statements to enable these users to make decisions at individual levels of access to accounting information. Future research into the CFEBT risk triangle focuses on performance of complex analyses for individual types of business activities of small and middle-sized companies in the context of Czech accounting standards and IFRS.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50205 - Accounting

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Global Rules and Local Use

ISBN

978-80-906585-3-0

ISSN

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e-ISSN

neuvedeno

Number of pages

14

Pages from-to

286-299

Publisher name

Anglo-American University, Prague – Czech Republic

Place of publication

Praha

Event location

Praha

Event date

Oct 20, 2017

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000431393100022