Fraud cases of the 21st century – a case study of Worldcom in the context of CFEBT approach

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F18%3A43898886" target="_blank" >RIV/60076658:12510/18:43898886 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Fraud cases of the 21st century – a case study of Worldcom in the context of CFEBT approach

Popis výsledku v původním jazyce

The contribution aims to analyse aspects of the impact of manipulative accounting techniques on the selected case study of the worldwide known case Society of Worldcom, as subsequently identified by auditors and audit authorities after the fraud. The identified manipulations were subsequently subjected to an analysis of CFBET approach. The contribution has detected the risk of the impact of accounting errors and frauds representing one of the peaks CFEBT risk triangle accounting errors and frauds. It also calculated CFEBT M-score at three levels and identifies risks at accounting areas of provisions and overvalued own funds outside the operational area. The contribution presents the results of the CFEBT approach at three levels of the M-score and analyses significant discrepancies between the generation of earnings and an increase in cash flow during the observed periods. The CFEBT risk triangle was designed as a tool for detection, evaluation and management of the risk of accounting errors and frauds in circumstances of the Czech accounting standards and International Financial Reporting Standards (IFRS). The essential aim of the triangle is to reduce information asymmetry between authors and users of accounting records, or, in other words, to increase the quality of available information with respect to decision-making on the basis of available accounting information.

Název v anglickém jazyce

Fraud cases of the 21st century – a case study of Worldcom in the context of CFEBT approach

Popis výsledku anglicky

The contribution aims to analyse aspects of the impact of manipulative accounting techniques on the selected case study of the worldwide known case Society of Worldcom, as subsequently identified by auditors and audit authorities after the fraud. The identified manipulations were subsequently subjected to an analysis of CFBET approach. The contribution has detected the risk of the impact of accounting errors and frauds representing one of the peaks CFEBT risk triangle accounting errors and frauds. It also calculated CFEBT M-score at three levels and identifies risks at accounting areas of provisions and overvalued own funds outside the operational area. The contribution presents the results of the CFEBT approach at three levels of the M-score and analyses significant discrepancies between the generation of earnings and an increase in cash flow during the observed periods. The CFEBT risk triangle was designed as a tool for detection, evaluation and management of the risk of accounting errors and frauds in circumstances of the Czech accounting standards and International Financial Reporting Standards (IFRS). The essential aim of the triangle is to reduce information asymmetry between authors and users of accounting records, or, in other words, to increase the quality of available information with respect to decision-making on the basis of available accounting information.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50205 - Accounting

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2018

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of the 12th International Scientific Conference INPROFORUM. Innovations, Enterprises, Regions and Management

ISBN

978-80-7394-726-2

ISSN

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e-ISSN

neuvedeno

Počet stran výsledku

6

Strana od-do

26-31

Název nakladatele

Jihočeská univerzita v Českých Budějovicích, Ekonomická fakulta

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

1. 11. 2018

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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