A discussion of the fair value accounting rules would be incomplete without at least providing an overview of some of the key principles involved in determining the fair value of an asset or a liability. After all, fraudulent financial reporting can involve... 

Auditors typically view property and equipment as a low - risk area. However, the opportunity for a significant fraud in a one-time transaction is actually high. The purchase of a building at an inflated price from a related party can cause significant... 

A serious control problem arises when there is no formal definition of how to calculate a credit limit, what information is required of customers in order to determine the credit limit, the standard terms of sale, and the collections methodology to be...