[雙語翻譯]會計舞弊外文翻譯---財務(wù)報表的虛假陳述土耳其的一個會計舞弊案件（英文）

1、Misrepresentation of financial statements An accounting fraud case from TurkeyCenap Ilter School of Business-Accounting, Grant MacEwan University, Edmonton, CanadaAbstract Purpose – The purpose of this paper is to show t

2、he public, in general, and auditors, in particular, that in the absence of control there is always a risk of fraud. Fraud can be done in various forms. Larceny may be the most obvious case of fraud, but fraud may be done

3、 in many other ways too. Balance sheet fraud or financial statements fraud is a broader issue; it is far-fetched than a few hundred dollars of a larceny case. In financial statement fraud, the deep down effect may be mil

4、lions or billions of dollars. Design/methodology/approach – The paper has been designed based on a fraud theory. The author has observed the implications of a possible fraud in a real audit case. The fraud theory has bee

5、n tested through financial analysis and audit tests. The theory has then been revised and the existence of a financial statement fraud has been proven. Findings – The paper explores that banks and group companies control

6、led by unreliable owners can lead to misuse of public’ s funds in accordance with the directives of the owner. Public’ s money can be transferred to other group companies in an illegal manner – in excessive amounts – and

7、 never returned to the bank by means of applying different accounting fraud techniques. Research limitations/implications – Auditors, who may audit group companies that include a bank or banks with deposit receiving and

8、lending rights, should pay attention to the transactions between the group’ s bank and the other group companies. The lending may be excessive in amount and/or never paid back and the financial statements would be misrep

9、resented covering various fraud schemes. Originality/value – The case that the paper deals with reflects the author’ s own audit experiences. The names of the companies have been changed but not the essence of the events

10、. From this perspective, it sheds light onto the path of an auditor who happens to be in a similar situation.Keywords Fraudulent representation, Interest capitalizationPaper type Case study1. Conditions for fraud Three c

11、onditions of fraud arising from fraudulent financial reporting and misappropriations of assets are described in Section 5,135.012 of the Canadian Institute of Chartered Accountants Assurance Handbook titled “The Auditor’

12、 s Responsibility to Consider Fraud and Error”. As shown in Figure 1, the following three conditions are referred to as the fraud triangle:(1) Incentives/pressures: management or other employees have incentives or pressu

13、res to commit fraud.(2) Opportunities: circumstances provide opportunities for management or employees to commit fraud.The current issue and full text archive of this journal is available atwww.emeraldinsight.com/1359-07

14、90.htmMisrepresentation of financial statements215Journal of Financial Crime Vol. 21 No. 2, 2014 pp. 215-225 © Emerald Group Publishing Limited 1359-0790 DOI 10.1108/JFC-04-2013-0028Downloaded by Dokuz Eylul Univers

15、ity At 05:12 06 November 2014 (PT)the system in violation of its own quasi-currency board rules, it created fears that the program and currency peg were no longer sustainable and the extra liquidity merely flowed out via

16、 the capital account and drained reserves. The situation seemed to stabilize in early 2001, as virtually the entire US$6 billion in capital that had exited in the crisis flowed back and reserves were reconstituted. Howev

17、er, investors were demanding much higher interest rates than before, indicating an upward shift in the country risk premium. The result was record overnight interest rates, which peaked at close to 5,000 per cent on Febr

18、uary 21, 2001. The banking system, already greatly weakened by the first crisis, faced breakdown as the interbank payments system ceased to function altogether. The next day the government decided to float the lira, spel

19、ling the end of the exchange rate-based stabilization program. Under the circumstances, floating the currency was probably the only solution available. The market confidence that would have been required to sustain the c

20、rawling peg strategy was not present (Bibbee, 2001). Between 1997 and 2002, the number of banks that have been transferred to a semi governmental agency – Saving Deposits Insurance Fund (SDIF – the Fund) – due to their b

21、eing illiquid and not being able to meet their liabilities has reached 21. They were either merged or sold by the same authority (SDIF Annual Report, 2002, www. tmsf.org.tr/yillik.rapor.en).3. Literature review The follo

22、wing information has been taken from CNN Money (2001, www. money.cnn.com/2001/11/07/news/waste_mgt/index.htm) Last summer, the company – Waste Management and its auditing firm, Arthur Andersen, agreed to pay US$229 milli

23、on to settle another class-action suit about questionable accounting practices. Chicago-based Arthur Andersen will also pay Waste Management US$20 million as part of a malpractice settlement. In June, Arthur Andersen agr

24、eed to pay a US$7-million civil fine after the Securities and Exchange Commission accused it of “knowingly or recklessly” issuing false and misleading audit reports for Waste Management for the years 1993-1996 that infla

25、ted the company’ s earnings by ? US$1 billion. The following information has been taken from US Securities and Exchange Commission (2004, www.sec.gov/news/press/2004-105.htm), Washington, DC, August 4, 2004 – The Securit

26、ies and Exchange Commission announced that it filed an enforcement action against Bristol-Myers Squibb Company, a New York-based company whose largest division, the US Medicines Group, is based in New Jersey. The Commiss

27、ion’ s complaint, filed today in the US District Court for the District of New Jersey, alleges that Bristol-Myers perpetrated a fraudulent earnings management scheme by, among other things, selling excessive amounts of p

28、harmaceutical products to its wholesalers ahead of demand, improperly recognizing revenue from US$1.5 billion of such sales to its two largest wholesalers and using “cookie jar” reserves to meet its internal sales and ea

29、rnings targets and analysts’earnings estimates. In settling the Commission’ s action, Bristol-Myers agreed to an order requiring it to pay US$150 million dollars and perform numerous remedial undertakings, including the

30、appointment of an independent adviser to review and monitor its accounting practices, financial reporting and internal controls. CIT, a computer leasing group which is one of the Fortune 500 global commercial finance com

31、panies in the USA that provided financing and leasing to many industries worldwide. Its 2004 net income was USD754 million. CIT had its name involved in a217Misrepresentation of financial statementsDownloaded by Dokuz Ey