1 / 14

Don't get burned when someone else is "cooking the books"

The power point presentation "Don't get burned when someone else is cooking the books" by Gary Rubin CPA is a guide for corporate management and board members about the indicators that increase the possibility of fraudulent financial reporting. This will help them consider if these factors are present in the organizations they supervise.

garyrubincpa
Download Presentation

Don't get burned when someone else is "cooking the books"

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Gary Rubin, CPA |913-980-9906|garyrubincpa@gmail.com Don’t get burned when someone else is “cooking the books” garyrubincpa@gmail.comwww.linkedin.com/in/garyrubincpa www.twitter.com/garyrubincpa913-980-9906

  2. Overview In today’s increasing litigious society, the trend by regulators to hold a company’s senior management and board members personally responsible for acts committed by the Company, it is wise for such parties to consider if the operations under their supervision are fraudulently reporting their financial results. I hope that the following “top ten list” of the conditions that encourage fraudulent financial reporting will assist corporate management and board members in this process. In other words… consider the following indicators so that you……… Don’t get burned when someone else is “cooking the books”

  3. Top 10 indicators that someone may be “cooking the books” Insufficient number of, or inadequately skilled, financial staff. 10

  4. Top 10 indicators that someone may be “cooking the books” Management tends to shoot from the hip making significant decisions without adequate due diligence. 9

  5. Top 10 indicators that someone may be “cooking the books” A unusually large portion of management’s compensation is tied to achieving a specific target or financial metric. 8

  6. Top 10 indicators that someone may be “cooking the books” Results are highly correlated with a few complex transactions that conclude at/near period end. 7

  7. Top 10 indicators that someone may be “cooking the books” The company’s results seem immune to negative industry trends. 6

  8. Top 10 indicators that someone may be “cooking the books” A smooth trend of reported revenues or earning even though customers’ express significant concerns about product / service delivery. 5

  9. Top 10 indicators that someone may be “cooking the books” Cash flow significantly lags reported results. 4

  10. Top 10 indicators that someone may be “cooking the books” Using excessively complex customer contracts. 3

  11. Top 10 indicators that someone may be “cooking the books” Lax attitude by leadership toward internal controls. 2

  12. Top 10 indicators that someone may be “cooking the books” And the No. 1 indicator of potential fraudulent financial reporting is….

  13. Top 10 indicators that someone may be “cooking the books” Significant accounting decisions are made by senior leaders who lack financial / accounting training. 1

  14. Top 10 indicators that someone may be “cooking the books” Gary Rubin garyrubincpa@gmail.com www.linkedin.com/in/garyrubincpa www.twitter.com/garyrubincpa 913-980-9906 For additional information, visit www.slideshare.net/garyrubin1/fraud-risk-checklist

More Related