Accounting Irregularities and Financial Fraud: A Corporate Governance Guide (Hardcover)

by Michael R. Young (Editor)

Editorial Reviews

Review
"As the chairman of three audit committees and a former auditor at an international firm, I have found the advice in this book to be invaluable. Making the book of particular use is its easy-to-read 'how to' style and its specific reommendations of concrete steps to maximize the effectiveness of audit committee oversight. This book is an extremely useful tool directed to a problem that should be foremost in the minds of board members, audit committee members, senior executives, accountants, and their lawyers." -- William U. Westerfield-Former Chairman of the Retail Service Group, Price Waterhouse LLP

"Michael Young's insights into audit committee oversight of financial reporting are original, bold, and exactly what's need to root our accounting problems and to prevent them in the first place. The prose is lively and the advice straghtforward and no-nonsense." -- John O. Whitney-Professor of Management, Columbia Business School

"This book couldn't come at a better time. It is thorough, insightful, and accurate both in its depiction of how most financial frauds occur and in its prescription to audit committees on how to prevent their occurrence. It will reward any reader, but particularly corporate directors and independent accountants." -- Bevis Longstreth-Former Member, SEC; Member, Public Oversight Board Panel on Audit Effectiveness

"This book gets to the bottom of 'accounting irregularities'-in other words, financial fraud. It talks about the corporate enviroment that causes it, how it spreads, the kind of crises it can create for a company, and the best ways to deal with them. All of this is described clearly and vividly, from the cumulative experience of knowledgeable professionals, making this volume the first authentic 'how to' book on dealing with, and preventing, fraudulent financial reporting." -- Mario M. Cuomo

Product Description
It only takes a phone call. One moment you're a titan of corporate management. You are, among other things, an outside director of a company that has, yet again, reported stellar results. The stock price is up. Senior management is happy with their well-deserved bonuses. And you're basking in the glow of a favorable article that has just appeared in Business Week.

Then, with a single phone call, everything changes. You're told that accounting irregularities have surfaced at the company. Inexplicably, the CFO has confessed. An emergency board of directors meeting is being called for the next day. There will be one item on the agenda: How to deal with a crisis.

Increasingly, boards of directors, audit committee members, and senior executives are finding themselves in precisely this situation. For virtually all of them, it will be the first time that they will go through it. For that matter, it will probably be the first time for their outside law firm, the certified public accountants who serve as their outside auditors, and almost everybody else involved. Some will choose the proper course of action almost as a matter of instinct. But, experience teaches, many will not.

This book is intended to provide a step-by step guide to the crises enveloping a company in the wake of fraudulent finanical reporting - and how to prevent it from happening in the first place. It is directed to almost everybody involved: outside directors, audit committee members, senior executives, CFOs, CPAs, in-house lawyers, and outside law firms. Experience teaches that, where fraudulent finanical reporting surfaces, the root causes and effects are almost always the same. Also the same are the strategies for dealing with them. -Michael Young

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Product Details

• Hardcover: 425 pages
• Publisher: Harcourt Brace Professional Pub; Bk&CD Rom edition (February 2000)
• Language: English
• ISBN-10: 0156069989
• ISBN-13: 978-0156069984
• Product Dimensions: 9 x 6 x 1 inches
• Shipping Weight: 1.6 pounds
• Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
• Amazon.com Sales Rank: #3,693,208 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

5 of 8 people found the following review helpful:

5.0 out of 5 stars Tracing Financial Fraud, October 3, 2001

By	sanjay pandey (Jodhpur,INDIA) - See all my reviews

The book by Michael R.young on financial fraud and accounting irregularities is a commendable work. In the corporate world and financial management, some lessions are required to be learnt from this book.The book gives sophisticated advise on checking financial frauds. some of the learnt lessions can be applied to check related frauds in India.