Best Practice » Reporting » Audit Committee Best Practices » Risk of Fraudulent Reporting » Risk of Fraudulent Reporting
Address Risk of Fraudulent Reporting
- cash flow problems;
- requests to change the external auditors;
- large or unusual transactions at or near year end;
- material transactions with related parties;
- off balance sheet transactions involving special purpose entities;
- overly complex transactions which suggest form over substance;
- missing records of the company;
- side arrangements;
- unusual variances in the company’s financial results;
- significant changes in income tax rates;
- warnings or complaints from employees;
- sudden turnover in key management positions;
Further reading: Corporate Governance | Audit | Performance Improvement
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