Called to account : financial frauds that shaped the accounting profession / Paul M. Clikeman.

Format:

Book

Author/Creator:

Clikeman, Paul M., 1960-

Language:

English

Subjects (All):

Accounting fraud--United States.

Accounting fraud.

Corporations--Corrupt practices--United States--Accounting.

Corporations.

Accounting--Standards--United States.

Accounting.

Accounting--Standards.

Corporations--Corrupt practices.

United States.

Fraud.

Physical Description:

ix, 371 pages ; 23 cm

Edition:

Second edition.

Place of Publication:

New York : Routledge, 2013.

Summary:

Called to Account takes a broad perspective on how financial frauds have shaped the public accounting profession by focusing on cases of fraud around the globe. Ever entertaining and educational, the book traces the development of the accounting standards and legislation put in place as a direct consequence of these epic scandals. The new edition offers updated chapters on ZZZZ Best and Arthur Andersen, plus new chapters devoted to Parmalat, Satyam, and The Great Recession. Through stories like Barry Minkow's staged constructions sites and MiniScribe's fake inventory number generating computer program, "Cook Book", students will learn that fraud is nothing new, and that financial reform is heavily influenced by politics. With discussion questions and a useful chart showing instructors and students how each chapter illustrates the topics covered in other textbooks, Called to Account is the ideal companion for any class in auditing, advanced accounting or forensic accounting. Book jacket.

Contents:

1 Scandal and Reform 3

Part I Birth of a Profession 15

2 Out of Darkness 17

3 Ivar Kreuger 23

4 McKesson & Robbins 30

5 Into the Spotlight 35

Part II The Profession's Principle Problem 43

6 Generally Accepted Accounting Principles 45

7 National Student Marketing 53

8 Equity Funding 61

9 Déjà Vu 68

Part III The Savings & Loan Crisis 79

10 It's a Wonderful Life? 81

11 ESM Government Securities 88

12 Lincoln Savings & Loan 96

13 Bank Robbers 104

Part IV The Expectation Gap 117

14 Auditors and Fraud 119

15 ZZZZ Best 128

16 Crazy Eddie 137

17 Closing the Gap 144

Part V The Litigation Crisis 151

18 Auditors' Legal Liability 153

19 Fund of Funds 161

20 MiniScribe 168

21 Litigation Reform 176

Part VI Beginning of the End 185

22 Auditor Independence 187

23 Waste Management 196

24 Sunbeam 204

25 End of the Millennium 212

Part VII From Profession to Regulated Industry 221

26 Professionalism 223

27 Enron 235

28 WorldCom 245

29 The Perfect Storm 256

Part VIII The World is Flat 267

30 It's a Small World 269

31 Parmalat 276

32 Satyam 284

33 The Great Recession 290

34 Conclusion 301.

Notes:

Includes bibliographical references and index.

ISBN:

9780415630245

041563024X

9780415630252

0415630258

9780203097946

0203097947

OCLC:

794041494