Deception and financial mayhem : the promise of blockchain technology / Faisal Sheikh and Saad Maniar

Format:

Book

Author/Creator:

Sheikh, Faisal, author.

Maniar, Saad, author.

Series:

Business expert press financial accounting, auditing, and taxation collection

Language:

English

Subjects (All):

Accounting fraud.

Blockchains (Databases).

Accounting--Standards.

Accounting.

Physical Description:

1 online resource (149 pages) : illustrations

Edition:

First edition

Place of Publication:

New York : Business Expert Press, 2025.

Summary:

"Deception and Financial Mayhem explores whether the corporate psychopath accountant can be identified, modeled, and ultimately constrained. This book extensively discusses accounting fraud, including recent accounting scandals, and its relationship with Corporate Governance. Major accounting fraud models, including The Fraud Triangle, are examined and the lens of The Dark Triad (Machiavellianism, Narcissism, Psychopathy) is also presented to better understand the perpetrators of accounting fraud. Utilizing the Levenson's Self-Report Psychopathy Scale, a multiple regression model known as the 'Corporate Psychopath Equation' is proposed to potentially identify psychopathic tendencies in accountants and auditors. The foundational aspects of blockchain technology are covered along with its potential to prevent accounting fraud. The authors outline automation technologies and 'People-Centric Approaches', including the Sheikh Maniar Crowe Anti-Fraud Culture Builder -which can potentially foster an ethical culture and deter accounting fraud until the blockchain technology becomes ubiquitous. Finally, perpetual vigilance is advised, even as the specter of the corporate psychopath accountant may diminish." -- Provided by publisher

Contents:

CHAPTER 1 What Is Accounting Fraud and Why It Persists

Why Accounting Fraud Endures?

Framework for Corporate Crime

What Is Fraud and How Accounting Fraud Is Unusual

Enron, 2001

WorldCom, 2002

Adelphia, 2002

Global Crossing, 2002

Parmalat S.p.A, 2004

Lehman Brothers, 2008

Toshiba, 2015

Wirecard AG, 2020

Synopsis of Accounting Fraud

The Magnitude and Economic Consequences of Accounting Fraud

The Drivers of Accounting Fraud

Pay

The Requirement to Obtain Finance

Beating Market Expectations

C R I M E L

Covering Up Company Financial Problems

Socioeconomic Challenges

CHAPTER 2 The Fraud Triangle and How to Discern Accounting Fraud

Fraud Model

The Fraud Triangle

Pressure

Opportunity

Rationalization

Appraisal of the Fraud Triangle

The Triangle of Fraud Action

The Fraud Scale

MICE

The Fraud Diamond

The Fraud Pentagon

New Fraud Triangle Model

The A-B-C Model

Predator Versus Accidental Fraudsters

The C R I M E Model

Prevention, Deterrence, and Detection

The Importance of Internal Controls

Ethical Culture

Red Flags of Accounting Fraud

Governmental Regulation

Dark Triad

Dark Triad CEOs and CFOs

Relevance of Dark Triad to Fraud Prevention and Detection

CHAPTER 3 Accounting Fraud and Corporate Psychopathy Modeling the Corporate Psychopath Accountant

Dark Triad Theory

The Corporate Psychopath

The Successful Corporate Psychopath

The Psychopathic Process

Corporate Psychopath Accountants

Modeling the Corporate Psychopath Accountant

CHAPTER 4 The Promise of Blockchain Technology

Accounting History

Triple-Entry Bookkeeping by Yuji Ijiri

Triple-Entry Accounting (TEA) by Ian Grigg.

Fintech

Smart Contracts

Accounting on the Blockchain

Auditing on the Blockchain

Blockchain Structure

The Risks of Blockchain and Big Data Analytics

The FTX Fraud and Blockchain Technology

Responding to the Challenges of Blockchain and Big Data Analytics

CHAPTER 5 The Halfway House Automation

What Is External Audit Automation?

Why Is Audit Automation Vital?

What Are the Advantages of Audit Automation?

Which Audit Tasks and Workfow Elements Can Be Automated?

Audit Engagement Management

Audit Methodology

Secure Confrmations

Why Audit Automation Is a Workable Solution

Key Automation Technologies

Cloud Technologies

Robotic Process Automation

Artifcial Intelligence (AI)

Predictive Analytics

People-Centric Approaches

Accounting Ethics

Creating an Ethical Culture

The Nuts and Bolts of Creating an Anti-Fraud Culture

Conclusion

Professional Experience and Its Role in Mitigating Corporate Psychopathy in the Workplace

Glossary

Notes:

Includes bibliographical references and index

Description based on publisher supplied metadata and other sources.

ISBN:

9781637427613

1637427611

OCLC:

1515461627