会计舞弊财务舞弊外文文献翻译Word文档下载推荐.docx

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文献出处：

BadawiIM.Globalcorporateaccountingfraudsandactionforreforms[J].ReviewofBusiness,2005,:

26（:

2）.

英文原文

GlobalCorporateAccountingFraudsandActionforReforms

IbrahimBadawi

St.John’sUniversity

Abstract

Therecentwaveofcorporatefraudulentfinancialreportinghaspromptedglobalactionsforreformsincorporategovernanceandfinancialreporting,bygovernmentsandaccountingandauditingstandard-settingbodiesintheU.S.andinternationally,includingtheEuropeanCommission;

theInternationalFederationofAccountants;

theOrganizationforEconomicCooperationandDevelopment;

andothers,inordertorestoreinvestorconfidenceinfinancialreporting,theaccountingprofessionandglobalfinancialmarkets.

Introduction

DuringtherecentseriesofcorporatefraudulentfinancialreportingincidentsintheU.S.,similarcorporatescandalsweredisclosedinseveralothercountries.Almostallcasesofforeigncorporateaccountingfraudswerecommittedbyentitiesthatconducttheirbusinessesinmorethanonecountry,andmostoftheseentitiesarealsolistedonU.S.stockexchanges.FollowingthelegislativeandregulatoryreformsofcorporateAmerica,resultingfromtheSarbanesOxleyActof2002,reformswerealsoinitiatedworldwide.Theprimarypurposeofthispaperistwofold:

（1）toidentifytheprominentAmericanandforeigncompaniesinvolvedinfraudulentfinancialreportingandthenatureofaccountingirregularitiestheycommitted;

and

（2）tohighlighttheglobalreactionforcorporatereformswhichareaimedatrestoringinvestorconfidenceinfinancialreporting,thepublicaccountingprofessionandglobalcapitalmarkets.

CasesofGlobalCorporateAccountingFrauds

ThelistofcorporatefinancialaccountingscandalsintheU.S.isextensive,andeachonewastheresultofoneormorecreativeaccountingirregularities.Exhibit1identifiesasampleofU.S.companiesthatcommittedsuchfraudandthenatureoftheirfraudulentfinancialreportingactivities.

WhoCommitsFinancialFraudandHow

Therearethreegroupsofbusinesspeoplewhocommitfinancialstatementfrauds.Theyrangefromseniormanagement（CEOandCFO）;

mid-andlower-levelmanagement;

andorganizationalcriminals[6,16].CEOsandCFOscommitaccountingfraudstoconcealtruebusinessperformance,topreservepersonalstatusandcontrolandtomaintainpersonalincomeandwealth.Mid-andlower-levelemployeesfalsifyfinancialstatementsrelatedtotheirareaofresponsibility（subsidiary,divisionorotherunit）toconcealpoorperformanceand/ortoearnperformance-basedbonuses.Organizationalcriminalsfalsifyfinancialstatementstoobtainloansortoinflateastocktheyplantosellina“pump-and-dump”scheme.Methodsoffinancialstatementschemesrangefromfictitiousorfabricatedrevenues;

alteringthetimesatwhichrevenuesarerecognized;

improperassetvaluationsandreporting;

concealingliabilitiesandexpenses;

andimproperfinancialstatementdisclosures.

GlobalRegulatoryActionforCorporateandAccountingReforms

Inresponsetocorporateandaccountingscandals,theeffectsofwhicharestillbeingfeltthroughouttheU.S.economy,andinordertoprotectpublicinterestandtorestoreinvestorconfidenceinthecapitalmarket,U.S.lawmakers,inacompromisebytheHouseandSenate,passedtheSarbanes-OxleyActof2002.PresidentBushsignedthisActintolaw（PublicLaw107-204）onJuly30,2002.TheActresultedinmajorchangestocompliancepracticesoflargeU.S.andnon-U.S.companieswhosesecuritiesarelistedortradedonU.S.stockexchanges,requiringexecutives,boardsofdirectorsandexternalauditorstoundertakemeasurestoimplementgreateraccountability,responsibilityandtransparencyoffinancialreporting.ThestatutesoftheAct,andthenewSECinitiativesthatfollowed[1,4,8,12,15],areconsideredthemostsignificantlegislationandregulationsaffectingthecorporatecommunityandtheaccountingprofessionsince1933.OtherU.S.regulatorybodiessuchasNYSE,NASDAQandtheStateSocietiesofCPAshavealsopassednewregulationswhichplaceadditionalburdensonpubliclytradedcompaniesandtheirexternalauditors.

TheSarbanes-OxleyAct（SOA）isexpresslyapplicabletoanynon-U.S.companyregisteredonU.S.exchangesundereithertheSecuritiesActof1933ortheSecurityExchangeActof1934,regardlessofcountryofincorporationorcorporatedomicile.Furthermore,externalauditorsofsuchregistrants,regardlessoftheirnationalityorplaceofbusiness,aresubjecttotheoversightofthePublicCompanyAccountingOversightBoard（PCAOB）andtothestatutoryrequirementsoftheSOA.

TheUnitedStates’SOAhasreverberatedaroundtheglobethroughthecorporateandaccountingreformsaddressedbytheInternationalFederationofAccountants（IFAC）;

theOrganizationforEcon