Fair Value Accounting Fraud: New Global Risks and Detection Techniques

275 Pages·2009·1.42 MB·English

by  Gerard M. Zack

Chapter=E1FFIRS Date:June24,2009 Time:9:8am
Chapter=E1FFIRS Date:June24,2009 Time:9:8am
Fair Value Accounting Fraud
Chapter=E1FFIRS Date:June24,2009 Time:9:8am
Chapter=E1FFIRS Date:June24,2009 Time:9:8am
Fair Value Accounting Fraud
New Global Risks and
Detection Techniques
GERARD M. ZACK, CFE, CPA
JohnWiley&Sons,Inc.
Chapter=E1FFIRS Date:June24,2009 Time:9:8am
Copyright©2009byGerardM.Zack.Allrightsreserved.
PublishedbyJohnWiley&Sons,Inc.,Hoboken,NewJersey.
PublishedsimultaneouslyinCanada.
Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,or
transmittedinanyformorbyanymeans,electronic,mechanical,photocopying,
recording,scanning,orotherwise,exceptaspermittedunderSection107or108ofthe
1976UnitedStatesCopyrightAct,withouteitherthepriorwrittenpermissionofthe
Publisher,orauthorizationthroughpaymentoftheappropriateper-copyfeetothe
CopyrightClearanceCenter,Inc.,222RosewoodDrive,Danvers,MA01923,(978)
750-8400,fax[phone],orontheWebatwww.copyright.com.Requeststothe
PublisherforpermissionshouldbeaddressedtothePermissionsDepartment,John
Wiley&Sons,Inc.,111RiverStreet,Hoboken,NJ07030,[phone],fax(201)
748-6008,oronlineathttp://www.wiley.com/go/permissions.
LimitofLiability/DisclaimerofWarranty:Whilethepublisherandauthorhaveusedtheir
besteffortsinpreparingthisbook,theymakenorepresentationsorwarrantieswith
respecttotheaccuracyorcompletenessofthecontentsofthisbookandspecifically
disclaimanyimpliedwarrantiesofmerchantabilityorfitnessforaparticularpurpose.No
warrantymaybecreatedorextendedbysalesrepresentativesorwrittensalesmaterials.
Theadviceandstrategiescontainedhereinmaynotbesuitableforyoursituation.You
shouldconsultwithaprofessionalwhereappropriate.Neitherthepublishernorauthor
shallbeliableforanylossofprofitoranyothercommercialdamages,includingbutnot
limitedtospecial,incidental,consequential,orotherdamages.
Forgeneralinformationonourotherproductsandservicesorfortechnicalsupport,
pleasecontactourCustomerCareDepartmentwithintheUnitedStatesat(800)
762-2974,outsidetheUnitedStatesat(317)572-3993orfax(317)572-4002.
Wileyalsopublishesitsbooksinavarietyofelectronicformats.Somecontentthat
appearsinprintmaynotbeavailableinelectronicbooks.Formoreinformationabout
Wileyproducts,visitourWebsiteatwww.wiley.com.
LibraryofCongressCataloging-in-PublicationData:
Zack,GerardM.
Fairvalueaccountingfraud:newglobalrisksanddetectiontechniques/Gerard
M.Zack.
p.cm.
Includesbibliographicalreferencesandindex.
ISBN978-0-470-47858-5(cloth)
1. Misleadingfinancialstatements. 2. Accountingfraud. 3. Fairvalue–Accounting.
I.Title.
HF5681.B2Z2342009
657(cid:2).3–dc22
2009010848
PrintedintheUnitedStatesofAmerica
10 9 8 7 6 5 4 3 2 1
Chapter=E1FFIRS Date:June24,2009 Time:9:8am
PortionsofvariousFASBdocuments,copyright© bytheFinancialAccountingFoundation,
401Merritt7,P.O.Box5116,Norwalk,CT06856-5116,U.S.A.,arereprintedwithpermission.
CompletecopiesofthesedocumentsareavailablefromtheFAF.
Foradditionalinformation,visitwww.fasb.org.
PortionsofvariousIASBdocuments,copyright© bytheInternationalAccountingStandards
CommitteeFoundation,FirstFloor,30CannonStreet,LondonEC4M6XH,UnitedKingdom,
arereprintedwithpermission.
Foradditionalinformation,visitwww.iasb.org.uk.
Chapter=E1FFIRS Date:June24,2009 Time:9:8am
Chapter=E1FFIRS Date:June24,2009 Time:9:8am
This book is dedicated to my brothers, Bill and Ray. I am
so lucky to have two brothers who have always been
such great role models and who continue to be so
deserving of my admiration and respect, yet who
are also my best friends. I love you both dearly.
Chapter=E1FFIRS Date:June24,2009 Time:9:8am