Forensic Accounting Essay

Criminological Accounting Essay Criminological Accounting Essay THE EVOLUTION OF THE Bookkeeping QUALITY MODEL Sam Ferguson Regis University Development in the Era of â€Å"Big Data† gave a normalized PC Readable Language and eXtensible Business Detailing Language Oversight and The U.S. Protections and Trade Commission’s â€Å"RoboCop† Presenting... XBRL ïÆ'Ëœ In 1998, Charlie Hoffman, the â€Å"father of XBRL,† consolidated XML with HTML for client characterized information labeling ïÆ'Ëœ Each labeled component offers money, balance type, and period. ïÆ'Ëœ Layer in scientific categorizations connecting the information to bookkeeping standards. ïÆ'Ëœ Offers normalized money related report group. ïÆ'Ëœ XBRL turns into a â€Å"Twitter hashtag for the monetarily savvy† THE ACCOUNTING QUALITY MODEL THE SEC†S â€Å"ROBOCOP† Dissects DISCLOSURES WITHIN 24-HOURS POSTED TO EDGAR Gives quantitative examination to level of oddities in documenting Creates RISK SCORE AS TO LEVEL OF POSSIBLE FRAUD Hazard SCORE USED TO COBORRATES/INVALIDATES FRAUD TIPS SEC EXAMINERS FURTHER REVIEW FLAGGED FINANCIALS SEC RESPONDS WTIH COMMENT LETTER, INFORMAL INQUIRY, OR AUDIT â€Å"RoboCop’s† Profiling Techniques Profit Management Analysis Income Earned yet not Gotten Optional and NON-OBLIGATORY Include Expenses caused yet not Paid Accumulated Income Accumulated Cost s Accumulations Conceded Income Move to a Liability Revenue however not Earned Hazard Indicators: ïÆ'Ëœ Earnings Quality Management ïÆ'Ëœ Quality and Quantity of Optional Accruals Near to Peer Industry Gathering NON-DISCRETIONARY and Compulsory Conceded Cost Move to an Asset Unused Cost Amount Hazard Inducers: ïÆ'Ëœ Decrease of Market Share ïÆ'Ëœ Lower Profitability Margins Bogus POSITIVES* *†RoboCop† investigation produces chance score for kindhearted inconsistencies Masters CONS âÅ"Å¡ Customizable factor-based examination to explicit requirements âÅ"Å¡ Includes optional collections factors in its relapse examination - Exorbitant interruptions of sec requests harming impacts to notoriety Development OF THE â€Å"ROBOCOP† ïÆ'Ëœ Creation of Financial Reporting and Audit Task Force and Microcap Extortion Task Force ï‚ ² Provides bookkeeping and legitimate oversight to â€Å"RoboCop† ï‚ ² Expands policing to protections gave by microcap organizations ïÆ'Ëœ New scientific device to survey supporting composed documentation to divulgences ï‚ ² Parses the word and expressions basic in past false action ï‚ « Seek out abuse of words and â€Å"under-revelation of risk† Proposals for consistence ï€ File Accurate XBRL Reports ï€ Implement Conservative Bookkeeping Policies ï€ Conform to Peer Industry Gathering Practices ï€ Adequately Document Strategies ï€ Stay Current on SEC Administrative Activity ï€ Be Prepared for a SEC Request Book index ACFE. (2013, August). The Fraud Examiner. Recovered July 15, 2014, from ACFE: acfe.com/fraudexaminer.aspx?id=4294979300&terms=(check) Anderson, G. (2014, August 15). Retail Wire. Recovered August 16, 2014, from Forbes: forbes.com/destinations/retailwire/2014/08/15/will-amazon-be-utilizing shippers who-use-amazon-localregister/Brands, C. K. (2012, December). The SEC and Interactive Data. Vital Finance , pp. 56-57. Brands, CMA., K. (2013, September). XBRL SEC Filings Are Hampered By Errors. Vital Finance , pp. 56-57. Brands, K. (2014, June 28). Conversations. Recovered June 30, 2014, from Regis University World Class: https ://connect.regis.edu/p66ymuyj580/?launcher=false&fcsContent=true&pbMode=normal Brands, K. (2014, June 27). Conversations. Recovered June 30, 2014, from Regis University World