Detecting frauds: How to spot red flags in corporate financial statements

Quick Summary:

Regular internal audits and independent external reviews conducted by certified professional companies can ensure the effectiveness of internal controls and compliance with financial reporting standards and regulations.

By fostering a culture of accountability, the governance structure helps mitigate the risk of financial fraud and mismanagement.

A thorough analysis of the “Notes to Accounts” along with the auditor’s report is crucial in identifying red flags pertaining to financial statement manipulations.

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Article Details

Author / Journalist: Himanshu Arora

Category: StartupsEconomyBusiness

Markets: India

Topics: Accounting Analysis Controls Companies Fraud Help Cash Profits Statements Internal Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-14 @ 02:30:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 617 words

Reading Time: 4 minutes read

Sentences: 33 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 25137132

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About YourStory

Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

Update Frequency: 5 posts per day

Year Established: 2008

Headquarters: India

News Last Updated: 17 hours ago

Coverage Areas: India

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