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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 35 / 352

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© D.L. Crumbley

Fraudulent Financial Reporting more likely to occur if

Firm has a poor management control philosophy.

Weak control structures.

Strong motive for engaging in financial statement fraud.

Poor management philosophy:

Large numbers of related party transactions.

Continuing presence of the firm’s founder.

Absence of a long-term institutional investor.

Source: Paul Dunn “Aspect of Management Control Philosophy that contributes to fraudulent Financial Reporting,” Journal of Forensic Accounting, Vol. IV (2003), pp. 35-60

Management Control Philosophy

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