On Financial Institutional Fraud

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About Accounting Fraud

Definition: Any act or attempt to falsify an accounting statement for financial gain.

A clear example of accounting fraud is the act of deliberately overpricing a company’s assets in order to drive up its share price.

Another example is filing bankruptcy to avoid debt, rather than because of financial hardship.

One of the biggest accounting frauds in history occurred during the Enron scandal in 2001.

Conclusion

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