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COOKING THE BOOKS: CREDIT CRUNCH PROVIDES MORE WORK FOR FORENSIC ACCOUNTANTS

Forensic accountants in India are reported to work on several cases of senior management fraud. Many of these cases relate to increasing profits through unethical and fraudulent practices.   The culprit is variable compensation, especially in cases where variable compensation is a multiple of fixed compensation.   According to accountants and lawyers interviewed by the Business Standard indicated that more of such ... Read More »

RENEWED FOCUS ON IMPORTANCE OF RISK MANAGEMENT

As the financial crisis spreads and threatens the world economy, the importance of risk management has never been greater. Indeed, given the fact the crisis was not caused by any single type of risk but a mix of market risk, credit risk, operational risk and others, the urgency for banks to move to a holistic risk management approach cannot be ... Read More »

AUSTRALIAN BUSINESS EXPECTATION SURVEY INDICATES MORE PAIN

Australia’s business executives are anticipating a further decline in economic conditions in the December quarter as high fuel prices, continued inflationary pressures and a cut back in consumer spending hurt sales and profit margins.  All indexes except selling prices remain in negative territory.  Sales and profits growth expectations continue to fall, down 42 and 41 points respectively from the highs ... Read More »