Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 14: Dynegy (2002)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …ultimately given a 15-month prison term. Helen Sharkey, a mem- ber of Dynegy’s risk control and deal structure group, had to spend 30 days in jail. The third…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 15: Xerox (2002)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …SEC. “Rather than put at risk a lucrative financial relationship with a premier client, KPMG and its partners abdicated their responsibility to make…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 21: HealthSouth (2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …to risk criminal prosecution for any deception. Scrushy’s case was the first “test” of that provision.) However, since the HealthSouth scandal…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 23: Computer Associates International (2004)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …the outside world.” Dunfee added that healthy compa- nies could minimize the risk of this “downward slide” by encouraging and protect- ing…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 24: AIG (2005)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …underestimates its risk exposure and fails to collect enough premiums). As a huge multinational company, with a history of being extremely well run, AIG had one… …Re” transactions Questions about legitimate reinsurance (which is “insurance for insurance” and is intended to spread out risk) lay at the heart of… …a foreign subsidiary of Gen Re (a Connecticut-based holding company for global risk management operations). The transactions were structured to make… …it appear that Gen Re was paying AIG to share some of its claim risk. But investigators found no evidence of risk transfer from Gen Re to AIG. In…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 25: Bernard Madoff (2008)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …its risk management processes. Be- Accounting Fraud in U.S. Companies 164 sides, the fraud continues to reverberate on Wall Street. A number of… …References: Clauss, Pierre / Roncalli, Thierry / Weisang, Guillaume: Risk Management Lessons from Madoff Fraud, www.papers.ssrn.com, April 2009…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 26: Juergen Schneider (Germany, 1994)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …behaviour as a serious and important businessman. It also appeared that they were seduced into taking the risk by the promise of big profits. The scam ran… …rent if business was going slow. Apparently, neither the auditors employed by the banks to gauge their credit risk nor the banks themselves ever asked…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 30: Lernout & Hauspie Speech Products (Belgium, 2000)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …from any risk of non-collection. The side letters (that were concealed from the auditors) gave the banks the right to take the money back if they could…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 31: Bankgesellschaft Berlin (Germany, 2001)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …mix of businesses made it difficult for the supervisory board of the parent institution to maintain control and insist on clear risk reporting from… …the assignment of shares in various real estate funds (the so-called “VIP funds”), with which the entire risk was removed for each investor. The… …admitted it could not complete its 2000 accounts because of the ongoing investiga- tion and deep uncertainties about the potential risk in the… …second transaction in December 2001, the severely cash-strapped state provided another EUR 21.6 billion in risk guarantees (the so- called “risk shield”)… …, management was not able to uncover the full extent of the bank’s risk exposure or to push through the necessary changes. In November 2001, the BGB board… …BGB’s risk management was insufficient and that its risk provisions had to be revised upwards. But he had sounded the alarm in vain. BGB asked him to… …learned from the BGB debacle was that politicians and bank risk management don’t mix well. The new BGB chairman, Hans-Joerg Vetter, put forward a plan…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 34: Royal Ahold (The Netherlands, 2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …that no matter what they do, the risk of heavy punishment is minimal. In the U.S., a con- viction on the same facts would have led to a prison term of…