Evaluation of Fraud Examinations: The Case of Inappropriate Accounting Practices at Fuji Xerox

Abstract

There is a growing business for global auditing firms and local law firms as well as independent detectives to conduct forensic investigations at client organizations when there is suspicion of white-collar misconduct and crime. Client organizations normally do not disclose investigation reports. An investigation report concerned with inappropriate accounting practices at Fuji Xerox in New Zealand is publicly available. This article presents an evaluation of the investigation. Specifically, this article focuses on the mandate, where examiners where asked to find causes of misconduct. Examiners present eight reasons for inappropriate accounting practices. However, as discussed in this evaluation, the report of investigation presents little or no evidence for most of the causes.

Insights from forensic accounting educators and practitioners within the KSA context regarding the optimal forensic accounting skills set: an implication on the socioeconomic development

“…In courts, accounting professionals can translate financial data, which is insufficient, especially when the case is complicated (Al-Twaijry et al, 2003;Suleiman and Othman, 2021). Thus, forensic accountants are the sole expert witnesses who, based on their professional expertise, can interpret otherwise complex financial information (Gottschalk, 2019;Singleton and Singleton, 2010).…”

“…, 2003; Suleiman and Othman, 2021). Thus, forensic accountants are the sole expert witnesses who, based on their professional expertise, can interpret otherwise complex financial information (Gottschalk, 2019; Singleton and Singleton, 2010).…”

Analyzing the barriers to putting corporate financial expropriations to a halt: A structural modeling of the phenomenon

“…These panics created company failures, and the literature is rich with examples, such as Adelphia (Barlaup, Drønen and Stuart, 2009), Arthur Andersen (Blouin, Grein, and Rountree, 2007), Bristol-Myers Squibb (Warin and Jaffe, 2007), Computer Associates , Enron (Li, 2010), HealthSouth (Sanchez and Zhang, 2012), Marsh and McLennan (Barnabas, Anbarasu, and Clifford, 2010), Parmalat (Melis, 2005), PNC Financial Services (Sangani, 2017), Qwest (Rijsenbilt and Commandeur, 2013), Waste Management (Hewiagh, Ramakrishnan, Yap and Tan, 2021), WorldCom (Sidak, 2003), Xerox (Gottschalk, 2019), Volkswagen (Li et al, 2018), SanLu (Charlebois et al, 2013), Satyam Computers (Bhasin, 2013), Tragedy of Bhopal (Mishra et al, 2009), Bank of Credit and Commerce International (Herring, 2004), and Bearings Bank (Herring, 2004). These monsters defrauded/stolen/eaten up/ expropriated trillions of dollars of investors through tunneling, channel-stuffing, cookie-jar accounting, fake sales, fake financial statements, inflating/understating revenues/assets/liabilities, bribery, money laundering, drug trafficking, supporting terrorism, capacity swapping, insider trading, false disclosures, manipulation of share prices, mark-to-mark accounting, complicated cash management, and heavy personal loans/expenses.…”