Following the fraud scandals in large companies like Enron, WorldCom, and Xerox, investors' concern about fraud in general and fraudulent financial reporting in particular increased and is on the rise. In response to these concerns, auditing standards setters have issued fraud standards that...

Fraud in corporations is a topic that receives significant and growing attention from regulators, auditors, and the public. Increasingly external auditors are being asked to play an important role in helping organizations prevent and detect fraud. Detecting fraud is not an easy task and requires...

Purpose: The purpose of this study is to determine distributional properties of the accumulated rate of interest when the instantaneous rate of interest evolves in terms of the Cox et al. (1985) square root process. Design/methodology/approach: The law of iterated (or double) expectations is...

Purpose: The purpose of this paper is to investigate whether levels-classified fair values of US banks based on SFAS 157: Fair Value Measurements, as recognised in the quarterly financial statements of the banks over the period from 2008 until 2015, have predictive value in relation to the...

Our concern in the present paper is with an empirical evaluation of the relevance of published depreciation numbers. We report results of an attempt to assess the correspondence between the depreciation rates implied by published financial statements and the market-based rates implied by time...