Problem
Unethical practices of accountants
Other Names:
Fraudulent accountingEmbezzlement by accountants
Corrupt accountancy practices
Malpractice in accountancy
Illegal accounting practices
Incidence:
In 1993 it was reported that the accountancy profession as a whole faced some 4,000 lawsuits involving $30-40 billion in claims. The major accounting firms estimate that over 10% of their revenue is spent on litigation. The collapse of BCCI for example led to claims of $8 billion claims against accounting firms.
Broader Problems:
Unethical financial practices Narrower Problems:
Creative accountingMisleading accounting information due to inflationForeign currency manipulations in accounting records of transnational corporations Subject(s):
Commerce → AccountingCommerce → Currency
Innovative change → Change
Law → Legality
Societal Problems → Corruption
Societal Problems → Crime
Related UN Sustainable Development Goals:
Problem Type:
E: Emanations of other problems Date of last update
04.10.2020 – 22:48 CEST