Major Financial Reporting Frauds of the 21st Century: Corporate Governance and Risk Lessons Learned

Journal of Forensic and Investigative Accounting, Vol. 3, Issue 2, Special Issue, 2011

36 Pages Posted: 11 Jun 2013

See all articles by Hugh Grove

Hugh Grove

University of Denver

Elisabetta Basilico

International Center of Corporate Governance

Date Written: November 30, 2011

Abstract

Major financial reporting frauds of the 21st Century are studied in this paper for lessons learned and strategies to reduce the incidence of such frauds in the future. As Howard Schilit observed: “I read recently that the one lesson we have learned from history is that we have learned nothing from history. Yet my mantra remains that in order to find fraud, we must study the history of fraud. A common element in all the fraud I have described is that their warning signs were not hard to find; in fact, they were hard to miss."

Keywords: financial fraud, corporate governance

JEL Classification: G30

Suggested Citation

Grove, Hugh and Basilico, Elisabetta, Major Financial Reporting Frauds of the 21st Century: Corporate Governance and Risk Lessons Learned (November 30, 2011). Journal of Forensic and Investigative Accounting, Vol. 3, Issue 2, Special Issue, 2011, Available at SSRN: https://ssrn.com/abstract=2277524

Hugh Grove

University of Denver ( email )

School of Accountancy
Denver, CO 80208-2685
United States
303-871-2026 (Phone)
303-871-2016 (Fax)

Elisabetta Basilico (Contact Author)

International Center of Corporate Governance ( email )

Pestalozzistrasse 2
P.O. Box 634
St. Gallen, 9001
Switzerland

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