Journal Article #1 The first article researched was Fraudulent Financial Statement: Evidence from Statement on Auditing Standard No. 99. The abstract discusses the goals of identifying fraud risk and predict the likely hood of financial fraud occurring. In addition, the abstract discusses the reasons financial fraud occurs. Financial fraud has always been a concern for businesses, however, it was not until the early 21st century that the United States experienced financial fraud turmoil. Enron, WorldCom, and Xerox were a few scandals that took the world by surprise (Suyanto, 2009, p. 118.) According to Suyanto, with the collapse of Enron, WorldCom, Qwest, Tyco, and Global Crossing, they accounted for around $460 billion worth of market …show more content…
The esteemed sources for this article include Cressey (1953), AICPA (2002), Rezaee (2005), Albrecht et al. (2006), Kaminski et al. (2004), Loebbecke et al. (1989), Stice (1991), Kirkos et al (2007), Persons (1995), Kreutzfeldt & Wallace (1986), Carmichael (1999), Young (2005), Chen & Elder (2007), DeFond (1992), and Farber (2005). The Literature Review discusses the fraud triangle and the three conditions fraud occurs; pressure, opportunity, and rationalization. In addition, the Literature Review talks about the what the SAS No. 99 is and how it defines financial statement …show more content…
The information was very clear, concise, and was thoroughly explained. Suyanto was able to examine the different fraud risk factors and predict the likelihood that fraud would occur within company financial statements based on the fraud triangle (p. 141). In addition, Suyanto, identified the potential fraud risks that are associated with committing fraud (p. 141). The limitations associated with this article are fraudulent company information is very limited, the only fraudulent information reported is the information required by the Securities Exchange Commission (SEC) (p.