Thursday, Mar 8, 2018
1:00pm – 3:00pm
- Find the non-financial risks of revenue manipulation
- Recognize where the financial statements are at risk
- Link financial and non-financial metrics to minimize malpractice liability
Using 10 real cases, Gary will show you why the new monster accounting standard on revenue recognition misses simple yet crucial risks that incent entities to manipulate revenue.
- Pricing risks
- Legal risks
- Finding revenue of omission
- Risk to revenue from advertising
- Risk from the audit requirement to "understand the entity"
- How even a small amount of revenue is material
- Why customer payment doesn't mean that revenue was legally earned
- How non-financial metrics are a red flag to revenue manipulation
- How to link usually separate analytical procedures to find revenue fraud
- How to use contracts and bank loans to identify revenue risk