Falsified corporate financial statements

Abstract

The article presents the results of a study of various tools and methods for detecting falsification of financial statements, and indirect signs of its distortion. Distortion of financial statements has a significant impact on the sustainable development of the company. In recent years, financial reporting fraud has become a significant problem, both for domestic companies and in world practice. In modern conditions, companies commit fraud with financial statements in such areas as the distortion of financial information in terms of size, liabilities, costs, assets. Nowadays, the importance of financial information and the requirements for transparency and integrity are increasing, which requires the identification of tools for detecting misstatements. The subject of the study is the tools for identifying and preventing the facts of falsification of financial statements. The information base was made up of International Financial Reporting and Auditing Standards, experience in implementing measures to assess the reliability of corporate financial statements in international and domestic practice.