Black sheep on green pastures-prevention and disclosure of accounting fraud in the federal republic of germany- a study on the effectiveness of the legal guidelines for preventing and disclosing accounting fraud
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Discipline/sAdministración y Dirección de Empresas
According to a study of KPMG in 2010 the share of companies regarding white collar crime as a serious problem for economy increased by nine percent in 2006 to 2010. Blue chips companies even valued this problem at ninety percent. It was assumed that the extend of economy crimes will increase further. The German Federal Office of Criminal Investigation stated that white collar crime is responsible for more than 4 Billion €, which exceeds fifty percent of the total damage for the year 2011. Criminal offences in financial statements, the topic of this investigation started in spring 2011, are mainly carried out without being realised. Therefore it is impossible to furnish reliable figures in undetected crimes; however according to appropriate literature it is estimated up to 80 percent. The reasons for this are seen in insufficient regulations of legal guidelines by a number of authors. The focus should especially be directed to the question how the measures of detection and prevention ...