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Accounting fraud
how does government detect accounting fraud like manipulation of financial statements , not recording sales in book of account ??
Replies (5)
I never did that, there is are two measures called as Z-score which predicts bankruptcy and M-score which interprets fraud
That should be detected by Government as per Recommendation given by CA&G appointed by Government
Govt Portal has tools like red flagging on various parameters, enforcement wing,dept also from time to time take criteria like e-way bills of new registered dealer,non filers, circular trading, related parties transactions to keep check
That is possibly true. I bet the red flags could be wrong as per my knowledge cause audit threshold gives margin for 3% error. Consider an accountant cheating 3 lakhs from 5 crores revenue, how will the red flag. I am assumptions only and not sure if threshold limits are applicable in India.
***assuming and sry for typo error
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