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Gorenc, M (2017)

Detection of theft and frauds from financial statements

Poslovna forenzika : zbornik 1. konference, september 2017 - Letn. 10, št. 3/4 (sep. 2017), str. 256-278.

ISSN/ISBN: Not available at this time. DOI: Not available at this time.

Note - this is a foreign language paper: SLV

Abstract: Scams and frauds are encountered in media reporting, at work, and ultimately in private life. Financial statements manipulation and economic crime in general are more frequent in times of economic crisis when companies reach for different methods and techniques to manipulate financial statements. Benford's law has been used abroad for quite some time in detecting irregularities in the financial statements. Benford's law can be used as a quick test for checking whether the accounting data is reliable (credible) or made up (i.e. a scam is present). The test can be used to suspect fraud when the first digits are distributed in a different way than they should be if they were results of calculations. Of course, this is not enough to prove fraud in the court, in this way we only get the basis for further investigations.

@inproceedings{, AUTHOR={Gorenc, Mateja}, TITLE={Detection of theft and frauds from financial statements}, BOOKTITLE={Poslovna forenzika : zbornik 1. konference, september 2017. - Letn. 10, št. 3/4}, ADDRESS={}, MONTH={September}, YEAR={2017}, URL={}, }

Reference Type: Conference Paper

Subject Area(s): Accounting