Identification of financial statement fraud in Greece by using computational intelligence techniques

The consequences of financial fraud are an issue with far-reaching for investors, lenders, regulators, corporate sectors and consumers. The range of development of new technologies such as cloud and mobile computing in recent years has compounded the problem. Manual detection which is a traditional method is not only inaccurate, expensive and time-consuming but also they are impractical for the management of big data. Auditors, financial institutions and regulators have tried to automated processes using statistical and computational methods. This paper presents comprehensive research in financial statement fraud detection by using machine learning techniques with a particular focus on computational intelligence (CI) techniques. We have collected a sample of 2469 observations since 2002 to 2015. Research gap was identified as none of the existing researchers address the association between financial statement fraud and CI-based detection algorithms and their performance, as reported in the literature. Also, the innovation of this research is that the selection of data sample is aimed to create models which will be capable of detecting the falsification in financial statements

The impacts of electronic commerce on auditing practices: an auditing process model for evidence collection and validation

[[abstract]]The main purposes of this paper are twofold. First, the paper identifies and discusses the potential impacts of electronic commerce on auditing practices in the emerging paperless on‐line transaction environment. Second, it provides two auditing process models that incorporate modern network security techniques and show how an audit can be conducted in an EC environment. A periodical auditing process model (PAPM) is proposed to demonstrate how secure electronic technologies can be used to facilitate the auditor's evidence collection and validation process for annual and semi‐annual audits. We also present a continuous auditing process model (CAPM) which extends the functions of PAPM for continuous auditing. In CAPM, a real‐time transaction monitoring system is used to link to firms' accounting information systems for assisting the auditor to detect abnormal activities and generate exception reports on a continuous basis. The CAPM approach intends not only to ensure integrity and effectiveness of the entire accounting system, but also to guarantee the correctness and usefulness of the constantly generated financial statements for public dissemination. The main contribution of this paper is that it illustrates a conceptual framework which shows the feasibility of continuously auditing electronic transactions in the EC environment.[[journaltype]]國

The Role and Impact of Financial Advisors in the Market for Municipal Bonds

Municipal bonds, Monitoring, Financial advisors, G21, G24, G38,

Board independence and market reactions around news of stock option backdating

Board Independence, Option Backdating, G3, G34,