Cooking the books: The case of Malaysian Listed Companies

Cooking the books refers to fraudulent accounting activities undertaken by a business to falsify its financial statements. Thus, the objectives of this study are to investigate what the cooking-the-books activities carried out by businesses consist of, how they conduct them, and what the impact is o...

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Main Authors: Abdul Hamid, Fathilatul Zakimi, Shafie, Rohami, Othman, Zaleha, Wan Hussin, Wan Nordin, Fadzil, Faudziah Hanim
Format: Article
Language:English
Published: Center for Promoting Ideas (CPI), USA 2013
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Online Access:http://repo.uum.edu.my/12287/1/20.pdf
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spelling my.uum.repo.122872016-04-14T03:06:28Z http://repo.uum.edu.my/12287/ Cooking the books: The case of Malaysian Listed Companies Abdul Hamid, Fathilatul Zakimi Shafie, Rohami Othman, Zaleha Wan Hussin, Wan Nordin Fadzil, Faudziah Hanim HF5601 Accounting Cooking the books refers to fraudulent accounting activities undertaken by a business to falsify its financial statements. Thus, the objectives of this study are to investigate what the cooking-the-books activities carried out by businesses consist of, how they conduct them, and what the impact is on the business and its shareholders.The case study sample companies are two Malaysian companies that had received various awards from reputable third-party organizations. On the other hand, the activities undertaken in both companies have caused them to be labelled as Malaysian mini Enrons. We employ a qualitative research methodology as most prior research employs a quantitative methodology to investigate the determinant factors in businesses’ cooking-the-book activities.The result of the study shows that the managers have used their positions, prior experience, and regulatory loopholes in their activities.Furthermore, the financial report restatement and higher reported earnings are the early warning s ignals of their activities.As a result of this, the Malaysian Securities Commission has revised the corporate governance code, and among others incorporated the Audit Oversight Board, known in the US as the Public Company Accounting Oversight Board. Center for Promoting Ideas (CPI), USA 2013-10 Article PeerReviewed application/pdf en http://repo.uum.edu.my/12287/1/20.pdf Abdul Hamid, Fathilatul Zakimi and Shafie, Rohami and Othman, Zaleha and Wan Hussin, Wan Nordin and Fadzil, Faudziah Hanim (2013) Cooking the books: The case of Malaysian Listed Companies. International Journal of Business and Social Science (IJBSS), 4 (13). pp. 179-186. ISSN 2219-1933 http://ijbssnet.com/index.php/home
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HF5601 Accounting
spellingShingle HF5601 Accounting
Abdul Hamid, Fathilatul Zakimi
Shafie, Rohami
Othman, Zaleha
Wan Hussin, Wan Nordin
Fadzil, Faudziah Hanim
Cooking the books: The case of Malaysian Listed Companies
description Cooking the books refers to fraudulent accounting activities undertaken by a business to falsify its financial statements. Thus, the objectives of this study are to investigate what the cooking-the-books activities carried out by businesses consist of, how they conduct them, and what the impact is on the business and its shareholders.The case study sample companies are two Malaysian companies that had received various awards from reputable third-party organizations. On the other hand, the activities undertaken in both companies have caused them to be labelled as Malaysian mini Enrons. We employ a qualitative research methodology as most prior research employs a quantitative methodology to investigate the determinant factors in businesses’ cooking-the-book activities.The result of the study shows that the managers have used their positions, prior experience, and regulatory loopholes in their activities.Furthermore, the financial report restatement and higher reported earnings are the early warning s ignals of their activities.As a result of this, the Malaysian Securities Commission has revised the corporate governance code, and among others incorporated the Audit Oversight Board, known in the US as the Public Company Accounting Oversight Board.
format Article
author Abdul Hamid, Fathilatul Zakimi
Shafie, Rohami
Othman, Zaleha
Wan Hussin, Wan Nordin
Fadzil, Faudziah Hanim
author_facet Abdul Hamid, Fathilatul Zakimi
Shafie, Rohami
Othman, Zaleha
Wan Hussin, Wan Nordin
Fadzil, Faudziah Hanim
author_sort Abdul Hamid, Fathilatul Zakimi
title Cooking the books: The case of Malaysian Listed Companies
title_short Cooking the books: The case of Malaysian Listed Companies
title_full Cooking the books: The case of Malaysian Listed Companies
title_fullStr Cooking the books: The case of Malaysian Listed Companies
title_full_unstemmed Cooking the books: The case of Malaysian Listed Companies
title_sort cooking the books: the case of malaysian listed companies
publisher Center for Promoting Ideas (CPI), USA
publishDate 2013
url http://repo.uum.edu.my/12287/1/20.pdf
http://repo.uum.edu.my/12287/
http://ijbssnet.com/index.php/home
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score 13.144533