BNET Business Dictionary
Business Definition for: Corporate Fraud
- fraud committed by large organizations, rather than individuals. Auditing practice around the world, but especially in the United States, has come under much scrutiny since the collapse of Enron and WorldCom in 2001 and 2002 respectively. Both companies had overstated their profits, but the auditors, Arthur Andersen, had approved accounts in each case.
Additional Resources
- American Lawyer Investigation Reveals Steep Dropoff in Justice Department Corporate Fraud Prosecutions
- NEW YORK -- The American Lawyer today released the results of its independent investigation into the work of the Department of Justice's Corporate Fraud Task Force, revealing a precipitous decline in the number of major corporate fraud indictments since 2005. While the magazine's analysis shows 357 indictments in major corporate...
- Research articles 2007-11-01
- Oversight Systems Corporate Fraud Survey Finds Sarbanes-Oxley Effective in Identifying Financial Statement Fraud; Few Feel the Heightened Push for Institutional Integrity and Fraud Prevention by Business Leaders Will Continue in the Long Run
- ATLANTA -- Oversight Systems Inc. today announced the findings of the "2005 Oversight Systems Report on Corporate Fraud," a survey of certified fraud examiners. The report explains that most fraud examiners view Sarbanes-Oxley SOX as an effective tool in fraud identification, though few think it will change the culture of...
- Research articles 2005-11-01
- Department of Justice Fact Sheet: Corporate Fraud Task Force
- WASHINGTON, Aug. 9 /U.S. Newswire/ -- Since its creation by Executive Order in July 2002, the Corporate Fraud Task Force CFTF has spearheaded the administration's effort to prosecute corporate malfeasance, protect the jobs of hard-working Americans and WASHINGTON, Aug. 9 /U.S. Newswire/ -- Since its creation by Executive Order in...
- Research articles 2006-08-09
- Fact Sheet: President's Corporate Fraud Task Force Marks Five Years of Ensuring Corporate Integrity
- To: POLITICAL EDITORSContact: U.S. Department of Justice Office of Public Affairs, +1- 202-514-2007, TDD: +1-202-514-1888 WASHINGTON, July 17 /PRNewswire-USNewswire/ -- President Bush created the President's Corporate Fraud Task Force on July 9, 2002 to restore public and investor confidence in America's corporations following a wave of major corporate scandals. Since...
- Research articles 2007-07-17
- Prepared Remarks of Attorney General Alberto R. Gonzales at thePress Conference Regarding KPMG Corporate Fraud Case
- WASHINGTON, Aug. 29 /U.S. Newswire/ -- The following is a transcript of remarks of Attorney General Alberto R. Gonzales at the press conference regarding KPMG corporate fraud case: WASHINGTON, Aug. 29 /U.S. Newswire/ -- The following is a transcript of remarks of Attorney General Alberto R. Gonzales at the press...
- Research articles 2005-08-29
- FBI turns industry probe toward allegations of corporate fraud.(Briefing: Highlights From BestWeek)
- The U.S. Federal Bureau of Investigation is mobilizing dozens of agents from its Financial Crimes Section to investigate allegations of corporate fraud in the insurance industry, raising the specter of possible criminal charges against companies or e The U.S. Federal Bureau of Investigation is mobilizing dozens...
- Research articles 2005-06-01
- US Justice Dept. wraps up busy year busting corporate fraud
- WASHINGTON AFP — The US Justice Department has wrapped up a busy year of busting corporate fraud after criminal prosecutions of corrupt executives and businesses through 2006 secured some of the biggest fines in the department's history. In a summary issued Thursday, the department said its antitrust division obtained the...
- Research articles 2006-12-22
- Attorney General Alberto R. Gonzales and Deputy Attorney General Paul J. McNulty to Deliver Remarks at the Fifth Anniversary of the President's Corporate Fraud Task Force
- To: LEGAL AFFAIRS EDITORSContact: U.S. Department of Justice, +1-202-514-2007, TDD: +1-202- 514-1888 WASHINGTON, July 16 /PRNewswire-USNewswire/ -- Attorney General Alberto R. Gonzales, Deputy Attorney General Paul J. McNulty, SEC Commissioner Kathleen Casey, FBI Deputy Director John Pistole, and other members of the President's Corporate Fraud Task Force will deliver remarks...
- Research articles 2007-07-16
- Prepared Remarks of Deputy Attorney General Paul J. McNulty at the Corporate Fraud Task Force Fifth Anniversary Event
- To: LEGAL AFFAIRS EDITORSContact: U.S. Department of Justice, +1-202-514-2007, TDD: +1-202- 514-1888 WASHINGTON, July 17 /PRNewswire-USNewswire/ -- The following is a transcript of prepared remarks of Deputy Attorney General Paul J. McNulty at the Corporate Fraud Task Force fifth anniversary event: Thank you very much for that introduction. I...
- Research articles 2007-07-17
- Attorneys, Investigators and Litigators Discuss Motivations for Corporate Fraud at Forensic Investigations Conference: White Paper Released
- NEW YORK -- Panel discussions among white collar criminal defense attorneys, in-house counsel, forensic investigators, litigators and former prosecutors recently addressed current corporate fraud enforcement actions and key strategies for conducting forensic investigations at American Conference Institute's Conducting Forensic Investigations conference, sponsored by Deloitte Financial Advisory Services LLP Deloitte FAS....
- Research articles 2007-04-02
- Former Hollinger Chairman Conrad Black and Three Other Executives Indicted in U.S. - Canada Corporate Fraud Schemes
- CHICAGO - New federal fraud charges involving the $2.1 billion sale of several hundred Canadian newspapers and the alleged abuse of corporate perks were returned today against Conrad M. Black and three other former top executives of a largely-dismantled global publishing empire (Part 2 of 3): Mr. Fitzgerald and Assistant...
- Research articles 2005-11-17
- Corporate fraud on the rise
- A SURVEY OF PROFESSIONAL investigators and risk managers conducted by Deloitte Forensic reveals there has been a significant increase in fraud activity in the last year. The survey, which polled the 125 delegates at the 2004 Asia Pacific Fraud Convention, showed an overwhelming majority of respondents [82%] said they...
- Research articles 2004-09-30
- Corporate Fraud Penalties Under Fire.
- Evening Standard, London Knight Ridder/Tribune Business News Dec. 27--The US Department of Justice has condemned the Sentencing Commission's proposals to toughen penalties for corporate fraud, saying they would change little. The Commission was ordered by Congress to review its guidelines...
- Research articles 2002-12-27
- Prepared Remarks of Attorney General Alberto R. Gonzales at the Corporate Fraud Task Force 5th Anniversary Event
- To: POLITICAL EDITORSContact: U.S. Department of Justice, +1-202-514-2007, TDD: +1-202- 514-1888 WASHINGTON, July 17 /PRNewswire-USNewswire/ -- The following are prepared remarks of Attorney General Alberto R. Gonzales at theCorporate Fraud Task Force 5th anniversary event:Good morning. I am very pleased to be here to recognize the fifth anniversary of the...
- Research articles 2007-07-17
- Corporate Fraud: A Manager's Journey.(bookshelf)(K.H. Spencer Pickett)
- Corporate Fraud: A Manager's Journey. By K.H. Spencer Pickett. John Wiley & Sons, 308 pages. $60. [ILLUSTRATION OMITTED] Follow the exploits of Bill Reynolds as he tries to get his organization up to speed on fraud-control measures. Watch over his shoulder...
- Research articles 2007-11-01
- US regulators charge Parmalat with "brazen" corporate fraud
- WASHINGTON AFP ? Italian food group Parmalat engaged in a bout of "brazen" corporate fraud that represents one of the biggest financial frauds in history, the US' top securities regulator claimed. The Parmalat affair is fast becoming Europe's biggest securities scandal with all the hallmarks of an Enron-type meltdown....
- Research articles 2003-12-30
- House Passes Corporate Fraud Bill with Tough Criminal Penalties.
- By David Ivanovich, Houston Chronicle Knight Ridder/Tribune Business News Jul. 17--WASHINGTON--Not to be outdone by the Senate, the Republican-led House hurriedly passed a corporate fraud bill Tuesday with stiffer penalties than those adopted by the Senate one day earlier. With the...
- Research articles 2002-07-17
- Crackdown on Corporate Fraud Moves to Front Line.
- By MICHELLE MITTELSTADT, The Dallas Morning News Knight Ridder/Tribune Business News Jul. 25--WASHINGTON - Rattled by business scandals and the roiling stock market, a nervous Washington moved on twin fronts Wednesday to crack down on corporate fraud. Congress took...
- Research articles 2002-07-25
- Challenges For Equity Investors: Corporate Fraud
- The article describes that past 12 months have been challenging for equity investors. During this period the market had to absorb concerns over corporate fraud, Iraq, SARS, North Korean nuclear rhetoric and a lethargic global economy. The prevailing low-interest-rate environment has begun to expand equity valuations as investors sought better...
- White papers 2003-08-05
- Justice Department's corporate fraud policy protested
- A business leader claims that the Justice Department's corporate fraud policy is unfair to many companies and undermines investigations of Sarbanes-Oxley violations.
- Research articles 2006-11-01
