ABSTRACT

Selected as an Outstanding Academic Title by Choice Magazine in 2014!

Called to Account takes a broad perspective on how financial frauds have shaped the public accounting profession by focusing on cases of fraud around the globe. Ever entertaining and educational, the book traces the development of the accounting standards and legislation put in place as a direct consequence of these epic scandals.

The new edition offers updated chapters on ZZZZ Best and Arthur Andersen, plus new chapters devoted to Parmalat, Satyam, and The Great Recession. Through stories like Barry Minkow’s staged constructions sites and MiniScribe’s fake inventory number generating computer program, "Cook Book", students will learn that fraud is nothing new, and that financial reform is heavily influenced by politics.

With discussion questions and a useful chart showing instructors and students how each chapter illustrates the topics covered in other textbooks, Called to Account is the ideal companion for any class in auditing, advanced accounting or forensic accounting.

part |2 pages

Introduction

chapter 1|12 pages

Scandal and Reform

part |2 pages

Part I Birth of a Profession

chapter 2|6 pages

Out of Darkness

chapter 3|7 pages

Ivar Kreuger

chapter 4|5 pages

McKesson & Robbins

chapter 5|8 pages

Into the Spotlight

part |2 pages

Part II The Profession’s Principle Problem

chapter 6|8 pages

Generally Accepted Accounting Principles

chapter 7|8 pages

National Student Marketing

chapter 8|7 pages

Equity Funding

chapter 9|11 pages

Déjà Vu

part |2 pages

Part III The Savings & Loan Crisis

chapter 10|7 pages

It’s a Wonderful Life?

chapter 11|8 pages

ESM Government Securities

chapter 12|8 pages

Lincoln Savings & Loan

chapter 13|13 pages

Bank Robbers

part |2 pages

Part IV The Expectation Gap

chapter 14|9 pages

Auditors and Fraud

chapter 15|9 pages

ZZZZ Best

chapter 16|7 pages

Crazy Eddie

chapter 17|7 pages

Closing the Gap

part |2 pages

Part V The Litigation Crisis

chapter 18|15 pages

Auditors’ Legal Liability

chapter 20|8 pages

MiniScribe

chapter 21|9 pages

Litigation Reform

part |2 pages

Part VI Beginning of the End

chapter 22|9 pages

Auditor Independence

chapter 23|8 pages

Waste Management

chapter 24|8 pages

Sunbeam

chapter 25|9 pages

End of the Millennium

part |2 pages

Part VII From Profession to Regulated Industry

chapter 26|12 pages

Professionalism

chapter 27|10 pages

Enron

chapter 28|11 pages

WorldCom

chapter 29|11 pages

The Perfect Storm

part |2 pages

Part VIII The World is Flat

chapter 30|7 pages

It’s a Small World

chapter 31|8 pages

Parmalat

chapter 32|6 pages

Satyam

chapter 33|11 pages

The Great Recession

chapter 34|9 pages

Conclusion