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This paper develops a general framework under Dempster-Shafer theory for assessing fraud risk in a financial statement audit by integrating the evidence pertaining to the presence of fraud triangle factors (incentives, attitude and opportunities), and evidence concerning both account-based and evidence-based fraud schemes. This framework extends fraud risk assessment models in prior research in three...
For most small and medium sized manufacturers in China, capital shortage is a long standing issue. In order to solve this problem, nowadays, many traditional financial institutions and logistic companies have start to provide different kinds of capital flow services. In this paper, we briefly discuss the three major capital flow services in a single production cycle, which according to the capital...
Entering into an Alternative Fuels program can be a daunting task requiring the commitment of significant resources by the cement manufacturer. These resources will include both personnel within the company as well as external expertise that is brought in to assist in the process along with the financial resources required through the trials, as well as installing the necessary equipment to burn the...
In China, more and more companies are constructing internal control system as enterprise internal control basic standard (EICBS) was released last year. Based on the data obtained in a survey, we firstly examine the quality of internal control in China companies. Secondly we examine how and to what extent the firm-specific characteristics determine the quality of internal control. We find that size,...
Financial core competence is dynamic in the process of the corporation's development. This paper analyzed the evolution process of the financial core competence system by use of complex systematic theory and ascertained that financial core competence system is a complex and adaptable system. According to the principle of complex systematic theory, the systematic evolution process model is established,...
This paper develops a balanced performance measurement scorecard for a product-service system (PSS) from following four perspectives: customer, finance, business process integration, and learning and growth. The balanced cube framework of performance measurement for a PSS is presented first. Then, the multi-levels balanced scorecard and performance measures is developed and supported by large enterprise...
A series of extra large financial frauds and audit failure cases, represented by Enron and WorldCom, has attracted close attention of legislation on the effectiveness of internal control over financial reporting. After the enactment of Sarbanes-Oxley Act of 2002 (US-SOX) in the United States, similar law and regulations are also published in Japan (J-SOX). This paper will compare and contrast J-SOX...
Given the price of pledged inventory follows geometric Brownian motions, the paper implements risk estimation strategies of "main body+ debt" and comparatively analyzes loan-to-value ratio decision of banks under static pledge and dynamic pledge fashion. Based on these theory results, the case about inventory financing developed by banks and cooperating logistic firms is analyzed. The study...
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