| 000 | 04998nam a22005055i 4500 | ||
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| 001 | 978-3-031-59854-8 | ||
| 003 | DE-He213 | ||
| 005 | 20251030112631.0 | ||
| 007 | cr nn 008mamaa | ||
| 008 | 240716s2024 sz | s |||| 0|eng d | ||
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_a9783031598548 _9978-3-031-59854-8 |
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_a10.1007/978-3-031-59854-8 _2doi |
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| 050 | 4 | _aHF5667-5668.252 | |
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_aKFCM _2bicssc |
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_aBUS003000 _2bisacsh |
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_aKFCM _2thema |
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| 100 | 1 |
_aLöw, Edgar. _eauthor. _4aut _4http://id.loc.gov/vocabulary/relators/aut _980666 |
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| 245 | 1 | 4 |
_aThe Audit Failures of the Wirecard Scandal _h[electronic resource] : _bExamining the Role of the Auditor in Regulatory Oversight / _cby Edgar Löw, Reinhard Heyd. |
| 250 | _a1st ed. 2024. | ||
| 264 | 1 |
_aCham : _bSpringer Nature Switzerland : _bImprint: Palgrave Macmillan, _c2024. |
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| 300 |
_aXVI, 173 p. 13 illus., 12 illus. in color. _bonline resource. |
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| 336 |
_atext _btxt _2rdacontent |
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| 337 |
_acomputer _bc _2rdamedia |
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| 338 |
_aonline resource _bcr _2rdacarrier |
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_atext file _bPDF _2rda |
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| 505 | 0 | _a1. Wirecard – Chronicle, Public allegations, and the Downfall of the company -- 2. Fundamental Principles of an Audit -- 3. Wirecard´s business model -- 4. Fiduciary relationships -- 5. Trade Receivables versus Cash and Cash equivalents -- 6. Sales revenue and Commissions -- 7. Segment Reporting -- 8. Risk Reporting in the Notes of the Consolidated Financial Statements and Group Management Reports -- 9. Audit Opinion and Auditor's Report -- 10. Concluding remarks. | |
| 520 | _aWirecard was the largest economic scandal in the history of Germany. Following the collapse of Wirecard, numerous lawsuits, both criminal and civil by equity and debt investors, were filed not only against Wirecard but also against the auditor Ernst & Young. This book demonstrates that a proper audit in accordance with the auditing standards would have uncovered the fraud much earlier, and details what went wrong. The book first deals with the fundamentals of auditing and examines the Wirecard business models from a legal and economic perspective. Then, the book deals with the fiduciary structure, which there has been often debated. When the fraud was uncovered, it became clear that 1.9 billion Euros that were supposed to be in escrow accounts were not. The book discusses the balance sheet mapping in detail, including the related audit requirements and examines in which balance sheet item the amounts (allegedly) in escrow accounts should have been reported, before examining and weighing the corresponding income statement items. In each chapter, not only are the accounting requirements presented, but the requirements for audit measures based on the respective Standards on Auditing are highlighted and explained in detail. The book places the requirements for reporting in the context of the Wirecard case, and will be of interest to accountants, auditors, market regulators, and credit risk analysts alongside students of accounting/auditing. Edgar Löw is a Professor of Accounting and the Program Director of the Master in Auditing at the Frankfurt School of Finance & Management. He teaches courses on banking and financial instruments accounting as well as national and international accounting standards. Löw also serves as a member of several professional bodies including the German Institute of Public Auditors, the European Financial Reporting Advisory Group, the European Banking Authority and Accountancy Europe. Before joining academia, Löw held several senior positions in the banking and audit industry, working for Deutsche Bank, Arthur Andersen, and KPMG in Frankfurt. Before joining Frankfurt School’s Accounting Department, Löw was a partner at Ernst & Young in Eschborn/Frankfurt, serving as the Head the Professional Practice Department FSO and of Financial Accounting Advisory Services Banks Germany. Reinhard Heyd is a Professor of Accounting and Auditing at Aalen University and provides lectures in financial accounting and auditing. In addition, he is an honorary professor at the University of Ulm and the author of numerous books and papers about accounting, auditing, and corporate governance. | ||
| 650 | 0 |
_aAuditing. _960872 |
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| 650 | 0 |
_aAccounting. _957622 |
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| 650 | 1 | 4 |
_aAuditing. _960872 |
| 650 | 2 | 4 |
_aFinancial Accounting. _957570 |
| 700 | 1 |
_aHeyd, Reinhard. _eauthor. _4aut _4http://id.loc.gov/vocabulary/relators/aut _980667 |
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| 710 | 2 | _aSpringerLink (Online service) | |
| 773 | 0 | _tSpringer Nature eBook | |
| 776 | 0 | 8 |
_iPrinted edition: _z9783031598531 |
| 776 | 0 | 8 |
_iPrinted edition: _z9783031598555 |
| 776 | 0 | 8 |
_iPrinted edition: _z9783031598562 |
| 856 | 4 | 0 | _uhttps://doi.org/10.1007/978-3-031-59854-8 |
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| 912 | _aZDB-2-SXEF | ||
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