Dear All,
Please guide me on below mentioned
1: If a group would not consolidate its account and use its group companies to hide its loses.
( Fradulant Presentation of Financial Statement )
Where it should be reported and how.specialy in focus of UAE.
1: If a chartered accountant firm voilating professional and ethical code of conduct and supporting to produce Fradulant Financial Statement.
Where it should be reported and how.specialy in focus of UAE.
I shall be obliged for quick and comprehencive guidance.
Ahmad

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Dear all, kindly advice if the Suggested treatment of fraud,error e.t.c discovered which result in overstatement of cash book balance is correct:
Scenario
During preparation of bank reconciliation the cash book balance is discovered to be more by say $550,000.the accountant then decides to transfer this amount to debtors saying that this where it came from which ofcourse is not the right way of treating irregularity.
Suggested correcting entries
Dr cash and bank $550,000
Cr Debtors $550,000
Being correction of fraud, errors etc wrongly taken to debtors.
Dr Equity (There are no reserves) …