Some big financial frauds have been witnessed in the recent past involving huge loss of
public money. The sustainability of investment firms is highly dependent on the financial and accounting operations that relay the transparency, accountability, and profitability, which attracts investors. In certain instances, firms may incur significant financial failure, lawsuits, and bankruptcy following accounting fraud involving manipulation of financial statements to imply excessive profitability. Despite the possible short-term
economic benefits derived from accounting fraud, the outcomes for culpable firms involve a decline in financial performance, massive fines, and bankruptcy.
Herewith a short description report