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    Solution of AdaptingCreative Accounting Practice: An in depth perception gap analysis among Accountantsand Auditors of Listed Companies

    Access Status
    Fulltext not available
    Authors
    Karim, A.
    Shaikh, Junaid
    Hock, O.
    Islam, R.
    Date
    2016
    Type
    Journal Article
    
    Metadata
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    Citation
    Karim, A. and Shaikh, J. and Hock, O. 2016. Solution of AdaptingCreative Accounting Practice: An in depth perception gap analysis among Accountantsand Auditors of Listed Companies. Australian Academy of Accounting and Finance Review. 2 (2): pp. 166-188.
    Source Title
    Australian Academy of Accounting and Finance Review
    ISSN
    2205-6688
    School
    CBS International
    URI
    http://hdl.handle.net/20.500.11937/53544
    Collection
    • Curtin Research Publications
    Abstract

    Creative Accounting, also known as cosmetic accounting or window dressing, are accounting applications whereby accountants may take advantage of the loopholes in the accounting policies according to the International Accounting Standards (IAS), Generally Accepted Accounting Principles (GAAP). Auditors may also overlook such practices, as they are not considered fraudulent. The concerned parties involved takes advantage of the accounting policy loopholes to make a lucrative financial statement. This research is conducted on the empirical data collected from the auditors and the accountants of the listed companies in Bangladesh to determine the solution of adapting Creative Accounting practices among accountants and auditors. Solution to this practice can be achieved by imposing punitive measures by national bodies, introducing forensic accounting practice, and forensic cell to monitor the practices and compliance, giving emphasis to ethical code of accounting practice, and creating mass awareness among the investors regarding its practice.

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