When companies report publicly about their balance sheets, this has a significant impact on capital markets. Therefore, there are considerable incentives for managers to influence the values reported in the balance sheets in their own interest. In most cases, this happens within a completely legal framework, in individual cases legal boundaries are crossed and criminal energy comes into play. Such balance sheet scandals are a recurring phenomenon. In Germany, the manipulated balance sheets of the Dax group Wirecard recently made headlines. Even though every scandal is unique, there are systematic patterns in how managers proceed when manipulating balance sheets and how politicians or regulatory authorities react to them. The presentation will place the Wirecard case into this history and use current events to explain how balance sheet fraud can be detected and prevented - and what risks remain for capital market participants.
This lecture will be held in German. You can access this online event via Portal2.