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Identification of related party transactions

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Reference no: EM133198125

No transactions involving a company and affiliates were properly disclosed in the firm's financial statements. All of those transactions were related party transactions. All of those transactions should have been fully disclosed under the accounting standards. None were disclosed. Next, the firm did not have adequate internal controls and those which relate to the identification of related party transactions.

Identify 4 recommendations to prevent the above-case accounting fraud

Reference no: EM133198125

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