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LogoutFinancial statement manipulation is a kind of accounting fraud that is still prevalent in the business world. The structure of management incentives, the enormous latitude afforded by Generally Accepted Accounting Principles (GAAP), and the ever-present conflict of interest between the independent auditor and the corporate client continue to provide the perfect environment for such activity.
As a result of these variables, investors who buy individual stocks or bonds need to be aware of the concerns, warning signals, and instruments available to them in order to reduce the negative consequences of these difficulties.