accounting fraud

Accounting fraud occurs when individuals manipulate a company's financial records with the intent to deceive others about its financial health. This may involve overstating revenues, hiding expenses, or inflating assets to make the company appear more profitable or stable than it really is. Such actions can mislead investors, creditors, and regulatory bodies, potentially resulting in financial losses, legal penalties, and damage to the company's reputation. Essentially, accounting fraud undermines the integrity of financial reporting by intentionally falsifying figures to serve personal or corporate interests.