You have it...i.e. liability. That is, you are liable for fraud if your company commits it, and you can be proven to have been complicit in the reporting...even if you didn't commit the fraudulent act itself. So be wary when you bean count. Your a$$ and $$ are on the line when you sign.
Related or Semi-related Video
Finance: What is Hiding Written Complain...2 Views
Finance a la shmoop what is hiding written complaints? all right remember
when you were a kid and your teacher sent home a note to your parents and not [Teacher gives boy a note]
a good one you knew you were in big-time trouble so you know why not just hide
the note what your parents don't see can't hurt you right? while hiding
written complaints on Wall Street is kind of like that if an investment rep
receives a written complaint from a client they are legally obligated to
pass it along to their employer and their boss who has to add it to the reps
[Submarine appears] U4 which is not a military submarine but a form that the rep has to
use when registering with the stay you know for their license hiding written
complaints is illegal and can get the rep in deep you know what and like in
the real world it gets a lot worse than being grounded and you know having your [Person picks up Xbox console]
xbox taken away for a week yeah good luck with that
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