Archived Webinar

Common Factors in Financial Misreporting

Overview
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Overview

Event Held On: 1/31/2012

Full Event Description

Mergers and acquisitions present some of the greatest decision-making challenges corporate leaders face - and thus, are among the most scrutinized. Historically, CEOs responsible for deals that don't get a favorable market response are more likely to see their careers shortened. A recent University of Arizona study examining these transactions reveal that corporate leaders tied to negative M&A announcements are more likely to misstate financials in the post-investment period in an effort to protect their jobs. This webinar discusses factors that may lead to mis-reporting, and what can be done to create a culture that actively promotes fiscal accuracy around M&As and other highly-visible business events.

In this webinar, you will:

Learn to identify indicators of stock market pressure that might lead to aggressive accounting behavior
Understand the effects of the capital market on executive turnover
Gain a better understanding of how to watch for these signs and/or create an atmosphere where they are not acceptable

At the conclusion of the webinar you will gain both an internal and external understanding the economic forces that may encourage aggressive "earnings management" by managers in corporate financial reports.

From an internal standpoint, executives will gain an understanding of the capital market environment where short term pressure might lead to decisions that may cost them dearly in the long run.
From an external standpoint, investors and financial intermediaries will learn to identify situations where more thorough examinations of earnings reports may be warranted.

Speaker Biographies

Stephen Molen

Director of Solutions, EthicsPoint

Stephen Molen has a strong focus on providing customized technology and on-demand software solutions to the Fortune 500 and Global 2,000 marketplace with an accomplished history of creatively solving client needs, while maintaining a strong customer focus. Stephen has been consulting and partnering with companies to help improve business processes with enterprise software solutions for over 10 years, and in his past experience has developed custom software applications for companies including General Motors, TMP Worldwide, and OSI Restaurant Group.

Stephen is a frequent speaker on ethics & compliance solutions and has worked with the SCCE, OCEG, EthicsPoint, and at national conferences. In his off time, Stephen looks to celebrate life with friends and family. As an avid cook, he loves to experiment with new ingredients and local flavors, specializing in Caribbean fare to carry on the traditional foods of his family’s heritage.

Daniel Bens

Associate Dean, MBA Programs & Associate Professor, Accounting, University of Arizona

Dr. Bens oversees all of the MBA programs at the University of Arizona’s Eller College of Management. He also holds a tenured faculty appointment in the Accounting Department. He earned a B.S. in Accounting from Penn State, an MBA with a Finance concentration from Indiana University, and a Ph.D. in Accounting from the Wharton School of the University of Pennsylvania. Prior to joining Eller, Bens was on faculty at the University of Chicago Booth School of Business from 1999-2005.

His research focuses on the determinants and effects of discretionary disclosure in financial reports. That is, why do some firms just disclose the minimum of information as required by securities laws while others voluntarily exceed that benchmark considerably? Further, are there tangible financial effects from these decisions? He also examines real economic effects that firms may experience when they make seemingly cosmetic accounting choices. For example, he has studied how firms alter their share repurchase strategies to improve earnings per share (EPS) performance, while at the same time cutting long term investments to finance the strategy.

Bens’ teaching has been recognized by the Eller MBA students with an MBA Distinguished Faculty Award. His research has been cited or he has been quoted in Fortune, Business Week, and various national newspapers via the Associated Press and Reuters news services.

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