- .Director Disqualification
- .Proceeds of Crime Act (POCA)
- .Confiscation Order Proceedings
- .Restraint Orders
- .Anti-Money Laundering
- .Appeals to the Court of Appeal
- .Boiler Room Fraud
- .Asset Forfeiture & Cash Seizures
- .Commercial Litigation
- .Company Fraud
- .Dawn Raids and Seizure
- .Diversion Fraud
- .False Accounting Fraud
- .Financial Fraud
- .Fraudulent Trading
- .Industry Advice
- .Insider Trading Solicitors
- .Insolvency Claims
- .Investment Fraud – Pyramid Schemes
- .Regulatory Disputes
- .What is Advance Fee Fraud?
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False Accounting Fraud
You or your company may be accused of false accounting fraud if there is a reason for investigators to believe that financial information is being altered or incorrect figures purposefully entered into your accounts with the purpose of disguising their true values or activities. This may be done in order to benefit from a lower taxation rate, or to obtain financing, raise the price of shares, attract more customers or hide any evidence of a loss or act of embezzlement.
How Can DPP Business & Tax Help?
If you have been accused of false accounting fraud, you should immediately make contact with a law firm that specialises in false accounting legal services. The solicitors at DPP Business & Tax have more than 20 years of experience within this field.
We will help you to build a strong case built on the evidence you provide, along with expert liaison with investigators and other specialists.
We’ll also represent you in court, meaning you’ll have all the assistance you require in order to clear your name.
Implications of False Accounting Fraud
If it is found that you have been entering incorrect information or false records, wrongly adjusting figures or destroying information within your accounts, you may be reported to the National Fraud Reporting Centre, who will launch a full investigation. It’s also likely that you will be reported to the police, who will formally charge you if sufficient evidence against you has been collected. If found guilty, on top of your sentence, it is likely that steps will be taken to recover any fraudulently gained funds from your own personal finances. Certain managers and other officers employed within your company may also face penalties for failing to prevent the fraudulent activity in question.
False Accounting Sentencing Guidelines
The sentence for false accounting may range from a fine equating to an amount you have gained through your actions to seven years in prison. This depends on the size of the figures in question and the impact your behaviour has had on others.
False Accounting Typical Scenarios
If you are employed in accounting by an e-commerce company, and you are asked, or consciously decide, to overstate the organisation’s assets or understate their liabilities, hide previous losses or report profits that the company never made, you are committing false accounting fraud.
It can also work the other way, where a company claims to make less of a profit in other to enjoy an amount of their income tax-free.
Information Related to False Accounting Fraud
It is important to immediately contact lawyers specialising in false accounting legal services if you have been accused of:
- Destroying, defacing, concealing or falsifying any account or any record or document made or required for any accounting purpose.
- Producing or making use of any account, record or document that is or may be misleading, false or deceptive
…in order to achieve personal or professional gain or to cause another individual or company to suffer a loss.
Frequently Asked Questions
What is the Theft Act 1968?
This piece of legislature defines various offences relating to the act of theft, with focuses on theft by fraud or deception in addition to robbery, burglary, motor theft and other illegal actions. It gives details of the offence of false accounting fraud and the process of prosecuting it in section 17.
What can my company do to prevent false accounting fraud?
There are many actions you can take to make sure that your company is covered. Ensuring that you check expenses claims and accounts thoroughly and that any financial data is only accessible to specific individuals, undertaking regular anti-fraud risk assessments, adopting a strong whistleblowing policy, performing in-depth audits, supporting a culture of zero-tolerance to fraud and implementing clear response plans are several ways in which you can protect your company against the likelihood of false accounting.
What do I do if I suspect someone of false accounting?
If there is sufficient evidence, you should first report the individual to the National Fraud Reporting Centre and then to the police.
What do I do if I’ve been accused of false accounting?
You should immediately get in touch with a lawyer or solicitor specialising in false accounting legal services. After this, you should collect together all relevant accounts and any other financial information, such as records of expenses claims, in order to prove that you had reason to believe that any adjustment you made to the figures in question was done so without criminal intent, and that any mistakes made were honest ones.
It may also be that the transgressions were committed by another individual, so any evidence to this effect will also be extremely useful for your legal representation.
If you are concerned that you may be investigated after being accused of false accounting fraud, get in touch with DPP Business & Tax today.