Picked this book up thinking it would have some tips on what to look for in public companies' financial statements that would be a clue that they are cooking the books. As it turns out, the book has nothing of the sort. It's mostly information I already knew. A lot of exhortations about how the accounting standards are flexible and therefore there's no real way to determine if financial statements are misleading. He recommends mutual funds and ETFs. Course, I think this was written before we found out mutual fund managers are crooked too. He has one chapter that gives good questions to ask and answer regarding corporate governance. Answers to those questions could indicate that the company's directors and management are too cozy. But nothing on how to see fat signs of fraud.
1. Corporations—Accounting—Corrupt practices—United States. 2. Corporations—Accounting—Corrupt practices—United States—Prevention. 3. Accounting fraud. I. Title.