IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-031-59854-8_6.html
   My bibliography  Save this book chapter

Sales Revenue and Commissions

In: The Audit Failures of the Wirecard Scandal

Author

Listed:
  • Edgar Löw

    (Frankfurt School of Finance & Management)

  • Reinhard Heyd

Abstract

Every audit firm has to pay particular attention to the audit of sales. The relevant auditing standard already explicitly mentions that revenues are particularly subject to the risk of fraud. In this respect, we show in detail under which conditions Wirecard should have recognized gross revenues and that commissions were predominantly to be shown in the income statement in the acquirer business. We conclude this analysis with the necessary audit procedures to clarify which paragraphs of the relevant auditing standards were violated. Without disregarding the legal requirements of the relevant auditing standards, it would have been revealed that numerous transactions did not exist at all—the fraud would have been discovered.

Suggested Citation

  • Edgar Löw & Reinhard Heyd, 2024. "Sales Revenue and Commissions," Springer Books, in: The Audit Failures of the Wirecard Scandal, chapter 0, pages 85-98, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-59854-8_6
    DOI: 10.1007/978-3-031-59854-8_6
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-031-59854-8_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.