ABSTRACT

We analyze the likelihood of financial statement manipulation among 19 listed manufacturing and trading firms on the Ghana Stock Exchange for the period 2008 to 2017. We use the Beneish model to group the firms into those likely to engage in financial statement manipulation and those not likely to be involved in financial statement manipulation. Generally, the results show that majority of the firms are likely to be involved in financial statement manipulation. Also, we find that profitability, liquidity, financial leverage, change of audit firm, and the overall economic condition (Z-score) are firm-level factors that predict the likelihood of financial statement manipulation among listed manufacturing and trading firms in Ghana. Given the high number of manufacturing and trading firms likely to engage in financial statement manipulation, there is the need for the managers of the Ghana Stock Exchange to subject future financial reports of these firms to rigorous scrutiny to safeguard the interest of their stakeholders.

摘要

我们分析了 2008 年至 2017 年期间在加纳证券交易所上市的 19 家制造和贸易公司的财务报表操纵的可能性。我们使用 Beneish 模型将这些公司分为可能从事财务报表操纵的公司和不太可能从事财务报表操纵的公司。参与财务报表操纵。一般来说，结果表明大多数公司可能参与财务报表操纵。此外，我们发现盈利能力、流动性、财务杠杆、审计公司的变化和整体经济状况（Z 分数）是预测加纳上市制造和贸易公司财务报表操纵可能性的公司层面因素。鉴于大量制造和贸易公司可能从事财务报表操纵，