MODEL FOR DETECTING ERRORS AND FRAUDULENT INFORMATION IN FINANCIAL STATEMENTS – RESEARCH IN VIETNAM ENTERPRISES

Abstract

Based on the results of previous studies and the M-score model of Beneish (1999), this article has applied a model for detecting errors and fraudulent information in financial statements of Vietnamese enterprises. By quantitative method with logit regression technique in the financial data set of 296 listed companies in 2020-2021, the research results showed that the factors used to detect fraudulent errors in financial statement in accordance with the original M-score model of Beneish (1999). Moreover,the ability of causing fraudulent information on the financial statements of the companies in many business sectors was evaluated differently. Since then, the article has applied the forecast model of detecting fraud on the financial statements for Vietnamese enterprises and made some recommendations to those who frequently use financial statement information.