What kind of fraud and misinterpretation possible with regards to Property Plant Equipment?

1. Recording of assets at wrong values

2. Misclassification of assets

3. Non recording of assets

4. Recording of fictious assets

5. wrong estimates of the useful life assets

6. Method of depreciation may not represent the true picture of the depletion of asset

7. Non recording of impairment loss

8. Wrong revaluation of asssets

9. Etc

1. Capitalization of Spare Parts (Regular Maintenance)
2. Addition of Recoverable Charges at Customs Clearance Stage (Storage Deposit e.g) to Assets.
3. By Selecting Compromised Revaluation Agent.
4. By Not Disposing Assets from FAR immediately after Resolving Case with Insurer (Vehicle theft and Total Loss Claims). Just to show extra Gain by letting the asset depreciated.