The Committee of Sponsoring Organizations for the Treadway Commission studied financial statement fraud cases and developed a taxonomy of financial statement fraud schemes applicable to publicly-traded companies that included Improper Revenue Recognition and Misappropriation of Assets.

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This statement is true. The Committee of Sponsoring Organizations for the Treadway Commission did develop a taxonomy of financial statement fraud schemes applicable to publicly-traded companies that included Improper Revenue Recognition and Misappropriation of Assets.

The Committee of Sponsoring Organizations for the Treadway Commission Studied