Groupthink and Fraudulent Financial Reporting
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Purpose and Methodology: The purpose of this study was to gain an understanding of groupthink and whether or not it impacts fraudulent financial reporting. This study utilizes surveys of practitioners and academics and an analysis of Accounting and Auditing Enforcement Releases (AAERs) to determine whether or not groupthink is a prevalent factor in fraudulent financial reporting. Findings: The findings indicate that groupthink is very prevalent in business and a contributing factor in some situations to fraudulent financial reporting.