This article is how Apple has been under investigation for possible tax fraud. It is allegedly been hiding over $1.34 million dollars US from the Italian taxman. There has been various businesses who try to pass by without paying taxes for their financial benefits. In the article is presented fashion designers Domenico Dolce and Stefano Gabbana who got suspended  prison sentences and ridiculously large fines for tax frauds. Not only do company’s fraud tax payments but there are also financial statement frauds.

In class we learnt what financial statement frauds are and how companies deliberately misrepresent their data to create an impression of the companies’ success and growth. Both public and private businesses commit fraud to mislead their investors or to maintain bank funds and meet the expectations of shareholders.

It is hard for such large and media- centered companies such as Apple to commit financial fraud because there is so much attention on their success and financial growth. Even though there will always be businesses trying to misrepresent their financial data, I hope that Apple, in this case, learns to be truthful to the public and present their company in the right way.

http://www.bnn.ca/News/2013/11/13/Apple-under-investigation-in-Italy-for-alleged-tax-fraud-Report.aspx