Bankruptcy of management companies: feature detection mechanism fraud bankruptcy

Abstract

Purpose: this study considers the need to develop methodological approaches that determine the actual date of the debtor's insolvency (objective bankruptcy). Discussion: the absence of a single approved methodology for determining the date of the debtor's insolvency causes difficulties for interested parties in establishing it. The article develops and proposes a step-by-step algorithm for determining the date of objective bankruptcy, consisting of three stages, each of which is characterized and defined actions indicating the onset of the actual date of insolvency (objective bankruptcy). Results: the proposed algorithm of actions was developed and tested during a series of forensic accounting examinations on the issue of determining the actual date of the onset of signs of insolvency, and can also be applied to further improve the financial and economic tools for determining the date of objective bankruptcy of the debtor.