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Relevant Publications


'Building Societies - the Myth of Mutuality', Pluto Press, 1984.

'Case Studies in Finance', Philip Allen, 1989, with Teaching Notes, 1990

'Case Studies in Financial Analysis', Philip Allen, 1989 with Teaching Notes, 1990

'The Fraud Report - 1998' Association of Certified Fraud Examiners, ('ACFE') 1999. (With D. Sharp).

'UK Fraud Manual' (Financial Transactions section) Association of Certified Fraud Examiners, 1st edition 2000, 2nd 2003, 3rd 2004, 4th, 2006, 5th, 2007, 6th, 2008, 7th 2009, 8th, 2010.

'Cybercrime, 2001: Making the Information Superhighway safe for business', CBI and Fraud Advisory Panel, 2001

'Cyber Crime and Fraud as they affect Business: Problems and Solutions', FAP, 2003.

'Stock market efficiency, insider dealing and market abuse', Gower Publishing, 2009.


'The Regulation of Conflicts of Interest in UK Building Societies', in 'Anti-Corruption for Social Stability and Development, IACC, Hong Qi, 1996 (with M. Ward)..

'Stockholder Value', in 'Blackwell's Encyclopaedia of Management', (ed.) C. Cooper and Chris Argeris, 1996 and 'The Blackwell Dictionary of Finance', (ed.) D.Paxson and D.Wood (1996).

'Financial Statement Analysis', in 'International Encyclopaedia of Business and Management', (ed.) M. Warner, Routledge, 1996.and 2nd edit 2001.

'Fraud Risk Management', in 'International Encyclopaedia of Business and Management', (ed.) M. Warner, Routledge, 2001

'A Victorian Financial Crisis: The scandalous implications of the case of Overend Gurney' in J. Rowbotham and K. Stevenson (ed.) Criminal Conversations: Victorian Crimes, Social Panic and Moral Outrage, Ohio State University Press, 2005.

“Stock and Securities Fraud” in Encyclopaedia of White-Collar and Corporate Crime, Second Edition; Lawrence M. Salinger & J. Geoffrey Golson (eds), Sage Publications, 2013: pp.873-88.

“The Accounting and Auditing Profession and Corporate Crime” in Financial Crime Risks, Globalisation and the Professions, David Chaikin (ed), 2014. Australian Scholarly Publishing, Melbourne, Australia.

'Dividend growth model' in Wiley Encyclopaedia of Management, 3rd edition, volume 4, ed. Ian Garrett, series ed. G. Cooper, 2014.


Peer Refereed Academic Journals

(JBFA = Journal of Business Finance & Accounting)

'The Auditor's Going Concern Decision: Some UK Evidence Concerning Independence and Competence' (with Hooi Den Huan), JBFA, January, 1993.

'The Regulation of Insider Dealing in the UK. Some empirical evidence concerning share prices, merger bids and bidders' advising merchant banks', Applied Financial Economics, June 1996. (This paper was awarded a citation of excellence, 'Highest quality rating' by Anbar).

'The Changing Nature of Corporate Control, Ownership and Financial Structure', (with I. Davidson and M. Wright), JBFA, September 1996.

'Why do bidders do badly out of mergers? Some empirical evidence from the UK', JBFA, June/July 1998.

'Can takeover targets be identified by statistical techniques? Some UK evidence', The Statistician, 47(4) 1998.

'Predicting UK Takeover targets: some methodological issues and an empirical study'. Review of Quantitative Finance and Accounting, May 1999.

'The consequences of deregulation: a comparison of the experiences of UK building societies with those of US savings and loan associations' [with M. Ward]. Crime, Law and Social Change, 1999.

'The identification of U.K. takeover targets using published historical accounting data: Some empirical evidence comparing logit with linear discriminant analysis and raw financial ratios with industry-relative ratios', International Review of Financial Analysis, 9, 2000, 147-162.

'An analysis of, and comment on, corporate governance policy differences between UK institutional investors', Research in International Business and Finance, 2001. [With M. Ward].

'The Loss of Popularity of Limited Liability Companies in Great Britain in 1866 and the Role of Financial Information: A Case Study', Financial History Review, 2002. [With R. Firman].

'Towards an economic theory of management fraud and corporate failure', Journal of Forensic Accounting, Jan-June, 2004.

'The auditor's going concern decision and types I and II errors: The Coase theorem, transaction costs, bargaining power and attempts to mislead' Journal of Accounting and Public Policy, November/December 2004.

'Minsky's financial instability hypothesis: Information asymmetry and accounting information: events surrounding the UK financial crises of 1866 and 1987', Accounting History, 2007.

'Organisational susceptibility to fraud and theft: organisational size and the effectiveness of management controls: Some UK evidence' Managerial and Decision Economics, 2007 [With J. Webb].

'Stock Market Efficiency, Insider Dealing and Market Abuse: The UK Experience', International Journal of Business Governance and Ethics, 2010.

'Auditor independence when management attempt to mislead: a rational economic analysis'. Journal of Forensic and Investigative Accounting. 2011. [Awarded the 'Best Paper Award' at the annual meeting The North American Accounting Society in Boston, March, 2007].

'Minsky's financial instability hypothesis, accounting information and the 2007-9 financial crisis in the UK and US', Accounting History, 2011, 16(4): 423-437.

'Insider dealing and market abuse: The UK's record on enforcement', International Journal of Law, Crime and Justice, 2011.

'Auditor independence and client bargaining power: Some Spanish evidence concerning the going concern decision', International Journal of Auditing, 2013, 17(3): 265- 287 [With Marcos Anton-Renart].

'The effects on financial statements of the litigation cost rule in a civil action for negligence against the auditor', Journal of Contemporary Accounting and Economics, 2013, 9: 170-182

'Curbing conflicts of interest in UK building societies: Rogue building societies in the late 1950s and the Building Societies Acts of 1960, 1962 and 1986'. Accounting History, 2014, 19(4): 452-474.

'Stock market scams, shell companies, penny shares, boiler rooms and cold calling: the UK experience' International Journal of Law, Crime and Justice, 2017.

'A cross-country study on manipulations in financial statements of listed companies: Evidence from Asia'. Journal of Financial Crime, 2017 [with M.S. Hasan, N. Omar, and M. Handley-Schachler].

'Using corporate accruals to evaluate management quality: Evidence from Asian countries', AESTIMATIO, The IEB International Journal of Finance, 2017 (with Hasan, M.S., Omar, N. and Hassan, ABM).

'Academic independence, freedom and 'enlightenment': the case of accounting research', Accounting History, 24(4) 2019.

'Cryptocurrency and its susceptibility to speculative bubbles, manipulation, scams and fraud', Journal of Advanced Studies in Finance, 9(1), 2019

‘Economic and social effects of money laundering: the UK case’, Journal of Humanities and Social Sciences, 4(1): 149-162, 2020.

‘The use of contracts for difference (‘CFD’) spread bets and binary options (‘forbin’) to trade foreign exchange (‘forex’) commodities, and stocks and shares in volatile financial markets’, Journal of Forensic, Legal & Investigative Sciences, 2021.

Munich Personal RePEc Archive

'Recent developments in investment fraud and scams: Contracts for Difference ('CFD') spread betting and binary options and foreign exchange ('Forex') sometimes collectively known as 'forbin' – the UK experience', MPRA Paper 85061 (2018).

Recent Reports

'London house prices and the growth of offshore companies: 2006-15'. A short report for Transparency International on behalf of ProBono Economics (2017).

'Implications of the further liberalisation of capital movements on the Serbian system for the prevention of money laundering and terrorism financing', for the EU Policy and Legal Advice Centre II (2017).

Professional Magazines (ACY = Accountancy)

'The Thrift Crisis', ACY, September 1990 (with M Ward)
'Insider Trading - The never ending story', ACY, November 1990
'Lessons to be learned from licensing lapses', ACY, January 1991
'The Lessons of Thrift: Learning the hard way', ACY, April 1991
'Building societies: no longer safe as houses?' ACY, June 1992
'[Building society] Mutual interests', Mortgage Finance Gazette, April 1996 (With M. Ward)
'No place for complacency' (Re Fraud), Accountancy International, Feb 1998. (With D. Sharp).
'Foul play', ACY, May 1998. (Re Financial irregularities in British football)
'The ACFE Fraud Survey, Internal Auditing, Nov 1998 (with D. Sharp and S. Allen)
'Do managers have more opportunity to commit fraud?' International Security Review, Jan/Feb 1999. (With D. Sharp).
'Financial statement fraud', Fraud Intelligence. Dec/Jan 2003 [With J. Lambell].
'Managerial decision making, hubris, conflicts of interest et al', Fraud Intelligence, March 2003.
'Stock Market Efficiency, Insider Dealing and Market Abuse: The UK Experience, Compliance Online', Part 1 May, 2009; Part 2 June 2009.
'A profitable trade - the record on insider dealing and market abuse', Fraud Intelligence, June/July 2009.
'Forex, contracts for difference & spread bet losses: bad luck or victim of a scam? Fraud Intelligence, 2021.

Book Reviews in Academic Journals

'Creative Accounting, Fraud and International Accounting Scandals', Accounting and Business Research, 2012.
'A Global History of the financial crash of 2007-2010' Accounting History, 2013.
'Law enforcement and the history of financial market manipulation' Accounting History, 2014.
'Hall of Mirrors: The Great Depression, the Great Recession, and the uses and misuses of history', Accounting History, 2016.
'Academic freedom in an age of conformity', Accounting History, 2017.
'The Dialectics of Liquidity Crisis: An Interpretation of Explanations of the Financial Crisis of 2007-08', Accounting History, 2018.
'How Global Currencies Work: Past, Present, and Future', Accounting History, 2019.

Newspaper Articles

'Hard and loanly', Scotland on Sunday, 27 November, 1994 (re building society scandals).

'Forest shares - worth buying?' Nottingham Evening Post, 9 September 1997 re the floatation of Nottingham Forest F.C. on the stock exchange). [With M.Ward].

Recent TV and Radio appearances

'Inside Out', 'East Midlands Today', both BBC1 and Radio Nottingham, 11 March, 2009, re boiler room share marketing fraud.

'BBC News 24', 22 February, 2008, re NatWest Three (Enron-related fraud).

'Auditing in Australia', ABC Radio National Background Briefing, 14 August 2011.

'What the figures really say about the financial state of the Royal Zoological Society of SA. ABC 891 Adelaide (Radio) 7 October 2011, follow up, 13 February, 2012.

'The role of the forensic accountant', Voice of Islam (Radio station) 12 November 2020.