Final answer:
The most likely individuals to commit financial statement fraud are the CEO and/or CFO, as indicated by the COSO study Fraudulent Financial Reporting: 1998-2007.
Step-by-step explanation:
According to the COSO study, Fraudulent Financial Reporting: 1998-2007, the individuals most likely to commit financial statement fraud are the chief executive officer (CEO) and/or chief financial officer (CFO).
Top executives have both the incentive and the means to manipulate financial statements to present a more favorable view of the company's financial health than is accurate.
Corporate governance institutions, like the board of directors, auditing firms, and large shareholders, are designed to prevent such fraud, but as was seen in cases like Lehman Brothers, these can sometimes fail to provide accurate financial information, leading to significant consequences for investors and the wider economy.
According to COSO's study, Fraudulent Financial Reporting: 1998-2007, the most likely to commit financial statement fraud are The chief executive officer and/or chief financial officer. Top-level executives often have the authority and access to manipulate financial information and override controls. They may engage in fraudulent activities to meet financial targets or conceal poor performance.