Page 34 - Azerbaijan State University of Economics

Nina Poyda-Nosyk, Serhii Lehenchuk, Victoriia Makarovych, Iryna Polishchuk, Tetiana Zavalii: Analytical
Procedures in Audit As A Tool For Predicting The Risks Of Financial Statement Fraud In Marketing Companies

Appendix C
M-Score coincidences and discrepancies according to the Beneish and Roxas models
for 50 domestic marketing companies for 2023-2024
Four variants of M-Score comparison results according to the
Beneish and Roxas models
M-score (B) M-score (B) M-score M-score (B)
No Companies < -2.22 and > -2, 22 і M- (B) > -2, 22 < -2, 22 і M-
M-score (R) score (R) > - і M-score score (R) > -
< -2.76 2, 76 (R) < -2, 76 2, 76
1 LLC "EMARKET UKRAINE" No No Yes No
2 LLC "GOOGLE" No No Yes No
3 LLC "TIBIW'WAY UKRAINE" No Yes No No
4 LLC "ADVERTISING AGENCY "AITI" No Yes No No
5 LLC "MEDIACOM UKRAINE" Yes No No No
6 LLC "HAVAS ENGAGE UKRAINE" No Yes No No
7 PP "CENTER OF MEDICAL AND No Yes No No
PHARMACEUTICAL INFORMATION
"MEDICAL DATA MANAGEMENT"
8 LLC "STAR UP PLUS" No Yes No No
9 LLC "ROBOTA INTERNATIONAL" No Yes No No
10 LLC "PROMOLIGHT" No Yes No No
11 LLC "MEGA - POLIS - PLUS" No No No Yes
12 LLC "ELITE-TM" No Yes No No
13 LLC "TECHNOSTAR GROUP" No Yes No No
14 LLC "BORDPROM" No No Yes No
15 LLC "ADVERTISING AGENCY HK" No Yes No No
16 LLC "OLTECH COMPANY" No Yes No No
17 "MEDIUM-TV" LLC No Yes No No
18 "RA "MEGAPOLIS" LLC No Yes No No
19 "EDMIX DNIPRO" LLC Yes No No No
20 "DEMETRA CONSULTING BUREAU" No Yes No No
LLC
21 "NATIV CREATIVE" LLC No No Yes No
22 "AVANTAIME" LLC No Yes No No
23 "AQUARIUM" ADVERTISING AGENCY" No Yes No No
LLC
24 "EMK" LLC Yes No No No
25 "OMG AGENCY" LLC No Yes No No
26 "PHARM-VECTOR MARIA" LLC No No No Yes
27 "DALI" MARKETING CENTER" LLC No No Yes No
28 "PARTNER MEDIA" LLC No Yes No No
29 "KVV-D" LLC No Yes No No
30 "G. O. MEDIA" No No Yes No
31 PP "VILNE ZHYTTYA" No No Yes No
32 LLC "INTERNET-REKLAMA RIA" No No No Yes
33 LLC "LOON UA" No No Yes No
34 LLC "ALL-SKY" No Yes No No
35 LLC "FLEETFAY UA" No Yes No No

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