How can investors recognize fraud and other accounting irregularities in companies before they invest? Stephen Clapham, a forensic accounting expert and founder of Behind the Balance Sheet, joins Real Vision to break down the telltale signs. Drawing on his decades of experience working in research roles in the hedge fund industry and investment banking, Clapham explores what he believes is a pervasive trend of companies manipulating their earnings and balance sheets. As he walks through the mechanics of his thesis, Clapham pulls back the curtain on the three key areas he believes investors should always examining before investing. Filmed on January 22, 2020, in London.