Khanani and Kalia was one of the largest currency exchange companies in the country‚ founded in 1983 by Hanif Kalia. Khanani and Kalia claims to be Pakistan’s first ISO 9001 and 27001 certified Exchange company. The directors of the company were accused of violating the Foreign Exchange Regulations Act‚ the Prevention of Electronic Crimes Ordinance and the Pakistan Penal Code by operating a money transfer system based on personal contacts‚ known as Hawala. Munaf Kalia and Javed Khanani‚ directors
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1. Retrieve the SEC’s complaint against ClearOne Communications (link provided on Blackboard with the case). Describe management’s alleged scheme for inflating revenue. Management’s alleged scheme for inflating revenue is that in 2001‚ when the company was not able to meet their sales and revenue goals‚ they would record sales on the books as soon as products left the warehouse. So if ClearOne shipped a lot of products during the last week of the quarter (or swept the floor as they call it)‚ they
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1.Introduction This case study involves the overview and financial analysis of two major telecommunications companies in the world. The two companies are compared based on their financial performance for the last two years by analyzing their income and balance sheet statements. Financial ratios are also calculated to see which company has better profitability‚ liquidity and solvency. 1.1.Aims and Objectives 1. Carry out research on two major companies in the telecommunications market
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Organizational Responsibility Organizational structure and culture influence have a huge effect on the success or downfall of an organization. Many organizations have proper processes in place to prevent health care fraud and abuse. This paper reviews fraud and abuse and how organizational structure and governance‚ culture‚ and focus on social responsibility affect or influenced the described situation. This paper will also review resources and allocation to prevent this type situation in the future
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| | |Financial Statement Fraud | |Navistar International Corporation | |
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2-40 Strategic positioning The emphasis in the case info on the product quality and craftsmanship‚ is the best described as differentiation on the quality of the product. In contrast‚ the company is more likely to succeed if it can continue to appeal to those customers looking for up-scale‚ higher quality table lamps and lighting fixtures. When using differentiation as the Company’s strategy‚ it becomes clear that maintaining the Classic line is critical to the company’s success. Thus‚ elimination
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Fannie Mae’s Fraud 1. Fannie Mae was established in 1938 as a federal charter under President Franklin Roosevelt as a secondary market to expand the flow of mortgage money under any economic condition because millions of Americans could not become homeowners before Fannie Mae. In 1968 Fannie Mae was rechartered by congress as a shareholder owned company‚ funded solely with private capital raised from investors. The charter is directed to increase the availability and affordability for homeownership
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FAR 600 TUTORIAL 4 BACC 8G GROUP MEMBERS: NUR AIN BT ABU BAKAR NUR LIYANA BT MOHD ZAINI AKMA NUR AMANINA BT ZAKARIA MADIHAH BT ABU THARIM DATE OF SUBMISSION: 5 APRIL 2013 PREPARED FOR: MADAM AFIDAH BT SAPARI QUESTION 5 How principal in the agency relationship protects again the opportunistic behavior of the agent and the agent’s response to this. There are two costs that will be implemented by the principal towards the opportunistic agent behavior. First is monitoring cost which
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Association of Certified Fraud Examiners; conducts comprehensive fraud studies; Report to the Nation on Occupational Fraud & Abuse * Fraud - deception that includes: a representation‚ about a material point‚ which is false‚ and intentionally or recklessly so‚ which is believed‚ and acted upon by the victim to the victim’s damage. Fraud is an act of dishonesty with the intention to deceive or cover the truth to gain an advantage. Most critical element: confidence. Fraud can be classified as (in
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Forensic Accounting in New Zealand: Exploring the gap between education and practice. Jennette Boys Auckland University of Technology‚ New Zealand Abstract ‘Accounting practice has always been concerned with fraud’ (Lehman & Okcabol‚ 2005) The global business environment is rapidly changing and this has resulted in evolutionary changes in the skills accountants need to meet the requirements of their clients so they can continue to add value to their businesses
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