(2003). The strategy process: Concepts‚ Contexts‚ Cases (4th ed.) Moberg‚ D.‚ Romar‚ E. WorldCom. Retrieved February 5‚ 2014 from: http://www.scu.edu/ethics/dialogue/candc/cases/worldcom.html Scharff‚ M.M. (2005). Understanding WorldCom’s accounting fraud: did groupthink play a role? February 5‚ 2014 from: http://www.entrepreneur.com/tradejournals/article/132353947.html Romar‚ E.‚ Calkins‚ M. (2006). WorldCom Case Study Update. University of Massachusetts- Boston Mountain of Debt. The Wall Street
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CYBER CRIME Introduction: cybercrime‚ also called computer crime‚ the use of a computer as an instrument to further illegal ends‚ such as committing fraud‚ trafficking in child pornography and intellectual property‚ stealing identities‚ or violating privacy. Cybercrime‚ especially through the Internet‚ has grown in importance as the computer has become central to commerce‚ entertainment‚ and Because of the early and widespread adoption of computers and the Internet in the United States‚ most
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student‚ B.A. LL.B (Hons.) THEME: - IMPORTANCE OF FORENSICM ACCOUNTING IN DETECTING FINANCIAL FRAUDS. Abstract:The aim of the paper is to discuss frauds and omissions as the causes of inaccurate financial statements‚ control mechanisms in regard and institutions which are responsible for investigating frauds as well as the role and importance of forensic accounting and a forensic accountant in detecting frauds in financial statements. This research is about the perception of Accounting Academics on the
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The WorldCom Fraud © 2003‚ 2005 by the AICPA This presentation is intended for use in higher education for instructional purposes only‚ and is not for application in practice. Permission is granted to classroom instructors to photocopy this document for classroom teaching purposes only. All other rights are reserved. Copyright © 2003‚ 2005 by the American Institute of Certified Public Accountants‚ Inc.‚ New York‚ New York. WorldCom’s Background • Awoke the sleeping giant by leading the telecom
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This is one of the red flags for fraud. As an auditor it is my job to ensure to the best of my ability that the financial statements are not materially misstated due to fraud. In order to prove a fraud has occurred‚ the auditor has to do more than just show that money was lost‚ taken‚ or financial data misstated. They have to prove that there was intent. This involves more than just a investigation into the books and the numbers. This process is referred to as fraud examination. Many people in this
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Insolvency Fraud A. Introduction Bankruptcy is a leading cause of concern for the government of the United States. According to The Washington Post‚ in 1991‚ bankruptcy cases are increasing by eighteen percent (Walsh). The legal definition of Bankruptcy is the permissible procedure for dealing with debt complications of individuals and businesses (United States Code: Title 11‚TITLE 11—BANKRUPTCY Legal Information Institute). Specifically‚ a case filed under any of the chapters of Title 11 of
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22 Jan. 2011. 19. National White Collar Crime Center. "IC3 2008 Internet Fraud Report." Retrieved 01 29‚ 2011‚ from Scribd: http://www.ic3.gov/media/annualreport/2008_IC3Report.pdf 20 21. National White Collar Crime Center. "IC3 2006 Internet Fraud Report." Retrieved 01 29‚ 2011‚ from Scribd: http://www.ic3.gov/media/annualreport/2006_IC3Report.pdf 22 23. National White Collar Crime Center. "IC3 2004 Internet Fraud Report." Retrieved 01 29‚ 2011‚ from Scribd: http://www.ic3.gov/media/annualreport/2004_IC3Report
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According to the study based on Livent‚ Inc.- An Instructional Case‚ The former senior management of Livent engaged in a multi-faceted and fraud accounting since eight years. As a further result of the scheme‚ Drabinsky and Gottlieb’s elaborated their Fraudulent Kickbacks‚ Fraudulent Manipulation of Livent’s Books and Records to accomplish in quarterly periods and meet the earnings which they provided to Wall Street analysts. Further more three Accounting Manipulations were found by transferring
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Assignment # 3 WorldCom Accounting Fraud By Mark A. Cowan Strayer University ACC 499- Accounting Capstone May 15‚ 2011 The purpose of this paper is to discuss the aspects of the WorldCom accounting scandal and the effects that this scandal had on the accounting world as we know it. We will discuss the corporate culture at WorldCom and how it contributed to the accounting fraud‚ how the CEO’s desire to be the #1 stock on Wall Street contributed to the fraud‚ pressures on accountants to book
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CHAPTER - 1 INSURANCE 1.1 Introduction In law and economics‚ insurance is a form of risk management primarily used to hedge against the risk of a contingent‚ uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss‚ from one entity to another‚ in exchange for payment. An insurer is a company selling the insurance; an insured‚ or policyholder‚ is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged
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