Fraud Risk Memorandum This memo is to determine potential fraud risks that may exist within our client‚ Apollo shoes. There are reasons to believe that potential fraud risks do exist‚ however these risks are only hypothetical‚ but will be tested to assure users that Apollo’s financial statements are fairly stated. First‚ the client’s prohibition of contacting the predecessor auditor is considered a red-flag. The importance of the predecessor’s working papers and comparative work would make completing
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Hayes Honor‚ eh? Quite ironic considering that he "triumphed" in the presidential election by making a sleazy political deal and abandoning black Southerners to decades of oppression and discrimination‚ causing him to be known to history as "Ruther-Fraud B. Hayes." Pros-He signed a law which made it easier for Chinese Immigrants to come into the country (this was repealed with the Exclusion Act). He tied the value of the dollar to gold instead of silver. He supported Reconstruction (After the Civil
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Assignment 10: National and Global Finance (16.0 points) 1. Choose an example of a type of new company you could start‚ and then use this company idea to answer the questions below. You might choose a pet store‚ a restaurant‚ a tutoring business‚ or something else. This can be the same type of company you chose in assignment 8 or 9‚ or it can be different. a. Describe the type of business you chose. (1-2 sentences. 0.5 points) The type of business I would start would be for family or friends
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Car insurance fraud is of late becoming a very big problem not just in US but also in countries like Britain and those in the European Union. The sad thing is that most of these insurance fraudsters are becoming more and more cunning and creative with each passing day which makes it very difficult to nail them. It is now not surprising for insurance buyers to stage car accidents and then make claims for either personal injury or car compensation. Someone may also be cunning enough to craft out a
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Employee Fraud and Purchasing Department There is a phenomenon in middle/small size companies in China that purchasing agents of the companies collaborate with vendors to create fake receipts‚ in order to receive more reimbursement from the company. This also happened in the hospital I used to work for‚ where the purchasing agent had to buy food from different vendors for everyday dinning purpose. The fraud got exposed when one day a vendor called us and revealed the fact that
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The article that I was read is called‚ The wild schemes people will use to commit tax fraud‚ written by Matt Pearce. The article talks about schemes that people use to get out of paying their taxes and crimes commit with tax fraud. The main purpose of this article is to show that tax fraud is a massive problem in the United States and there are consequence to face for committing the crimes.The article starts off by introducing Michael D. Brandner‚ an Alaskan plastic surgeon with a wife‚ who filed
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Case 10-2 Eagle Impairment Case Question #1 Under IFRS’ International Account Standard No.36^15 an asset must be assessed for indicators of impairment at the end of each reporting period. The information provided for the commercial building in Italy does not say whether there are is an event or change in circumstances that indicate that book value of the asset may not be recoverable. Since there is no indicator mentioned‚ one possibility would be that no investigation of impairment take place and
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1. Consider how a hacker might trick people into giving him or her user IDs and passwords to their Amazon.com accounts. What are some of the ways that a hacker might accomplish this? What crimes can be performed with such information? How? * Social engineering (For example‚ instead of trying to find a software vulnerability‚ a social engineer might call an employee and pose as an IT support person‚ trying to trick the employee into divulging his password. The goal is always to gain the trust
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Lifebuoy Journey- From inception till today In the year of 1935‚ when it was first brought in India‚ there hasn’t been any going back till date. And looking at its success in Indian markets‚ no one can ever think that it’s going to leave Indian markets‚ ever. Yes‚ the brand ‘Lifebuoy’ has set its root s deep inside the minds and hearts of Indian customer and is going stronger every day. It took the herculean task of changing the Indian mentality and the entire culture associated with it: the culture
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brokerage firm. It focuses on the strategy deployed by the company’s executives in perpetrating fraudulent acts in misrepresenting the company’s financial accounts; the revelation therein have been described by many as one of the largest bankruptcy cases in the history of the United State’s financial services industry. A critical analysis of the principal methods used in falsifying the company’s financial statements is crucial in providing a clear picture of the role played by financial information
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