textbook explains fraud invalidates a contract. “The presence of fraud affects the authenticity of the innocent party’s consent to a contract. When an innocent party is fraudulently induced to enter into a contract‚ the contract usually can be avoided because she or he has not voluntarily consented to the terms. Normally‚ the innocent party can either cancel the contract and be restored to her or his original position or enforce the contract and seek damages for harms resulting from the fraud (Miller
Premium Damages Judicial remedies Contract law
9-104-071 REV: SEPTEMBER 14‚ 2007 ROBERT S. KAPLAN DAVID KIRON Accounting Fraud at WorldCom WorldCom could not have failed as a result of the actions of a limited number of individuals. Rather‚ there was a broad breakdown of the system of internal controls‚ corporate governance and individual responsibility‚ all of which worked together to create a culture in which few persons took responsibility until it was too late. — Richard Thornburgh‚ former U.S. attorney general1 On July 21‚ 2002
Premium Financial audit Operating expense Audit
Versus Actions: Which are louder? People tend to not think about the effects of their actions; actions can have much deeper effects than words. People can twist words around‚ but they cannot change other’s actions. Actions are what defines each person‚ and produces uniqueness. Actions‚ as with words‚ cannot be taken back: however‚ is much easier to apologize to anyone for lying than for an action. Words do not break trust as much as actions. Actions speak louder than words‚ since actions reveal
Premium English-language films Debut albums Psychology
The Fraud of Digi Corporation For Fraud Examination The Fraud of Digi Corporation Suramanian Krishnan‚ better known as Kris Krishnan was once the CFO of Digi Corporation based in Plymouth‚ Minnesota. He was a graduate of Bangalore University who further studied at Minnesota State University and finished up at the Wharton School of Finance. His career began back in 1979 at Hansen Company as a CPA‚ and he soon moved though several positions as an International tax manager at Eco Lab and
Premium
Hater T University Experience University at.... Fair This fall I attended the University sponsored fair. At first I was apprehensive about going but once I learned that about one hundred dollars from everyone’s tuition goes to these events I decided to make the most of my money. The fair was far from what I expected there were games‚ coasters‚ food and shows‚ all this for free. I played in the carnival games and won a purple stuffed animal for my girlfriend at the time. Then my group
Premium Carnival Amusement park I Decided
Assessment The most interesting part in Gupta’s article is in her conclusion. The author notes that fraud in the health sector is a reality and should be exposed. Gupta further states that clinical operations are vulnerable to fraud because the system lacks effective mechanisms to detect‚ investigate‚ and prosecute individuals or groups of people who engage in fraud. Finally‚ the author calls on everyone in the health sector to develop a culture of research‚ which should be based on fundamentals
Premium Health care Medicine Patient
I agree that actions do speak louder than words. In this essay I will be telling you why actions speak louder than words. For example‚ in paragraph one i’ll be talking about the act of emotions. Paragraph two i’ll be talking about the visual part‚ and paragraph three i’ll be talking about how it’s easier to understand. In the summary i’ll wrap everything up in the conclusion. First and foremost‚ the act of emotions can usually can tell what they are feeling. When some people are mad
Premium Psychology Emotion Cognition
Janil Gada MBA MC1 - 0016 10 Genres of Events 1. Entertainment & Leisure Events: * Parikrama * Vedas * Nirvana * Swedish House Mafia * Nichelback Rockstar * David Guetta * Norah Jones concert * Sun Burn * Tomorrow Land * Burning Man * Boom Festival * Nakshatranche dene * Sur aur taal * Sa re ga ma pa * Indian Idol 2. Government & Civic Events: * MNS campaign * Election campaigns * Barack
Premium India Mumbai Gujarat
Introduction By June 2002‚ it had become evident to the SEC that WorldCom had engaged in a significant corporate accounting fraud scheme which had overstated pretax income by about $7 billion since 1999. At the time‚ this was the largest deliberate misstatement in US corporate history. Although there are many interesting elements and players involved with this incident‚ for the purpose of this case study I will focus on the role played by Betty Vinson‚ the Director of Management Reporting and
Premium Fraud Expense Accounting scandals
increasing&from&$304&billion&in&fiscal&year&2000&to&almost&$700&billion&in&fiscal&year& 2008.&& Why&Do&People&Commit&Fraud?&In&the&1950’s‚&famed&criminologist&Donald&R.&Cressey& develK&opted&a&hypothesis&to&explain&why&people&commit&fraud.&Over&the&years‚&his& hypothesis&has&become&known&as&the&fraud&triangle.&The&triangle&is&usually&pictured& with&three&common&fraud&elements:&opportunity‚&motivation‚&and&rationalization.& The&opportunity&to&commit&fraud&occurs&when&employees&have&access&to& organizational&assets&or&information&that&allows&them&to&commit&and&conceal&
Premium