The main suspects at this time are Ben Hill‚ Michelle Shelton‚ Candie Harris‚ Sam MacCarty‚ and Phil Ackers. The red flags in this case deal primarily with a lack in segregation of duties. These suspects all juggle multiple roles‚ some of which are not listed in their job description. Some of these suspects actively seek out additional responsibilities and place themselves in roles where they probably do not belong. Further rationalization for choosing these suspects is outlined below. BEN HILL
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. What is PRC GAAP? | Generally accepted accounting principles ("GAAP") of the People’s Republic of China ("PRC") come from a number of sources‚ majority of which represent the laws and regulations issued by the Ministry of Finance ("MOF")‚ and‚ listed company disclosures issued by the China Securities Regulatory Commission ("CSRC"). | | 2. What is IFRS? | International Financial Reporting Standards ("IFRS")‚ often known the original International Accounting Standards ("IAS")‚ are a set
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MODULE 3: CIT CASE QUESTIONS 1. The three aspects of fraud - Perceived pressure‚ Rationalization‚ and Opportunity were present in the CIT case as follows: Pressure- Niakan was placed under much pressure to meet monthly targets. The senior VP Ms. Thompson had earlier criticized his performance when it fell below expectations. Niakan had also been warned in his 2002 annual review that his team needed to improve end of lease sales and inventory returns. Apart from this work angle Niakan had personal
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ORGANIZATIONAL FRAUD [pic] Submitted by: Amit Goel(amigoel@gmail.com) Mohit Goel Executive Summary For many organizations‚ “getting it right” or “getting it wrong” is a matter of survival. This study talks about the issues like‚ ‘organisational fraud’‚ ‘ethics’ & ‘empowerment’ in an organisation and their relation to standards of good behaviour in order to explore various ways in which occurrences of ever increasing frauds can be checked. Organisational Fraud can be perpetrated by those
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Coding Fraud Michael Anastasio Ultimate Medical Academy Before answering the questions “what are my responsibilities for billing on a procedure that was not performed but asked to do so anyway”‚ Let me explain a little on Medical Billing Fraud? It is an attempt to fraudulently obtain payments from insurance carriers. Fraud in medical billing cost tax payers and medical providers millions of dollars annually (all-things-medical-billing.com). In 1996‚ HIPPA established the Health Care Fraud and
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Question 1: Name two cases in which companies have committed frauds by misstating inventory. Crazy Eddie and Goodner Brothers case are the good example for the inventory fraud cases. Question 2: What makes the intentional misstatement of inventory difficult to detect? When you have the most senior management of the company‚ particularly its financial management‚ consciously setting out to fool the auditors‚ to hide information from them‚ as they testified in the Monus trial‚ it’s very hard to
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MGT 6030 IFRS vs. US GAAP assignment In this assignment‚ I will talk about four ways in which financial reporting can differ between US GAAP and IFRS. The first issue is the way in which inventory is carried from period to period. Another is the revaluation of Property‚ Plant‚ and Equipment‚ which is allowed under IFRS. US GAAP does not allow such flexibility. The next difference I found interesting was that US GAAP has specific guidelines surrounding when to expense Advertising Costs. Given how
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Chapter 1 Discussion Questions 1. Fraud always involves deception‚ confidence‚ and trickery. The following is one of the most common definitions of fraud: “Fraud is a generic term‚ and embraces all the multifarious means which human ingenuity can devise‚ which are resorted to by one individual‚ to get an advantage over another by false representations. No definite and invariable rule can be laid down as a general proposition in defining fraud‚ as it includes surprise‚ trickery‚ cunning and unfair
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Insurance Fraud A gang of Russian crooks ran a record-setting‚ $279 million fraud that exploited New York’s “no-fault” auto –accident law‚ authorities said 2/29/12. The gang worked with corrupt doctors to set up more than 100 phony medical clinics across the city. There‚ they generated fake bills for the treatment of “injuries” that “ranged from wild exaggerations to outright fabrications‚” Manhattan US Attorney Preet Bharara said. The fraudsters took advantage of the “patient-friendly provisions”
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FY 12 Recoveries2 Total $ 113‚920.04 1 OWCP may apportion recoveries from provider fraud to various agencies. Settlements stemming health care provider fraud typically reflect as a credit on the agency end-of-year Chargeback Report. It is clear that OWCP need to establish National and district level fraud units to pursue collections and process treasury collections. The agencies should not bear the financial burden of restitution payments that OWCP is failing to pursue. Allow USPS to develop
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