DATE: June 12‚ 2012 TO: Mr. Plex‚ Owner‚ Royal 16 Theater FROM: Team 8 RE: Analysis of Liability for Fraud Based off of your request‚ we have completed an analysis concerning Royal 16 Theater’s liability for fraud assumed by the customer‚ Tommy. Please contact us if any additional information is needed. July at the Multiplex Executive Summary What are the standards of selling a service or product so the customer will not get furious? If we tried out best but they are still unsatisfied‚ what
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Introduction Over the past two years‚ corporate America has endured a plethora of fraudulent acts committed by those of high status within their respective corporations‚ most of which involve internal fraud. Internal fraud has two main aspects‚ misappropriation of assets and fraudulent financial reporting‚ with the focus of this discussion lying within the former. Misappropriation of assets is defined as fraud for personal gain. It is the most common type of fraud found among employees and frequently
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Gloria Macapagal Arroyo‚ Fraudulent Free A Research Paper Presented to Prof. B. Nepomuceno P.H.D Mapúa Institute of Technology In Partial Fulfillment of the Requirement in Social Science for Academic Purpose (SS10 – B8) By De Ramos‚ Stella Mariz E. March 2012 ABSTRACT Law must punish anyone who committed a criminal act. Somehow‚ there are people who are accused to have done an illegal act but are later then proved to
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Case study 1 clearly was a case in which fraudulent activity had clearly taken place. If it was not for the internal audit conducted by the ABC company‚ Hank Duckworth would probably still be getting away embezzlement. The clues that led up to Hanks demise was that Jane discovered that some of the accounts payable checks lacked complete endorsement by the payees. When Jane dug a little deeper she found five more checks made out to different people but all of the endorsement’s had the same handwriting
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Fraud case with MCI. The following questions will be answered below 1) Discuss the internal control weaknesses that existed at MCI that contributed to the commission of this fraud‚ 2) Identify and justify the approach you would take if you suspected fraudulent activity within an organization where you work‚ 3) Critique the ethical nature of Pavlo’s actions in the case and 4) Apply one (1) theory related to crime causation to this case. The internal control weakness that exists at MCI was Pavlo; he was
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Introduction to scams Various scams‚ scandals and stigmas that have surfaced in the recent years. These may not all be attributable to the antics and bungling of politicians‚ but they have been facilitated largely because of the vitiated atmosphere that the politicians and the political system have created in the country. Scams and scandals have manifested themselves in large numbers over the past few years. The latest‚ the Petrol Pump Scam concerning 3‚158 allotments of petrol pumps‚ LPG agencies
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Market Sharing j. Advertisements k. Trade Tariffs • LAWS TO RESTRICT UNFAIR TRADE PRACTICES • CHAPTER I .PRELIMINARY 19 Short title and commencement • CHAPTER II. PROHIBITION OF FRAUDULENT AND UNFAIR TRADE PRACTICES RELATING TO THE SECURITIES MARKET Prohibition of manipulative‚ fraudulent and unfair trade practices. • CHAPTER III . INVESTIGATION • Powers of Investigating Authority • Enforcement by the Board • Repeal and savings • Are unfair trade practices only relevant to
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Accounting Fraud: A White Collar Crime Accounting Fraud: A White Collar Crime The CEO and CFO of a Swiss security systems company named Tyco‚ stole 150 million dollars from their company before being caught in 2002. At the height of the scandal‚ the CEO threw a 2 million dollar birthday party for his wife on a private island with guest performer Jimmy Buffet. After being caught‚ the CEO and CFO were sentenced to 8-25 years in prison and Tyco had to repay its investors 2.92 billion dollars (The
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accounting principles (GAAP)‚ in which organizations use to compile their financial statements. These standards and procedures must be adhered to or organizations can risk governmental penalties for non-compliance. Non-compliance can also lead to fraudulent assumptions and bad reputation‚ but following professional ethical standards and procedures can lead to successful organizational outcomes. Four Elements of Financial Management There are four identifiable elements of financial management‚ which
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notification‚ etc. Misrepresentation and Fraud * Relationship between Misrepresentation and Fraud * Misrepresentation: assertion that is not in accord with the truth * Can be “innocent” or “fraudulent” * Innocent: not intentionally deceptive * Fraudulent: made with knowledge of falsity and intent to deceive * Either one can give the complaining party right to rescind contract * Fraud: type of misrepresentation that is committed knowingly‚
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