Assignment 1: Scandals in Auditing Fortex Introduction Fortex was regarded as one of New Zealand’s top companies. They used innovative technology to add value to their product. They won awards‚ looked after employees‚ and paid suppliers well. But when the company collapsed in March 1994 it was revealed that the success was all based on false accounting. The management team was able to fool a company of respected auditors as well as everybody else for more than three years. Thousands
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Auditing failure is also a key factor contributing to the Wedtech scandal. It is presented as a result of independence of auditing reporting and confirmation.On the one hand‚ even if auditors complied with auditing process on the surface (Berg and barbanel‚ 1987)‚ they are not independent since they were bribed to forge auditing reports.In 1982‚ Wedtech employed the Main Hurdman to financially audit its financial statementswhen it went to Initial Public Offerings. One of the auditing partners‚ Richard
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me‚ it will make me think of this‚ my favorite cartoon character‚ her name is Hello Kitty. I believe that everyone knows her; maybe now you are surrounding by her. But‚ did you know that Kitty was modeling for the Dior brand in Vogue? Have you ever heard about that Bill .Gettys once willing to pay 56 billion dollars to take over Hello Kitty’s ownership? Today‚ I’m goanna to tell you more about this pop cat. Hello kitty‚ name kitty white‚ was born on November 1st 1974‚ in London. She weighs
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| A Trifecta Scandal | Arthur Waldon | | Charter College | | Conspiracy to steal more than a quarter billion dollars from insurance companies. The plot involved 10 doctors‚ 9 separate clinics in New York and 105 different corporations‚ and all in service in a health care fraud ring. It all stems from Russian-speaking immigrant population‚ to who grew up in a communist society that bred despite for the rules and a willingness to cheat around them. Come to find out this scheme is the
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Hello Jonas‚” I had said to the boy who had just walked in. “Hello Giver.” Jonas was the new receiver of memory‚ I had felt a burning sensation in my heart it was as if someone had just started a campfire with the fire dancing around with the wind‚ the black ashy smoke coming in you’re face burning your eyes making little bowls of water in your eyes. “Jonas i’m going to give you a memory of my own childhood‚ it is very painful.” I had stopped‚ for this memory is why my heart burns‚ I had felt something
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league’s Chairman and Commissioner. It is currently contested by nine teams‚ consisting of players from around the cricketing world. ------------------------------------------------- However‚ the league has been engulfed byseries of corruption scandals. ------------------------------------------------- Controversies involving the Indian Premier League From Wikipedia‚ the free encyclopedia The Board of Control for Cricket in India (BCCI) has found itself in the middle of many conflicts with
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SATYAM SCANDAL I. Analyze the case and respond to the following questions: (a) Discuss the earnings management techniques employed by the management of Satyam. In this case of Satyam‚ I can conclude that the obvious technique employed by the said management are: 1. “Big Bet on The Future”. When an acquisition occurs‚ the company acquiring the other is said to have made a big bet on the future. As refer to this case‚ Ramalingam Raju the Chairman of Satyam Computer Services Ltd
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Before the summer of 1972‚ the word "Watergate" meant nothing more than an office and luxurious apartment complex in Washington‚ D.C. As a result of a "third-rate burglary" on June 17 of that year‚ it came to be associated with the greatest political scandal of that century and would change the lives of the many people involved — especially President Richard M. Nixon. While doing his rounds at the Watergate Hotel in the early morning of June 17‚ 1972‚ security guard Frank Wills found a door‚ located
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When‚ in 1974‚ employees at the Japanese design company Sanrio created Hello Kitty‚ the small‚ rounded cartoon cat with a red bow between her ears and no mouth‚ they could never have dreamt that she would become the global megastar she is today. Sales of Hello Kitty merchandise now account for half of Saniro’s $1bn (£500m) annual turnover and her face adorns 50‚000 products‚ sold in more than 60 countries. The little half-Japanese‚ half-English cat has become so globally recognisable that it is
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Charles Ponzi .. The Scandal !!! By: Rawan Al-Deraibi Class of: Prof. Alan J. Pan Who is Ponzi?!! Born in 1882 in Parma‚ Itlay‚ Charles Ponzi was the infamous swindler who payed out returns (To give money in exchange for goods or services) with other investors’ money. The "Ponzi scheme" is named after him. After running a highly profitable and expansive investment scheme‚ Ponzi was arrested on August 12‚ 1920‚ and charged with 86 counts of mail fraud. Owing an estimated $7 million‚ he pleaded
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