ASSIGNMENT 3 FRAUD IN THE AIS JERRY S. KOLEH STRAYER UNIVERSITY PROF. DANIEL ACHEAMPONG ACCT564 (ACCOUNTING INFO SYSTEM) MAY 26‚ 2013 Embezzlement of $19.2 Million at Citigroup and the failure of its AIS to prevent the fraud As alluded to by the Security Director ’s Report (2011)‚ it seems internal auditor were not thoroughly reconciling or analyzing statements relative to payments made to contractors and money transfers. Or still‚ they probably did not even have information
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What happened in Enron and Arthur Andersen? United States ’ seventh largest company Enron‚ with the slogan "Ask Why" was admired for its innovation‚ but it all ended up in bankruptcy and criminal matters. The company filed for bankruptcy in December 2001. This was one of the world ’s biggest corporate scandals in history. USA ’s seventh largest firm had in over sixteen years increased its assets from 10 billion to 70 billion U.S. dollars‚ and was by the stock market analysts from Wall Street
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Corporate Fraud I. Introductions a. Fraud in the accounting environment is on the increase. b. Fraud takes place in different forms in the accounting environment. II. The growing risk of fraud and corruption a. Local problems‚ global pain b. Awareness is crucial c. Tailoring efforts to avert damage III. Preventing Fraud a. Background checks and enhanced due diligence b. Monitoring and evaluating preventive controls c. Continuous controls monitoring IV. Can we eliminate fraud and corruption
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1. The Enron debacle created what one public official reported was a “crisis of confidence” on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your choices. a. Kenneth Lay‚ Jeffrey Skilling‚ and Andrew Fastow. A common theme of the allegations leveled at the three executives was that they had created a corporate culture that fostered‚ if not encouraged‚ “rule breaking”. b. Andersen
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metropolitan university Strategic management Assignment 02 - Enron Submitted to: Mr. Shane De Silva M.F.M.M Fazlan ICBT/ BABM/07 Executive Summary This report is provides information the Enron scandal which is revealed in 2001. The main reasons for scandal have been described. There are many individuals as well as companies involved in the scandal. The mechanisms in governance
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Harsh Pratap Singh Experienced Branding Associate‚ Operations Executive‚ Summer Intern at Pepsi-co. Contact Me: E-mail: singhharsh55@yahoo.com Voice: +918527071333 Summary A bottom line focused strategy executive with exposure to Branding‚ Back-end Operations and Business Development‚ Customer Service‚ Visual Merchandising‚ Market Research & Distributor-sales Management. Specialties: Branding and Identity‚ Production Management‚Advertising‚ New business
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it. Hence‚ whatever the technique and style of the teachers in teaching was always the crucial point. No wonder‚ many teachers were now trying to innovate the old learning styles and replacing it with new and more fun techniques like the Computer Aided Instruction (CAI). Despite the revolutionary advances in the field of computer-based education‚ technology remains simply a tool. Potentially powerful and stimulating‚ the computer is only an inert object that can never be a substitute for the personal
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am detailThe ENRON Scandal is considered to be one of the most notorious within American history-White Collar By misrepresenting earnings reports while continuing to enjoy the revenue provided by the investors not privy to the true financial condition of ENRON‚ the executives of ENRON embezzled funds funneling in from investments while reporting fraudulent earnings to those investors; this not only proliferated more investments from current stockholders‚ but also attracted new investors desiring
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TABLE OF CONTENTS INTRODUCTION: EXECUTIVE SUMMARY 3 RATIONALE OF THE PROJECT 3 MAIN OBJECTIVE: 3 METHODOLOGY 3 THE ENRON STORY: BRIEF 4 HOW AND WHAT TYPE OF FRAUDS WERE COMMITTED? 5 THE ROLE OF STOCK OPTIONS 5 THE USE OF OFF-BALANCE SHEET PARTNERSHIPS 5 Example: LJM 5 Chewco 6 LOBBYING 6 ACCOUNTING PRACTICES 6 DIFFERENT ETHICAL DIMENSIONS 7 SOCIAL DIMENSION 8 AFFECTS ON EMPLOYEES AND SHAREHOLDERS 8 ENRON INDIA 8 AGGRESSIVE NATURE OF ENRON: PERSONAL ETHICS 8 ENRON’S ARROGANCE:
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The Consequences Of Committing Delinquent Offenses Juvenile delinquency is a big problem in the United States‚ where 92‚854 minors were incarcerated in residential facilities for juveniles in 2006. In fact‚ about 17% of all the people arrested in the United States are under the age of 18. Not only does the problem affect the victims of the crime; it also affects the juvenile deliquent’s family‚ future‚ and society as a whole. The most obvious people affected by juvenile delinquency are the victims
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