Fannie Mae’s Fraud 1. Fannie Mae was established in 1938 as a federal charter under President Franklin Roosevelt as a secondary market to expand the flow of mortgage money under any economic condition because millions of Americans could not become homeowners before Fannie Mae. In 1968 Fannie Mae was rechartered by congress as a shareholder owned company‚ funded solely with private capital raised from investors. The charter is directed to increase the availability and affordability for homeownership
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Accounting and Finance Master Thesis No. 2002:53 Financial Statement Fraud - Recognition of Revenue and the Auditor’s Responsibility for Detecting Financial Statement Fraud - Tiina Intal and Linh Thuy Do Graduate Business School School of Economics and Commercial Law Göteborg University ISSN 1403-851X Printed by Elanders Novum Abstract Financial reporting frauds and earnings manipulation have attracted high profile attention recently. There have been several cases by businesses
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Democracy Work. Civic traditions in modern Italy‚ 1(3)‚ 1-61. Facebook. (2011). Remembering loved ones on Facebook. Retrieved December 7‚ 2011‚ from http://www.facebook.com/notes/facebook-safety/remembering-loved-ones-on-facebook/30 6746312679491 Marwick‚ A.‚ & Boyd‚ N. (2012). Facebook memorial. Broadcasting and electronic media‚ 22(2)‚ 3-4.2p. Hogan‚ B. (2010). The Presentation of self in the age of social media: Distinguishing performances and exhibitions online. Bulletin of Science‚ Technology
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poor performance results in losses or a stagnating output. As a result‚ managements are required to adopt and adjust to approaches that are efficient in enhancing effective performance‚ which is necessary for an organization’s profitability (ICAA & KPMG 2012). Involvement of stakeholders in piling pressure on an organization’s board has created the need for the so-called boards and risk management committees to be able to obtain an in-depth insight in handling risk factors. b) The Benefit of the
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conditions; the only environments which are truly hostile to this shell are abrasion‚ such as may be the case on sandy sites‚ and oxidation. However‚ the most favourable conditions for preservation of the pollen record are acidic‚ anaerobic sites such as peat bogs. This high degree of survivability combines with another factor inherent in the nature of pollen - the large amount produced - to make pollen analysis one of the most important tools available to the archaeologist. Though one further factor
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2013 KPMG Cup 24-Hour Business Challenge 4/21/2013 Case Study—— China Dongxiang (Group) Co.‚Ltd Shanghai University of Finance and Economics Team name: SJ Team leader: Jiang Jiaxiu‚ sophomore Major: financial management from Accounting Institute Team member: Shi Yahui‚ sophomore Major: financial management from Accounting Institute Contact information: 13818526281 jiangjiaxiu93@163.com 777 Guoding Road‚ Yangpu District ‚Shanghai‚ China 200433 1 2013 KPMG Cup 24-Hour
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What is Fraud? Fraud occurs when individuals purposely materially misstate facts with the intent of coercing someone to believe these misrepresentations. Upon believing the misrepresentation‚ individuals will act upon them and suffer a loss or damages. Fraud occurs in various forms: 1. Misappropriation of assets 2. Fraudulent financial reporting 3. Employee fraud 4. Management fraud The Fraud Triangle * Motive/Incentive: a reason to commit the fraud * Opportunity:
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Company research about big four | PwC | KPMG | Deloitte | EY | Why this | We aspire to help you achieve your success and make a difference for our clients. The core of who we are and what we want to be is expressed through our PwC Experience behaviours.We are passionate about what we do. Bringing our PwC Experience to life is our everyday commitment. It’s about how we work with each other and our clients. We focus on creating the value we want‚ developing meaningful relationships‚ and understanding
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Chapter 1 Toyota’s Global Expansion In November 2004‚ Hiroshi Okuda‚ Chairman of Toyota Motor Corp. of Japan‚ announced that the company was going to build another factory in North America‚ raising the number of factories producing parts or assembling cars and trucks in North America to 14. As of May 2004‚ Toyota manufactured parts and assembled cars in 51 overseas manufacturing companies in 26 countries/locations. In 1980‚ the company had only 11 production facilities in 9 countries‚ so
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1. At the start of the case‚ Cisco’s information systems are failing‚ yet no one steps forward to lead the effort to replace them. Why is this? Why were no managers eager to take on this project? Why is this? When Peter Solvik joined Cisco in January 1993 as the company’s CIO‚ Cisco was a $500 million company running a UNIX-based software package to support its core transaction processing‚ including financial‚ manufacturing‚ and order entry systems. At that time‚ Cisco was experiencing significant
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