New Fraud Crackdown Looms | Emily Chasan Senior Editor With accounting-fraud cases at nearly a 10-year low‚ complacency might be the biggest fraud risk facing chief financial officers. Large fraud-related restatements of corporate earnings reports have fallen sharply since the financial crisis‚ but that doesn’t mean that companies aren’t still vulnerable to them. “There still is financial-reporting fraud going on out there‚” said Andrew Ceresney‚ the new co-director of the Securities and
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Peregrine Financial Group- Case study Last July 2012‚ a new financial fraud came out and hit the news headline‚ déjà vu‚ perhaps of other famous scandals‚ but not. This time a medium size financial institutions‚ name “ Peregrine Financial Group Inc” accused of shortfall of funds for around $200 million‚ where its CEO‚ Russell Wasendorf managed to misstated financial record for over 20 years‚ and finally in July 2012 filed for Bankruptcy. CEO‚ Russell Wasendorf‚ was no different than others high
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FINANCIAL ANALYST: THE EXPERT OF ECONOMIC AND ACCOUNTING Quyen Chu San Highline Community College English 205 Feb 4‚ 2012 CASE STUDY : THE BOOK OPENS THE DOOR Walking around the Phu Tho bookstore in Ho Chi Minh city‚ I decided to look for an interested book to bring along with me to America. Numerous questions came in my mind “What do I need? What is that book about?” Accidently‚ I went to the case containing full of financial and investment books. A purple small book with the phrase
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desirability response bias (SDRB) suggest that this bias can be highly correlated with gender and in some cases fully mediate the effects of gender on ethical decision-making (Chung 2003‚ Bernardi 2008‚ Dalton 2011). Nonetheless‚ within the scope of the accounting profession (where ethical behavior is a necessity)‚ little to no consideration for SDRB is taken in ethics research. For example‚
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Columbia Law School The Center for Law and Economic Studies 435 West 116th St. New York‚ NY 10027-7201 Working Paper No. 207 Understanding Enron: It’s About the Gatekeepers‚ Stupid John C. Coffee‚ Jr. July 30‚ 2002 This paper can be downloaded without charge from the Social Science Research Network electronic library at: http://ssrn.com/abstract_id=325240 An index to the working papers in the Columbia Law School Working Paper Series is located at: http://www.law.columbia.edu/law-economicstudies
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Limited (GC) is an example of what may occur when there are failures to properly audit financial statements and internal controls. This scandal happened around the same time as the Enron scandal. In early 2002‚ the GC bankruptcy was the fourth largest in the U.S. history. In 2005‚ it settled with the SEC‚ having been determined that it did not comply with numerous accounting laws. ABOUT THE COMPANY GC‚ founded in 1997 by Gary Winnick‚ was a telecommunications company with broad ambitions to rapidly expand
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UNIVERSITY D CASE NUMBER: GS-01 JANUARY 2001 O LUCENT TECHNOLOGIES: GLOBAL SUPPLY CHAIN MANAGEMENT N For our business‚ traditional manufacturing is not strategic‚ but world-class supply and demand chain management and product reliability‚ are. - George Foo‚ International Manufacturing Vice President‚ Lucent Technologies1 O As they met in Hong Kong in early 2000‚ George Foo‚ International Manufacturing Vice President for Lucent Technologies‚ and his key staff reviewed with satisfaction
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Nortel Case Study Daniel Jensen Victoria Brown Mary Mantell Matthew Passariello Michael McBride ACBG 4646 Accounting Ethics and Professionalism Dr. Barbara M. Porco Term Project Brief History: The company was born way back in 1882‚ as a mechanical department that was created within Bell Telephone Company of Canada to manufacture telephones and telephone equipment for Canada. Eventually the company progressed to the manufacturing of switchboards. The manufacturing arm of the company
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Assignment Content 1. Introduction Page 1~3 2. The corporate scandal Page 4~5 3. The scandal methodology Page 6~7 4. The firm hide their accounting scandal Page 8~9 5. The scandal effected Page 9~10 6. How the scandal has affected Page10~12 the accounting profession Page 7. Summary Page 12 8. Recommendations
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change in overall management. * Scrushy was also nailed for not returning a $25 million loan he had received as an executive stock-purchase plan on time‚ and eventually paid it in stocks instead of cash like it was planned. * A lot of the scandal had to do with Scrushy’s need for self-affirmation and lead the company as if he was the king of an
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