Disclosure for Investor and Protection‚ also related to the contents of the prospectus. Furthermore‚ to ensure that companies are discouraged from toeing the line‚ the Companies Act prescribes severe penalties‚ both civil and criminal‚ for misstatements in a prospectus. These provisions also apply to brochures‚ pamphlets and other publicity material advertising the issue of
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Audit Manual Excerpt: Materiality Guidelines-- Planning Materiality and Tolerable Misstatement Planning Materiality This section provides general guidelines for determining planning materiality and tolerable misstatement for audits performed by Willis & Adams. The application of these guidelines requires professional judgment and the facts and circumstances of each individual engagement must be considered. Statement of Financial Accounting Concepts No. 2‚ “Qualitative Characteristics of Accounting
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Odysseus’ Negligent Leadership Throughout his reign as King of France‚ Louis XVI portrayed poor leadership. He was often considered indecisive‚ for this reason many of his men did not trust him. Louis XVI’s desire to expand France’s territory in order to acquire personal glory is comparable to Odysseus’ journey home to Ithaca in order to attain kleos. Not only were their goals similar but both Odysseus and Louis XVI’s men were killed in the process. In ancient Greece‚ Greeks had higher expectations
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to advise‚ but if he takes upon himself to do so‚ he will incur liability if he does so negligently.” ’ House of Lords in Banbury v. Bank of Montreal[1] I. Introduction The issue of legal liability of banks in the provision of negligent advice is one doctrine of law that has evolved through the years. In light of current controversies hounding the UK banking sector‚ it is not far-fetched nay unthinkable to surmise that such act would again be subjected to closer scrutiny and for
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Negligent Hiring: An Ethical and Legal Overview Introduction The subject of negligent hiring has gained considerable attention in the past few years as companies recognize the ethical and legal issues associated with negligent hiring. Currently‚ all fifty states and the District of Columbia acknowledge some form of negligent hiring as a cause of action for liability although the law has been inconsistently applied among the federal and state courts in a number of cases. While the legal requirement
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I chose to analyze the article called “Predicting Material Accounting Misstatements” co-authored by Patricia Dechow‚ Weili Ge‚ Chad Larson‚ and Richard Sloan. The authors of this article had the goal of showing its intended audience how they developed a database‚ recognized similar characteristics among misstating firms‚ and used the information gathered to develop a model to predict accounting misstatements. The subject of misstating financial statements (also know as earnings management) is a
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Elements of Negligent Tort Gregory Williams BUS 670 Dr. Mark A. Cohen 19 October 2012 A tort is a civil wrong that is not a breach of a contract. Tort cases and treatises identify different types of wrongfulness‚ culpability‚ or fault and define them in varying ways. ort law contemplates civil liability for those who commit torts. This distinguishes it from the criminal law‚ which also involves wrongful behavior (Mallor‚ Barnes‚ Bowers‚ & Langvardt‚ 2010). These laws have been modified
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Pure economic loss In this case‚ Brad suffered pure economic loss. Brad completed the course but finally did not become either a CPA or CA on the basis of his Doctor of Accountancy course. Besides‚ he could have earned $300‚000 a year as a management consultant. What is worse‚ he went to his former job which salary is still $200‚000 and spent two years study and obtained no help for increasing the salaries. Overall‚ he suffered financial loss from the negligent misstatement. To succeed in a negligence
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Case Brief: Kerl v. Rasmussen (2004) 273 Wis. 2d 106‚ 682 N.W. 2d 328 The facts in this case are that Harvey Pierce ambushed and shot Robin Kerl and her fiancé David Jones in the parking lot of a Madison Wal-Mart where Kerl and Jones worked. Kerl was seriously injured in the shooting‚ and Jones was killed. Pierce‚ who was Kerl’s former boyfriend‚ then shot and killed himself. At the time of the shooting‚ Pierce was a work-release inmate at the Dane County jail who was employed at a nearby Arby’s
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emotional distress to another. To be actionable (capable of serving as the ground for a lawsuit)‚ the conduct must be so extreme and outrageous that it exceeds the bounds of decency accepted by society. Business Law Today‚ 10th Edition‚ pg. 99. In the case of Kiwanuka v. Bakilana‚ Bakilana did cause emotional distress to Ms. Kiwanuka by threatening her with deportation‚ making her work twenty-four hours a day‚ grabbing her by the shirt collar‚ and taking her passport and papers which are extreme and
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