pressure and a lack of internal control‚ AIG have committed frauds resulting in several scandals. One of the accounting scandals was disclosed during 2005 which involved a material mis-statement due to false transactions during 2000. This scandal set to prelude leading the downfall of AIG in 2008. In this paper‚ I will analyze the cause‚ the transactions and finally effects of the scandal. The Accounting Scandal The Players The CEO of AIG was Maurice “Hank” Greenberg. Greenberg joined AIG in 1962
Premium Actuarial science Insurance Fraud
Nolland works with jacks company .Its a small company with 12 employees .She is responsible for her work and also always top of all work and in any situation she needs to handles with customs or employees she is top of all work.Her duties are answering phone‚entering orders into the system to tracking inventory and updating client files‚back up for other colleagues‚ Handles sales staff commissions and employee benefits‚ makes decision of purchasing decisions for the office‚ Shopping office needs and comparing
Premium Employment Leadership Organization
BANK OF PUNJAB (BOP) SCANDAL OF 9 BILLION RUPEES LOAN TO HARIS STEEL The Bank of Punjab (BOP) hit by a massive scandal‚ a unique fraud that involves billions of rupees. The State Bank of Pakistan expressed its great concern over the Bank’s “system and controls”‚ terming them “quite weak” while the internal audit of the Bank has repeatedly cautioned the management on the huge facilities offered to certain companies. The recipients of the huge loans include owners of some companies that do
Premium Operational risk Financial audit Credit rating
The Lucent Accounting Scandal Abstract The case discusses the accounting frauds committed at the US-based telecommunications giant‚ Lucent Technologies Inc. (Lucent) during early 2000. It provides an insight into the ways by which the financial statements were manipulated at Lucent. It examines the loopholes in the financial management of the company and the price it had to pay for circumventing the provisions of law. The case examines the allegations against Lucent and its officers with reference
Premium Generally Accepted Accounting Principles
Health Issues Do cell phones pose a health hazard? Many people are concerned that cell phone radiation will cause cancer or other serious health hazards. The weight of scientific evidence has not linked cell phones with any health problems. Cell phones emit low levels of radiofrequency energy (RF). Over the past 15 years‚ scientists have conducted hundreds of studies looking at the biological effects of the radiofrequency energy emitted by cell phones. While some researchers have reported biological
Premium Mobile phone Radio
PRESENTED BY NIKHIL TIWARI SCALE OF THE SCANDAL… “This dwarfs by orders of magnitude any financial scam in the history of markets “ -Andrew LO‚ Professor of Finance‚ MIT WHAT IS LIBOR ? Libor is the benchmark interest rate that affects how consumers and companies borrow money across the world. It the average interest rate calculated through the submission of interest rates by major banks in London. It is controlled by British Bankers ’Association(BBA) WHAT IS AFFECTED
Premium Bank
Driving While Using Cell Phones Increases Road Carnage Dependence on the cell phone is one of the most defining features of the 21st century. This situation is due to cell phones proving to be convenient devices and practical for real-time communication. However‚ this dependency has seen people use cell phones in all situations‚ even when driving. Accordingly‚ this development has led to a converse increase in road accidents related to mobile usage while driving in spite of existing legislation
Premium Mobile phone
The Iran Contra Affair Scandals‚ never really a matter but did this not mean that they were non-existent. Scandals do exist in the United States the biggest scandals are the one where everybody is involved I’m referring to the presidential scandals. Society took notice of how government was keeping information a secret. So U.S citizens dove in deeper to the political region to discover these unknown facts. Presidential scandals became more known after LBJ pentagon papers. Then suddenly Nixon’s
Premium Richard Nixon Watergate scandal Gerald Ford
power. This renowned leadership may be the only association made by certain countries‚ while in the United States many see an other significance: Watergate‚ Whitewater‚ Kennedy’s brutal and mysterious assassination‚ and today‚ Clinton’s "zippergate" scandal. When the President of the United States takes oath‚ he gives up a part of his life. His private life becomes the public’s life‚ and they feel the right to know what happens behind the Oval Office. Now the Presidency must battle against Newspaper
Premium President Journalism President of the United States
"Cell Phone" redirects here. For the film‚ see Cell Phone (film). For the Handphone film‚ see Handphone (film). The Qualcomm QCP-2700‚ a mid-1990s candybar style phone‚ and an iPhone 5‚ a current production smartphone. A mobile phone is a device that can make and receive telephone calls over aradio link while moving around a wide geographic area. It does so by connecting to a cellular network provided by a mobile phone operator‚ allowing access to the public telephone network. By contrast‚ a cordless
Free Mobile phone