[pic] ACCTG 312 SC 2012: Assignment 1 Current issues – scandals in auditing Introduction • For this assignment‚ you are required to research and report back on one of four well known scandals that involve auditors in some way. • It can be commenced after week 1 lectures are completed‚ so gives you a chance to get part of your semester’s work done early. It is due in week 3 (Thursday at 4 pm). • You will also be required to very briefly report to your tutorial group on one interesting
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Introduction 2 2. History 3 a. Formation 3 b. Operations 3 c. The Success 4 d. All that glitters is not gold 4 e. The Fraud 4 3. Products 5 4. Enron Scandal – The Company Fraud 8 f. What Happed? 8 5. Techniques used in the Company Fraud 9 g. Revenue Recognition 9 h. Mark-to-market accounting 9 i. Special Purpose Entities 10 j. Executive
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Introduction Taoism as a Chinese religion began in the year 142 C.E‚ with the revelation of the Tao to Zhang Daoling or Chang Tao-ling by the personified god of the Tao‚ Lao Zi.Taoism emerged from a rich Shamanic tradition which existed in China and it is one of the Shamans‚ known as Kong FuZi.It was the first to construct a system by which the underlying structure of the universe could be expressed. Early religious rooted in the ideas of the Taoist thinkers‚ to which were added local religious
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economy? The Enron scandal is an example of a historical exposure of unethical behaviors within a company and it is also one of the largest corporate scandals in America. Enron started as a gas pipeline company. It soon expanded into the world’s largest and dominant corporation focusing on trading gas‚ electricity and water – the most essential needs of a citizen living in North America. In December of 2001 Enron filed for bankruptcy. The moral concern from this scandal was the immoral practices
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“Rambos of the Road” Martin Gottfried the author of “Rambos of the Road‚” was born in 1933‚ in New York. He received his degree from Columbia University and then he ended up going to law school for a while. After he left there‚ he severe two years in the U.S. Army. “He has authored several books and a lot of magazines articles on a variety of topics.” Gottfried’ s essay is about how much things have changed over the years with the way that people drive now a days‚ shows also how much road rage
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The Rampart Scandal When officers from the Los Angeles Police Department’s Internal Affairs bureau began shadowing Rafael Perez‚ watching their fellow cop steal massive amounts of cocaine from evidence lockers in order to sell it on the street‚ investigators thought they had a major misconduct case on their hands. They didn’t know the half of it. The perception of the Los Angeles Police Department has ranged from being the best police force in the United States to being a blatant racist agency
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and many aspects of corporate governance in America. As a result of the scandal‚ thousands of people lost their jobs‚ some people lost their entire pensions‚ and all of the shareholders lost the money that they had invested in the corporation after it went bankrupt. The Enron scandal is the most significant corporate collapse in the United States since the failure of many savings and loan banks during the 1980s. This scandal demonstrates the need for significant reforms in accounting and corporate
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Introduction Hallmark is the recent largest banking scam in Bangladesh‚ which occurred due to regulatory inefficiency of commercial banking sectors. It is a pointer to the fact that if you do not tighten the regulatory belt of the banks‚ serious problems could creep in. Source suggests‚ this particular business house is assumed to have resorted to fraudulent loan. A fraudulent loan is one in which the borrower is a business entity controlled by a dishonest bank officer or an accomplice; the “borrower”
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The Adelphia Scandal The Dawn of Adelphia Adelphia was founded in 1952 by John Rigas and his brother Gus Rigas in Coudersport‚ Pennsylvania with the purchase of their first cable franchise for $300. After 20 years‚ the Rigas brothers incorporated their company under the name Adelphia which derived its name from a Greek word which means brothers‚ an apt corporate title for a business that would employ generations of the Rigas family. Adelphia was a cable television company and built its success
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Rampart Scandal By: Cindy Medina Cindy Medina CJCU 403 John Strain April 15‚ 2012 Rampart Scandal in the LAPD Department Growing up everyone has been told stories of cops and how they represent being hero’s. Cops are supposed to save peoples lives and stand up against crime and violence but the stores we have been told are not exactly one hundred percent correct. The LAPD was involved in one of the most talked about scandals known as the Rampart Scandal
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