BUSINESS VALUES AND ETHICS ASSIGMENT: FRAUD AND CORRUPTION TABLE OF CONTENTS Introduction……………………………………………………………...3 Ethical issues………………………………………………………….....3 Impact on organization………………………………………………....3 Measures to be enforced………………………………………………..4 References………………………………………………………………6 INTRODUCTION Fraud and corruption is one of the biggest issues
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M1. Case Study Assignment: Fraud at WorldCom 1. Who were the major characters in WorldCom? There are a couple of major characters that played their roles in the downfall of WorldCom. Mr. Bernard J. (Bernie) Ebbers‚ one of the founders of the original small long-distance carrier‚ was asked to take charge of the company during its early struggles. It was under his tenure that WorldCom began its expanding pursuits and aggressive acquisitions. Although Mr. Ebbers was he head of the company‚ their CFO
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MEDICARE FRAUD Bobby Brown Colorado Technical University Medicare Fraud occurs when someone intentionally falsifies information or deceives Medicare (www.medicare.gov). Strike force accused ninety-four people across the U.S. The charges are based on several fraud schemes including Physical Therapy schemes‚ Healthcare schemes‚ HIV infusion schemes‚ and durable medical equipment schemes (Long-Term Living‚ Aug.2010‚ vol.59 issue 8‚ p10-10‚8/9p). These schemes exceeded $225 million in false
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Corporate Fraud: Case Studies in Detection and Prevention Fraudulent financial reporting‚ corruption‚ and misappropriation are often investigated by the internal audit department. Because these types of crimes can be the source of large losses‚ security professionals would do well to familiarize themselves with how they are carried out and how they can be detected. Corporate Fraud provides a clear window into that world. Author John D. O’Gara was the director of internal audit at a Fortune 500
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coercion‚ fraud‚ undue influence‚ misrepresentation and mistake. Without free consent‚ the contract can be voidable or void‚ depending on the circumstances. English | BM/Mandarin | Example | Effect on contract | Coercion | | | | Fraud | | | | Undue influence | | | | Misrepresentation | | | | Mistake | | | | 3. Difference between fraud and misrepresentation: Fraud (Section 17 of Contracts Act) | Misrepresentation (Section 18 of Contracts Act) | Fraud involves intention
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RM530 million Transmile accounting fraud – how Liong Sik is to assume responsibility as Chairman? Former MCA President and Cabinet Minister‚ Tun Dr. Ling Liong Sik was quite active in the past month‚ as a search with The Star archives would produce eight news items featuring him‚ including one today at the ceremony at the Universiti Tunku Abdul Rahman (Utar) campus in Kampar yesterday planting a Blue Pine tree. But he has been very reticent on what has been described as the biggest accounting and
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THE NATION’S NEWSPAPER BS2003-01b Collegiate Case Study Adelphia founder‚ 2 sons‚ 2 others arrested in fraud By David Lieberman and Greg Farrell www.usatodaycollege.com Accounting fraud Part II: The results “Creative accounting” is not a new technique‚ but it can certainly be a costly one. Businesses feel the pressure to appear profitable in order to attract investors and resources‚ but deceptive or fraudulent accounting practices often lead to drastic consequences. Are these so-called
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JB Accounting Fraud‚ the Investor and the Sarbanes Oxley Act Throughout the past several years major corporate scandals have rocked the economy and hurt investor confidence. The largest bankruptcies in history have resulted from greedy executives that “cook the books” to gain the numbers they want. These scandals typically involve complex methods for misusing or misdirecting funds‚ overstating revenues‚ understating expenses‚ overstating the value of assets or underreporting of liabilities
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The accounting fraud is frequent‚ widespread and familiar in many countries and organization. It brings a loss to firms and investors. But there is no research trying to explain factors comprehensively influencing it. The obyectives of the research are to test and explain the effect of the internal control effectiveness‚ suitability of reward‚ compliance to accounting rules‚ information asymmetry‚ management morality toward unethical behavior and intention to accounting fraud. More particularly
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The Xerox Corporation Fraud case (1997 – 2000) Xerox Corporation is a global document management company which manufactures and sells a range of color and black-and-white printers‚ multifunction systems‚ photo copiers‚ digital production printing presses‚ and related consulting services and supplies. Xerox is headquartered in Norwalk‚ Connecticut‚ though its largest population of employees is based in and around Rochester‚ New York‚ the area in which the company was founded. The history of
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