Test 2 Study Guide Chapter 6 1. Is fraud only prosecuted criminally or are there other methods to prosecute for fraud? a. Fraud may be prosecuted criminally or civilly. 2. What is the standard by which law enforcement making arrest adhere to? a. Probable cause 3. What makes evidence admissible in court? a. Evidence is admissible in court if it is relevant‚ its probative value outweighs any prejudicial effects‚ and it is trustworthy‚ meaning that it is subject to examination and cross-examination
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increase‚ companies face the growing risk of their systems being compromised. Managers should be alert to the possibility that unusual events or transactions could be symptoms of fraud or attempted fraud. Fraud may also be highlighted as a result of specific management checks or be brought to management’s attention by a third party. Fraud takes two forms: misappropriation of assets and fraudulent financial reporting‚ either the two fraud has a harmful effect in the overall organization. There are three
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Tiffany Robinson CJS/240 September 20‚ 2012 Delinquency Deterrence Response Farrell Binder The threat of punishment does not deter juvenile delinquency. According to Wadsworth‚ children are punished less severely than adults‚ limiting the power of the law to deter juvenile crime (Wadsworth‚ 2005). According to the Choice Theory‚ “Choice Theory holds that youths will engage in delinquent and criminal behavior after weighing the consequences and benefits of their actions.” Some experts believe
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will be deterrence. What deterrence means that it is the attempt to discourage criminality through the use of punishment. (Macionis‚ 2006) one example of deterrence is that you know the outcome of the punishment before you decide to break any sort of law. It is believe that this concept was based on the thought that citizens will not break the law if they think that the pain of the punishment will outweigh the pleasure of the crime. (Macionis‚ 2006) one example that I thought of for deterrence was that
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Financial Statements Fraud Table of Contents Introduction ........................................................................................................ 1 Definition ............................................................................................................. 1 Purpose of Financial Statements Fraud ..................................................... 1 Financial Statement Fraud Schemes
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more disturbing was the median length of time before the frauds were detected: 18 months. And‚ that’s not all; the study found that almost half of companies were unable to recover the amounts they lost. Treasurers will want to take note of several specific findings from the study. For starters‚ asset misappropriation schemes accounted for nearly 90 percent of the frauds. The schemes included making fraudulent disbursements‚ recording ghost employees‚ altering check payees‚ and submitting fictitious
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controls‚ choose a specific internal control and explain in detail when and why it should be put in place. What is the controller’s role and level of involvement in this process? Support your choice with examples. Overall internal controls for an organization are crucial for sound financials and operations. It is management responsibility for maintaining adequate internal control and it should start at the top; either from the chief financial officer or controller. A specific internal control I
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eBARING BANKS THE MOST SHOCKING ALARM BELL ABOUT FRAUDULENT Introduction On February 26‚ 1995‚ the oldest British Bank’s declared bankruptcy due to fraud caused the warning bells for many other organizations about the level of danger fraud can cause. Nick Lesson‚ a guy who comes from a background of the working class‚ had been working for Royal Bank Coutts‚ Morgan Stanley for a couple of years until he finally joined the Barings. He was assigned a job in Barings (Jakarta) to sort
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B1 – Ethics‚ fraud and internal control at Bern Fly Company The main purpose that a good internal control must fulfil is to protect the firm’s assets from fraud and theft. As we can see from the description of Bern Fly Company’s case‚ the internal control within the company leaves much to be desired. As it can be read in the case the salespersons get commission promptly after each order taken by their customers without any control to check if that order is real or only a fictitious one. This
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Issues In Auditing and Professional Practice ASSIGNMENT QUESTIONS The questions in this assignment are extracted from the text book for this paper; Reference: Johnson‚ R. (ed)‚ Readings in Auditing Volume 2‚ John Wiley & Sons Australia‚ 2007. Answer the following 4 questions: Question 1: (Chapter 10 “Australian Wheat Board”‚ p135 Question 4) Discuss the lessons to be learnt from the AWB scandal. Question 2: (Chapter 12 “Fraud prevention and detection- further guidance”‚ p158 Question 3)
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