THE ROLE OF AUDITORS IN THE CONTEXT OF CORPORATE GOVERNANCE Asst. Prof. Loganathan Krishnan Abstract Auditors examine company’s accounts and report to the company on the accounts. Fundamentally‚ the concern is how auditors carry out these duties effectively. Legislations namely Companies Act 1965‚ Securities Industry Act 1983 which has been consolidated as Capital Market and Services Act 2007 have made major inroads to ensure that auditors carry out their duties and obligations effectively. Additionally
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to ensure that the provider is properly reimbursed for their services. In the pursuit of this goal‚ errors‚ both human and electronic‚ are unfortunately unavoidable. Since the process of medical billing involves two incredibly important elements (namely‚ health and money)‚ it’s important to reduce as many of these errors as possible.” (para 1). Thus‚ it can assist with prevention of simple errors like incorrect patient information‚ incorrect coding‚ incorrect provider information‚ mismatched medical
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Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Philippine Financial Reporting Standards for Small and Medium-sized Enterprises (PFRS for SMEs)‚ and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement‚ whether due to fraud or error. Auditor’s Responsibility Our responsibility
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Enron’s entries in the books that were missing. Outsiders owned less than 3% of the Special Purpose Entities equities. There was an error made by Arthur Andersen to let LJM’s financial statement to remain unconsolidated. If the financial statements had been consolidated‚ some of the errors could have been found. They may have even had some time to correct these errors before that had gotten so far out of control. There was not governing controls in place and fraudulent activities were unlimited. Andrew
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MODULE 3: CIT CASE QUESTIONS 1. The three aspects of fraud - Perceived pressure‚ Rationalization‚ and Opportunity were present in the CIT case as follows: Pressure- Niakan was placed under much pressure to meet monthly targets. The senior VP Ms. Thompson had earlier criticized his performance when it fell below expectations. Niakan had also been warned in his 2002 annual review that his team needed to improve end of lease sales and inventory returns. Apart from this work angle Niakan had personal
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Fraud in Special Education Published: August 7‚ 2012 Over the last several weeks‚ Comptroller Thomas DiNapoli of New York has issued audits detailing millions of dollars in fraud by private companies that provide special education services to preschool children with learning‚ developmental or other disabilities. With more than a dozen audits in the works‚ the bad news about the troubled program is clearly not over. And the scope of the wrongdoing could be broader still given that many of the
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Running Head: Credit Card Fraud Impact of Credit Card Fraud Outline Card Credit Fraud Thesis Statement: Credit card fraud is an inclusive term for larceny and deception committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to attain goods without paying‚ or to achieve illegal resources from an account. Credit card fraud is also an appendage to identity theft. According to the Federal Trade Commission‚ while identity
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What makes a good Linguistics critical review? Commentary on Review Topic Write a critical review of Wolfson’s article‚ ’Compliments in Cross-Cultural Perspective’. In your review you should summarise the text and then evaluate it (800 words) Academic Style and Conventions 1. Analysing the topic Notice how the topic is asking students to do two things - to summarise the text and to evaluate it. When reading a text‚ keep these two points in mind: - What is the text saying? (summary) - What
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Worksheet 06 Typed by: KOUN KEOPISEY |1. |Writers like William Shakespeare and Edgar Allan Poe are not only prolific | | |A B C | | |but too interesting. | | |D
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Organizational Responsibility and Current Health Care Issues Paper - Health Care Fraud Roberta Roelofs HCS / 545 November 17‚ 2014 Michael Grossman Health care fraud is a current health care issue throughout the health care industry from hospitals to home care services. “The National Health Care Anti-Fraud Association (NHCAA) estimates that health care fraud accounts for at least three‚ but as much as ten percent of total health care expenditures”(Hubbell‚ 2006). Health care organizations
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