Case 1.3 Jamaica Water Properties Prepared by Alex Gonzalez for Professor C.E. Reese in partial fulfillment of the requirements for ACC 540 – Fraud Examination School of Business / Graduate Studies St. Thomas University Miami Gardens‚ Fla. Term A7 / Fall‚ 2014 October 24th‚ 2014 Table of Contents Issues 1 Facts 1 Analysis 7 Conclusions/Recommendation 7 References/Bibliography 7 Issues 1. In David Sokol’s position‚ after discovering the suspicious items in JWP’s
Premium Fraud Big Four auditors Financial audit
example when vandals attack the computer itself‚ or when a "computer virus" (a program capable of altering or erasing computer memory) is introduced into a computer system. As subjects of crime‚ computers represent the electronic environment in which frauds are programmed and executed; an example is the transfer of money balances in accounts to perpetrators ’ accounts for withdrawal. Computers are instruments of crime when they are used to plan or control such criminal acts. Examples of these types
Premium Computer virus Computer Malware
scholarship will motivate me‚ it will help me work hard in order to deserve it. a. Fraud is an intentional misrepresentation of facts‚ like Misappropriation of assets. In order to commit fraud a person has to have motivation‚ opportunity‚ and rationalization for committing the fraud. PCAOB AU 316 describes fraud as follows‚ “Fraud is a broad legal concept and auditors do not make legal determinations of whether fraud has occurred. Rather‚ the auditor’s interest specifically relates to acts that result
Premium Generally Accepted Accounting Principles Balance sheet Income statement
The Ontario Lottery and Gaming Corporation is responsible for a substantial amount of the government`s revenue in the province of Ontario. The OLG‚ characterized by its core values‚ integrity‚ respect as well as accountability‚ is always expected to perform the duty of care to its clients. However‚ the organization was hit by a scandal which exposed fraudulent behavior within its operations. The scandal was revealed by CBC`s documentary The Fifth Estate‚ in an episode titled `Luck of the Draw` which
Premium Fraud Ethics Enron
earnings expectations. This memorandum will describe who was involved‚ how the operation was carried out‚ as well as a timeline documenting the resulting damages of the scandal. On March 19th 2003‚ the Securities and Exchange Commission filed civil fraud charges against HealthSouth and CEO and Chairman Richard Scrushy of “allegedly duping investors into believing the company had met earnings targets” (washintonpost.com staff‚ 2004). The SEC’s complaint “alleges that since 1999‚ at the insistence of
Premium Fraud Accounting scandals Richard M. Scrushy
Memorandum to the File Date: From: Re: The Scott Rothstein Ponzi Scheme Introduction Scott Rothstein was a prominent Fort Lauderdale attorney. From 2004 until 2009 Rothstein ran South Florida’s largest Ponzi scheme (Franceschina‚ 2010). His Ponzi scheme collected 1.2 billion dollars during the time it was in operation‚ and like all Ponzi schemes he relied on payments by new investors to pay the previous investors. When his scheme began to fall apart‚ Rothstein fled to Morocco. He
Premium Ponzi scheme Bernard Madoff Fraud
the pressure‚ the opportunity and the rationalization. However‚ I agree with Lourdes Lora about Mitch demonstrating the greatest opportunity to commit fraud. Nowadays‚ divorces can be extremely stressful and costly. Mitch is an individual who already has his wages garnished by a court order. Why? We are missing substantial facts. Therefore‚ as a Fraud Examiner I would suggest to: 1) Interview Mitch‚ Crystal and John and gather additional facts. 2) In Mitch’s case. a) Request for court records. Review
Premium Fraud English-language films Management
Conflict in Ethical Decision Making at WorldCom Kerry Seeley Business Ethics MT4200 National American University September 25‚ 2007 Craig Chaplin Abstract This paper explains how WorldCom began and where it’s at now. It didn’t take long for WorldCom to become the second largest long distance phone company. WorldCom provided a legal framework for people working in communication projects on an individual basis‚ mainly in Central America‚ but they also developed projects together with partners
Premium Accounting scandals Fraud
Corporate crimes happen when the business enterprise use legitimate and illegitimate business practices. Crimes committed by the corporate enterprises vary and includes fraud‚ conspiracy‚ racketeering‚ environmental damage‚ or even homicide when agents of the company commit criminal acts to benefit the company or its shareholders. However‚ according to Alder et al. (2013)‚ multinational corporate crimes are a widespread and daily problem‚ so politicians have taken the opportunity to implement tougher
Premium Business ethics Crime Corporation
unfortunately a reality and financial management is not an exception. Unfortunately there are people out there that do not adhere to the general accepted accounting principles or ethical standards. When not following the standards theft‚ embezzlement‚ and fraud occur. Financial managers of an organization need to follow the four basic elements of financial management in order to prevent unethical behavior from occurring as well as making sure the organization reaches maximum financial success. Depending
Premium Management Ethics Finance