Accounting Fraud: A White Collar Crime Accounting Fraud: A White Collar Crime The CEO and CFO of a Swiss security systems company named Tyco‚ stole 150 million dollars from their company before being caught in 2002. At the height of the scandal‚ the CEO threw a 2 million dollar birthday party for his wife on a private island with guest performer Jimmy Buffet. After being caught‚ the CEO and CFO were sentenced to 8-25 years in prison and Tyco had to repay its investors 2.92 billion dollars (The
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important to ensure that the auditing profession meets its responsibilities to its clients. While working for a company to audit their financial information‚ they are also at the same time working for the public and regulators who rely on externals auditors to prove credibility to the financial information that companies release (Cooper‚ Coram‚ Richardson‚ & Leung‚ 2009). To assist in quality assurance‚ the profession‚ and government have developed multilevel framework which is designed to regulate
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What is a reactive attitude? What bearing does it have on the problem of free will? A theory that has attacked the validity of discussions on freedom in modern philosophy is determinism. In these discussions‚ questions have arisen as to how the truth or falsity of this theory should affect our lives. In this essay I will discuss the formal implications‚ illustrated by Peter Strawson‚ that come about from this. This will mean discussion of our reactive attitudes on: our moral considerations and on
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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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types of fraud have occurred since the 1800s. As the economy fluctuates‚ many people and organizations believe they must commit fraud in order to have financial gain. Organizations and individuals must understand fraud and the types of fraud‚ in order to protect themselves. There are professionals trained that have received anti-fraud certification in order to fight against fraud. The anti-fraud professional assist companies and individuals in order to detect fraud. Theses anti-fraud specialists
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Business Plan Materials Department Hospitality Operations Management Stenden University – International Hospitality Management Leeuwarden The Netherlands Submitted in Partial Fulfilment for the Requirements of the degree Programme Bachelor of Business Administration (BBA) in International Hospitality Management. April 2011‚ Module 3 Materials Department Odd weeks Nick Sweertman - 79125 Even weeks Susanne Dupuis -117579 Declaration of own work 1. This work
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University of Technology‚ Owerri‚ Imo State‚ Nigeria Abstract: There is an urgent need for improving security in banking region. With the birth of the Automatic Teller Machines‚ banking became a lot easier though with its own troubles of insecurity. Due to tremendous increase in the number of criminals and their activities‚ the ATM has become insecure. ATM systems today use no more than an access card and PIN for identity verification. The recent progress in biometric identification techniques‚
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Perceptual Errors in your Organisation and how will you correct them. 1) Prototypes:- Usually according to the group or profession you belong to‚ you are assumed to have certain characteristics‚ whether you have them or not. In our organisation‚ we have a team manager who has an impression of being unapproachable and unfriendly‚ only because of his position. Due to this reason none of the employees approach him for help‚ even though it might hurt productivity. Since a few colleagues and
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Explain errors of omission and errors of commission. Ans - == Errors of commission == An error of commission occurs when you record an incorrect value in posting. Such errors include original entry errors‚ transposition errors‚ calculation errors and reversal of entries. An original entry error occurs when an incorrect figure is recorded and posted. A prime instance of this is the ten-key error‚ where you accidentally hit the number above the correct key. For example‚ if you enter 7‚ instead
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’Is it possible for auditors to achieve absolute independence and what regulations should be imposed to attain or maintain independence?’ Auditor independence requires auditors to take an unbiased viewpoint in the overall performance of the audit report‚ and therefore maintain the fundamental principles of integrity and objectivity. Auditor independence is possible‚ however it is quite hard to achieve as it requires auditors to meet all the guidelines set out by AASB and statutory requirements
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