Fraud Case Studies Samples For Students

Executive Summary

This case study focuses on identifying fraudulent issues taking place in the given four situation of Forensic Accounting. It identifies the issue on hand for every situation and goes further to discuss the in details the presence of elements such as coercion, collusion, and concealment. Nevertheless, the paper utilizes the fraud triangle to explain how the fraudulent acts are committed. The conclusion for each situation discusses the possible ways of addressing the issues being identified.

Introduction

Fraud have been on rise in forensic Accounting creating path for more investigations in order to identify ways in which these frauds arise and ...

Institiution

According to the Wharton research, when an executive is overconfident and thinks that his organization is just facing the bad luck otherwise it is in best concern of all stakeholders. These stakeholders include customers, shareholders, management, creditors, and employees. The executive to cover up the problem takes short routes that do not allow the executive to understand the poor performance of the organization as a future threat. An overconfident manager does not consider the flaws and search for gray areas to manage earnings that led them to fraudulent behavior (Wharton, 2008).
If the case of Satyam is considered, then ...

Cases of fraud usually take place in both huge firms as well as small firms, and in this case, we will focus on Mamtek, which was a small firm. There are various reasons that usually led to cases of fraud in the various firms. Most of the fraud cases usually involve manipulating the various stakeholders for personal gain. Such decisions to commit fraud are usually for personal gains or to achieve performance within short durations rather than following the right procedures which would bring positive results in the long run. Mamtek was a Hong Kong based manufacturing firm that ...

Internal control techniques

In the management of firms, internal controls suffice for purposes of ensuring efficiencies and effectiveness in the execution of managerial duties. Internal controls could be employed to ensure that the accounting policies and financial reporting standards are complied with. Internal control refers to the framework that the management employs for the smooth running of the company. It should be noted that such controls emanate internally within the firm. The paper briefly discusses some internal control techniques employed by management regarding financial reporting. The objective is to ensure financial reporting is precise, accurate and provides a true and fair representation of ...

Small businesses are more vulnerable to the commission of fraud than any other type of business. This calls for the need for any small business owner to understand and implement control measures that reduce the possibility of the perpetration of fraud. In order to lessen or even reduce the opportunity and the motivation to commit fraud, a strong internal control should be implemented after due consideration.
1. The first concerns relating to the possible commission of fraud is the fact that Mr. Franklin planned to left the handling of cash to that of the husband and wife. While there is ...

Company and situation

According to Biegelman and Bartow (2012), WorldCom Group began in 1983 following the breakup of AT&T. It began as Long Distance Discount Services (LDDS) offering telecommunication services to local retail and commercial customers in the Southern States where the two major telecommunication companies – Sprint and MCI had little presence. The company grew by acquiring other companies and in 1993 it was declared the fourth largest long distance carrier in the US (Biegelman & Bartow, 2012). It was officially renamed WorldCom in 1995 and continued a period of great acquisitions of more than 60 companies. However, between 1999 and 2002, the ...

Introduction

With the phenomenal growth of the Internet witnessed today, the greatest concern for the modern user is the security of their private data. Computers all over the world have interconnected to form a global network of personal, institutional, business, and corporate systems sharing massive amounts of data. The Internet has provided a platform for sharing personal, financial, medical, and many other forms of very important private data.
The users transmit this data from one computer to the other through the public telecommunication links and systems such as telecommunications. This is where serious danger in terms of data theft, exposure of ...

Fraud is a common problem in the contemporary legal landscape. Most evident after the fact, it is one of the primary causes of the 2007-2008 financial crisis, sending the country into a recession not seen before since the Great Depression. And yet, there are regulations and regulatory bodies in place that are tasked with eliminating the practice of fraud in the financial sector. In particular, the Securities and Exchange Commission is tasked with the prosecution and enforcement of suits against fraudulent traders. The present case is fertile ground for discussion in this regard, dealing directly with the phenomenon of insider trading ...

1. Introduction
The Enron collapse, occurred in October 2001, consequently caused the bankruptcy of the whole Enron Corporation, the world’s leading energy, commodities and services company, as well as the dissolution of Arthur Andersen, which was one of the top five largest audit and accountancy firms in the world. Noteworthy it was not only the largest bankruptcy proceeding in American history at that time, but also the most serious audit failure, so that one says, “Enron is fraud and fraud is Enron”. The rise of Enron was almost as fast as its failure. Actually, it was an ...

Immigration Enforcement

Immigration Enforcement

Arguably, enforcement of immigration regulations and laws has and remains to be an overwhelming task in the context of the United States. This culminates from various factors that have and continue to jeopardize immigration enforcement. One of the primary issues that jeopardize immigration enforcement is the skewed immigration enforcement on the U.S. borders rather than in the whole United States context. Precisely, immigration enforcement has often been focused on the borders at the expense of the interior contexts of the United States. This is evident by more resources in terms of hours and staff that are allotted ...

Introduction

For an action to be tried under the false claim act, it must have some form of intents. In most cases, honest billing mistakes are not considered as fraud under the false claim act. For a healthcare provider to receive reimbursement, a physician must authorize all the services provided. It is imperative that the provider administers healthcare to the patient in the presence of an authorized physician. Any action outside the provisions of this can be tried in the court of law for payment under mistake fact, the false claim including fraud (Krause, 2015).

Issue

The eminent issue presented in ...

<<Name>>
<<Professor Name>>
<<Subject>>
<<Date>>

Research Findings. The phenomenal rise and downfall of WorldCom will go down in history as one of the most turbulent times witnessed in corporate America. The issues related to WorldCom, brought to light many ethical dilemmas, which professionals in the Accounting and Internal Audit functions face, in their working life. The internal auditing function is an activity which helps an organization, by improving its operations and achieves that by implementing systematic processes and a disciplined approach to risk management, control and governance. ...

Certain theories explain the causes, nature, and extent of crime; for example, the theory of rational choice explains that individuals commit crime to fulfill their pleasures (Reynald, 2011, p. 23). According to this theory, individuals choose to do wrong if it results to rewards and fun rather than pain. The theory of trait argues that individuals are born with certain characteristics that make them engage in criminal activities. The social structure hypothesis argues that the surrounding influences the behavior of people. According to this theory, a person becomes a criminal if he or she lives with criminals (Walker, 2011, p.59). The ...

Question One

I searched for a car, automobiles and motorcycles by category, from Germany Gold Supplier. After analyzing all the available options I landed on a Mercedes Benz ML 500 used car from Danimex GmbH, a verified Supplier. I was able to compare the car with other cars from other sellers.
The process provides an instant access to various products from various companies enabling comparison for best terms of sale. It is also easy to compare the prices and choose a potential value depending on your affordability. The website also provides a mechanism of contacting the seller for negotiations.

Question Two

Online sites like Alibaba provide a wide ...

Introduction

TSU has managed to build a business name in the industry in the past few years and has managed to maintain the name and increase the turnover due to the collective duty of each employee in the workplace. Hence, the success of the firm relies on the activities and actions of the employees as well as how they handle their duties and responsibility and ability to work together as a team. Despite the success of the firm, there exist potential areas that the employees can work together and steal from their employers. These are the areas that fraud could ...

Business with online customers and intellectual properties are using cyber forensic investigators to deal with electronic crimes and employee’s wrongdoing. PayPal scam is one of the cyber crimes that required the knowledge of forensic scientists. Database and Internet investigators played a tremendous role in discovering credit card thieves. PayPal merchants reported being redirected to mock PayPal site. Forensic investigators discovered that the PayPal accounts were opened using the same IP address. The team used Sam Spade, trace route, and freeware network discovery to investigate the matter. Based on the investigation, there is evidence that could be used in ...

If Lee had not been seen taking employees out in a limousine, how else could she have been caught?

If Lee had not been seen taking employees out in a limousine, she would have been caught by the audit of balances. Verification of claims through external sources could easily lead to the detection of fraud in this case. Furthermore, mailing addresses of three doctors were same which could have created the suspicion for the auditor. The investigation of these mailing addresses would lead to Martha’s husband's address from where she could have easily be caught after further investigations.
The auditor should investigate the details of doctors to whom the claims were paid by the company. It could ...

Introduction:

According to a brief analysis, the rising issues of digital crime and digital terrorism requires training of law enforcement workers. In current situation, the law enforcement is not talented enough to handle the cases of digital crime and terrorism. There is no doubt in the fact that world is getting digitized every coming day so the knowledge of this world is mandatory in order to solve its issues. Following are eight forecasts which have been formulated after collecting data and analysis in many different situations.

Forecast 1:

Technology is changing rapidly and so are the ways to digital crime and terrorism. This ...

Identity theft is a crime characterized by wrong acquisition and use of another person’s data in a deceptive and fraudulent manner for economic or other purposes. The World Wide Web has made it possible to obtain another person’s data and use in a fraudulent manner without his consent. Unlike fingerprints which are unique for each and every person, personal data especially social security numbers, bank account numbers, telephone calling card numbers and other information if they fall in the wrong hands, they may be used for the wrong reasons and cause considerable damage. In the United States for instance, a lot ...

Why is white collar crime still prevalent?

White collar crimes refer to crimes that are financially motivated, as well as diplomatic crimes, which are committed for unlawful monetary gain (Israel, 2009). Several experts who carry out white collar crimes are never exposed. The individuals that get caught can face federal or state charges plus felony penalties (Kelly, 2002). White collar crimes are still prevalent in the United States since ordinary white collar cases are still prevalent in the country.

These cases include: bribery, fraud, stock manipulation, securities fraud, embezzlement, computer fraud, Medicaid fraud, extortion, hedge fund fraud, as well as a mortgage broker fraud among others. The ...

Topic: Business Law

1. Explain how this scenario relates to an area of law taught in Introduction to Business Law. (2 marks)
Introduction to business law is a phenomenon that aids business mangers and everyone within the business environment to be aware of the legal environment that the business operates in. C & A engages an internal auditor to carry out auditing of their financial books of accounts and through intimidation, Julia who has been engaged as the internal auditor caries out the task negligently and later an external auditor is engaged to check on the correctness of the financial books. Fortunately or ...

There were several main red flags that were ignored or handled leniently by E&Y auditors in the audit of Health South. The most important were materiality in ledgers of fixed assets that were adjusted by including false entries and fictitious assets that did not appear in real. Another red flag related to the reality was noticed and ignored by the auditors that company’s officials were interested in increasing the share price of HealthSouth in the stock market anyhow. There should have been awareness of the fact that was avoided by auditors was an unusual increase in the net ...

Company and Situation

According to Cadieux (2010) the worst recession since the 1930s started at the end of 2007 and was at its peak by the fall of 2008. Several businesses were shattered are some were facing serious economic challenges because of the financial crisis. Government offered various bailed out packages to save financial institutions from huge loss. The packages were offered by providing loans, equity, and guarantees. Goldman Sachs was one of the companies that suffered a great loss. Goldman Sachs is an American financial institution that provides financial services to its clients globally. Goldman Sachs took part in cheap credit ...

Introduction

Digital or cybercrimes are defined as crimes where a computer or network is: a target of the crime; is a tool used to commit a crime or an incidental aspect of the crime. Although digital crimes are a relatively new entrant onto the criminal landscape, according to Department of Justice’s Criminal Division, they are quickly becoming one of the most significant developments in crime with an estimated cost to the global economy of US$ 500 billion per year (Egan, 2013). As the definition makes clear, digital crimes can include a wide range of activities and victims. However, according to a number of experts in cybersecurity, ...

Enron

Executive Summary
Introduction
Accounting and Finance are two important things from the standpoint of an organization and both of these concepts found exceptionally wonderful as far as operating an organization is concerned (Warren, p.119). Organizations usually have number of departments under one roof and every department is held responsible to play its part for the economic prosperity of the company. Accounting is the name of recording and interpreting the day to day transaction of an organization, while finance is the name of utilizing the funds of a company at an appropriate place from where the likelihood of earning ...

Re:

Introduction

In 2000, the Chief Executive Officer (CEO) of Qwest, Joseph Nacchio, was charged civil and criminal liabilities after it has been found that he violated the provisions of GAAP against fraud and insider trading. He was sentenced to six years in prison in 2007 and was slapped with a $19 Million fine and a forfeiture order for proven illegal stock sales transactions worth $52 Million. In this memo, the author discusses the different aspects of Qwest’s case, emphasizing the role of GAAP and the PCAOB.

The Generally Accepted Accounting Principles (GAAP) refers to a standard framework of ...

Q1a. From the information contained in the case study above, conduct an analysis of Tesco’s external environment using the STEEPLE model. Your analysis should cover and identify each of the factors as they relate to the case study. (16 marks)

The external environment of a business can be evaluated using a STEEPLE model, which incorporates seven external factors; sociological, technological, economic, environmental, political, legal and ethical (Block 1, Reading 5, p. 34). Here is a brief analysis of Tesco according to the STEEPLE model;

Sociological factors

The variety of business in the UK and across the world is going through ...

Background

Enron case study dwells upon one of the most known scandals in business ethics and financial world. Founded in 1985 as a result of the merger between Houston Natural Gas and Internorth, Enron Corporation starts trading natural gas commodities in 1989. Throughout the 90s,the company was considered one of the most innovative and attractive for investment companies in the country. Renown for its unique business model and trading businesses, the company benefitted from a positive image, shareholder trust and external financing (Li, 2010). With a number of changes in leadership from Jeffrey Skilling to Kenneth Lay, who occupied ...

Circle Centre Development Company v. Y/G Indiana, L.P., 762 N.E.2d 176 (Ind. Ct. App. 2002)

Circle Centre (P) and Y/G (D) entered a commercial lease agreement in October 1996. Circle Centre agreed to lease Y/G retail space in Circle Centre Mall. A provision in the signed lease agreement stated that the Y/G, as the tenant, did not rely upon any inducements or representations on Circle Centre’s part other than those contained expressly in the lease agreement. In January 2000, Circle Centre sued to recover $30,000 in unpaid rent against Y/G. Y/G filed a counterclaim, alleging that Circle ...

Compare and contrast two legal cases

Liebeck v. McDonald's Restaurants
The first fact, in this case, is that the coffee that was served at McDonalds had a temperature that was between 180 and 190 degrees Fahrenheit. For a long time, the company had known that they had been serving coffee that was twenty to thirty-degree hotter than the coffee that was served in other restaurants. In the previous ten years, the company had been sued over 700 times, but McDonalds had not taken the necessary steps to lower the temperature of the coffee that they served.
The second fact, in this case, was that the ...

Enron Corporation, a company founded in 1985 and grew rapidly, gained wide media coverage as it hit a share price of $US90.75 in 2000. The company spread its business to various sectors over its short course of growth. The growth was attributed to its former CEOs Kenneth Lay and Jaffrey Skilling. However, the real picture was different, for Skilling and his team through their unethical accounting practices had been cheating Enron’s investors. They kept the firm’s huge debt hidden with intent to maintain the reputation of the company. Skilling and his colleagues verbally attacked the industry analysts ...

Terrorism

Forecast 1: The number of offenses reported to the police involving computers and electronic storage media will continue to increase substantially, requiring changing priorities for resource allocation, new training for line officers and investigators, new police specialties, and new knowledge for prosecuting attorneys and judges.
Electronic devices that store data are becoming varied and easily accessible. All of them are potential goldmine for investigators. At the same time their storage capacity is increasing; their size is getting smaller; and their prices plummeting. Against this background, modern criminal are using these devices in ways which are unfamiliar to investigators ...

Introduction

R. Allen Stanford, through the Stanford Financial Group, was involved in a financial scam in which investors lost an estimated $ 7.2 billion. This was through a massive ponzi scheme in which the Stanford financial Group offered investors a return on their investments which was higher than market rates. The investors were misled into believing that their investments were made conservatively.
Fraud was committed through the issue of certificates of deposit to investors through the Antiguan bank which was a subsidiary of the Stanford Financial Group. These certificates of deposit sold to investors were later discovered to be bogus.

Claims against Stanford’s auditors

Stanford’s auditors, BDO ...

The Methods of payments have moved from gold coins to cash to cheque to smart cards and E-payments. But still all methods have importance and existence, although some methods are not widely used and the ratio is changing every year. Statics show that even today in US nearly 50% of transitions are paper based payments while in 2003 it was 61% and in 1990 it was 81%. Technology is mainly reason behind rapid decreasing trends of paper payments. Technology has made possible for us to access our funds 24 hours and made E-payments 24 hours. Electronic payments were first ...

Introduction

Electronic commerce involves buying and selling of products over electronic systems. The electronic systems which offer the channel for trading electronically include the internet and other computer networks. Electronic trading has risen in the recent past greatly. Electronic commerce goes hand in hand with the following innovations; electronic funds transfer, supply chain management, internet marketing, online transaction processing, electronic data interchange, inventory management and the automated data collection systems. The process of trading is done electronically for virtual contents but physical transportation of the items is also involved at some point of trade. (Sandy, 1998)

Risks associated with implementing the electronic commerce

There are several types ...

Introduction

The main issues with Parmalat include the ineffective audit planning process and risk management. The company was involved in the fraud and misrepresentation of the financial statements. In addition, due to ineffective audits the company had to face severe consequences at the end. There is a need to implement effective audit strategies and risk management process.

It is important for the auditors to confirm cash balances with the financial institutions that are used in the cash reconciliation of the company like Parmalat. By using standard from confirmation, the auditor requests financial institutions to confirm by examining their records about ...

How RFID technology is developed, adopted, and implemented?

Development
The development of RFID technologies has its origins in the 19th-century discoveries of electronic inductance and electromagnetism. Detection systems such as RADAR (Radio Detection and Ranging) were precursors to the RFID technology. The paper about the technology behind RFID was presented in 1948. Radio Frequency was used in the IFF (Identify Friend or Foe) systems deployed by the British in World War II.
Electronic Article Surveillance (EAS) to detect removal of articles without purchasing is in use since the 1960s. The UPC (Universal Product Code, which is a barcode) is the first passive auto-identification system. RFID is an ...

<Full Name>
<Instructor’s Name>
<Course Name & Code>

a)
i) SCON 6 defines ‘assets’ as those economic resources which are acquired by an entity through events or transactions done in the past. These resources certainly have future economic benefits and are under the control of the entity which uses them.
SCON 6 defines ‘expenses’ as cash outflows which are incurred due to the operating activities of an entity. These activities are the day-to- day operations which run an enterprise. Expenses are incurred when assets are used up or when liabilities are generated.
ii) Costs should be ...

Discussion Board

Computer crimes can be categorized into four basic categories namely: Theft. Fraud, Copyright and attacks on individuals and organizations. These groups are discussed below.

Theft

This refers to the unauthorized removal of data and information as well as unauthorized copying of information. This may happen to the computer, devices or even laptops and the prize is the loss of information such as passwords for corporate systems.

Fraud

This is a kind of crime that ranges from credit card offer usually used to capture personal information, to others known as investor postings which lure one to key in personal information, medical or ...

Corporate Social Responsibilities and Ethics

The concept of (CSRs) means that companies, organizations and/or societies have both societal and ethical responsibilities stretching beyond their existing economic responsibilities (Tuan, 2012). It requires these organizations to elaborate how they understand their responsibilities in efforts to including other stakeholders like customers, employees, local communities, customers, state governments, suppliers, international organizations among others. CSR stresses the need for organizations to behave like good corporate members of the society or citizens, by not only complying with laws and policies but also conducting their activities in ways protect the environment and other resources. Ethics may be seen as the fundamental ...

The contract entered by the 17-year-old son, who is a minor with Don is voidable. The contract can be invalidated on the ground that the contract of sale that was entered between him and Don can be annulled since the son is only a minor and he was not the designated representative of the company. Hence, once the contract is nullified, the effect is that it is as if there is no agreement at all. This is due to the fact that the minor cannot represent the company since there is no board resolution to empower him to enter the contract.

...

Lehman Brothers Holdings Inc. was ranked as the fourth largest bank in the US before it declared bankruptcy in 2008. The company was dealing in investment banking, equity and fixed income-income sales and trading, research, investment management, private equity, and private banking. A significant number of clients withdrew their accounts from Lehman Brothers and the share price of the stocks fell at an exponential rate. Consequently, on September 15, 2008 the company filed for bankruptcy under Chapter 11. Lehman Brothers played a major role in the recession of the late 2000’s which drastically affected the entire country. The company ...

Madoff

Madoff was an American who was found guilty of fraud. He was in charge of a Ponzi scheme in the United States. The scheme is known to be one of the biggest financial fraud that ever happened in the United States of America. Madoff through his firm, Madoff Investment Securities, which bypassed other firms through making orders directly over the counter by making use of its retail brokers.
Those that assisted him in the fraud crimes included his close relations who he employed at his firm, Madoff Investment securities. He employed his brother and two sons as well as ...

Grave industry is a corporation that was founded in the year 1920s to participate in the manufacturing of hardware and tooling. The corporation converted to a public company in 1926 and listed its stake in the New York stock Exchange. The company grew with its revenue rising to $41.5 million by the year 1945. By 1981, the company had expanded to the extent of separating its structure into producing and selling tools and hardware to hardware distribution chain. By 1963, the management had resolved to expand its activities into marine hardware production through acquisition of Lohnes Marine Hardware company. Under the ...

In the recent years, the improvement of the technology has enhanced the banking sector especially use of the mobile services. It has made the banking services easier and convenient. The demand for the mobile deposit is high depending on the level of technology advances. Banks and bankers have embraced the service as it has boosted investment. It gives investors a chance to deposit the check as they are supposed to take a photo of the check both sides and send to their banks.
Mobile banking has faced a number of risks that include regulatory, loss and fraud. To start with are ...

Executive Summary

One Tel Communications was the fourth largest telecommunications company in Australia. It touches on matters regarding poor management, fraudulent misstatements, the use of remuneration packages for self-interest and lack of regard of accounting policies and legal regulations. These, together with other factors, have led the company to liquidation in 2001.
This report summarizes the key facts from the start of the company business, its capital structure, the people involved in the accounting scandal, the auditing scenario, factors that contributed to the business failure, the audit risks existing at that time, to the conclusion and possible audit procedures that ...

Main issue

In 1994, there were ten major U.S. Airlines, and Continental ranked tenth in on-time performance, mishandled baggage, customer complaints, and denied boarding because of overbooking (Brown, et al 284). It had filed for Chapter 11 bankruptcy protection twice in the previous ten years and was heading for a third, and likely final, bankruptcy.

Why occurred

The airline lacked the corporate data infrastructure for employees access the information if need arose. Historically, Continental had outsourced its operational systems (e.g., reservations, payroll, and billing) to EDS, and employees have very limited access to data from these systems (Brown, et al 284). Data was locked ...

Risks in E-commerce at a Children’s Charity

Introducing an electronic stock control system in a children’s charity store is a positive and cost effective measure in any organization. With the enterprise depending on volunteer services, there is a need of controlling the stock in the company to guard against overstocking that leads to a high scrapping rate and under stocking that leading to losses in revenue (Kovacs et al., 2011). The major risk faced by the charity is that of increased expenses in running the system at the expense of re-stocking. Apart from the high initial cost of setting up the computerised system, there is a high cost involved payment ...

1. Are subprime loans an unethical financial instrument, or are they ethical but misused in a way that created ethical issues?

Subprime loans are not considered to be an unethical financial instrument. However, their misuse results in both ethical and legal issues. Original goal of subprime lending is helping borrowers with low credit ratings or those who cannot maintain their repayment schedule to receive loans at a rate above prime loans.

Subprime loans appeared in 1970s, when social activists mobilized President Administration and U.S. Congress to deal with social injustices in home ownership, and provide loan opportunities to people from low-income neighborhoods (Eastburn 14). Since then lenders could charge higher rates to this kind of borrowers due to added risk, and ...

Introduction

Technology has taken most of the sections in the world and brought new developments. The financial sector has embraced the change and used it to improve all the operations. Information and technology advancements have improved the banking system which ensures customer satisfaction, makes easy the operations of the workers and the financial industry is able to improve. As time moves on, more improved methods are being discovered, which the financial industry can adopt to help improve their operations. With the improved functioning, clients can be able to manage their investments and savings thus resulting in value addition (World Bank., & ...

COLEEN COLOMBO AND COLLEAGUES RESIST MORTGAGE FRAUD

SYNOPSIS
The year 2004 had impacted the life of US citizens in various ways. It provided opportunities for the citizens to be the homeowners. The case study is based on that time period. Coleen Colombo was one of the employees of BNC in the California Branch. Coleen was a senior underwriter in the company since 2003. The branch performed several duties related to providing loans to the clients and as an employee of the company Coleen did an outstanding job in her position. However, the thing ended up with some unexpected outcome and provocation suit was recorded in the ...

KPMG was investigated from 2001 onwards by the IRS because the company failed to properly regulate and monitor the use of tax havens. Complex accounting and auditing schemes challenged the company’s corporate governance and ethics. The professional code of conduct of all the staff and partners were often overlooked for business that was capitalist and maximised profit at the expense of the reputation and integrity of KPMG. The new chairman of the company faced a difficult ethical dilemma and created alternatives that would result in the best action to save the company and to minimise the consequences for ...

Facts of the Case

Fraud can be defined as an act or practice that is wrongful or criminal in nature with the intention of making unlawful gains. In this case, Aaron Beam, a certified public accountant, was engaged in the illegal alterations of the financial statements. Mr. Beam and his friend, Richard Scrushy both started a healthcare company known as Health South. Mr. Scrushy would then act as the CEO while Mr. Beam would act as the CFO. Mr. Scrushy persuaded Beam to do whatever it takes to make sure that the financial reports that he prepared for the company looked good in ...

Community bank is an independent, small and locally-owned commercial bank, which operates and obtains its funds solely from the community, where it is based.
Community banks focus on providing traditional banking, derive deposits locally and mostly make loans to local businesses. It is widely known that today community banks provide most of the loans to our nation's small businesses and are an important financial resource to small cities. Because of that and because of the fact that they have knowledge of their local community and their customers, they are called “relationship” banks. They base their credit and loan decisions ...

Acknowledgements

The research was supported by [name of foundation] who provided the information on the company present and past. I would like to thank [name] for assistance with the information, sharing and evaluation the process of strategy building, sharing the ideas about the built strategy and telling what was done before to develop the company.
I would also like to show my gratitude to [name] who gave some precious comments about the work of the company that helped to process the research and work out some ideas of improvement.

Approval Sheet

Executive Summary
The case study of the Golden Horizon Placement Agency ...

The Table

Cover page.
Abstract
History
Contradictions
Opinion
Policy Recommendation
References
Abstract
Corruption is a social, political, and economic vice that causes economic problems due to mismanagement of public resources (Girling, 2002, p.81). Corruption in Venezuela rates among the highest standards in the world due to its prevalence in the society. The country ranks among the top 20 most corrupt nations in the world; it is position eight in the ranking. Seventy-five percent of the Venezuelans believe that corruption is widespread in the government hence difficult to eliminate. Protests witnessed in 2014 cited corruption as the main reason for their discontentment ...

Abstract

The question on the moral issues surrounding companies and their decision makers has been there for a long time. This has become even more critical given companies’ ever-increasing urge to outdo their competitors. It has consequently, led to the development of decision-making models that incorporate ethical values to describe processes that decision makers should follow when dealing with issues containing ethical dimensions. That, therefore, creates and maintains a corporate culture that is ethics-oriented. Many problems and solutions have been attributed to the corporate practices that constitute an organization’s culture. That definitely makes it an important determinant of the ...

Indeed, the largest economic crisis of all time is still on the horizon. From the documentary, it is evident how we got into a financial crisis and still our ways of dealing with the problem today clearly sets the stage for the next financial crisis which will come not as a surprise but as a big blow to the world. The Government debts are on the rise each day in an attempt to cover up for the unpreceded crisis but, who will pay for these debts. Our children will be the bearers and will face the wrath when the ...

Introduction

In his case, Ferrell (2012) discusses Enron Corporation from when it was formed, when it collapsed and all that followed after its collapse. Enron Corporation is an American company headquartered in Houston, Texas. This company was formed in the year 1985 through the merging of two gas pipeline companies. Enron Corporation deals in products and services such as natural gas, and also electric power generation and distribution. However, in the year 2001 when Ken Lay was the Chief executive officer and at his time of his stepping down, Enron was faced with financial problems which eventually led to its ...

Key metrics focused on

The key metrics used by Jefferson include the quality of the company’s earnings, balance sheet, cash-flows and operating efficiency. With that, Jefferson uses the metrics to rate the company in view of its performance. On the other hand, GMI focuses on the related party transactions, over boarding of the audit committee members and the non-exec directors as well as severance vesting and the asset-liability valuation. In addition, the GMI considers restatements and internal controls as key metrics in their rating. With the metrics, GMI rates the company’s risk in view of the appropriateness of the noted issues.

Recommendation on buy/hold/sell

...