Sarbanes-Oxley Act Relates to Internal Control” Accounting 1 November 2011 Writing Assignment-How The Sarbanes-Oxley Act Relates to Internal Control. In attempting to explain the Sarbanes-Oxley Act (SOX) and how it relates to the accounting concepts of control‚ some brief information is necessary to provide background on why it was enacted in 2002. Questions answered are why SOX was enacted‚ who passed this Act and why was it needed‚ what is internal control‚ how SOX Provisions and Requirements
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Insurance Fraud A gang of Russian crooks ran a record-setting‚ $279 million fraud that exploited New York’s “no-fault” auto –accident law‚ authorities said 2/29/12. The gang worked with corrupt doctors to set up more than 100 phony medical clinics across the city. There‚ they generated fake bills for the treatment of “injuries” that “ranged from wild exaggerations to outright fabrications‚” Manhattan US Attorney Preet Bharara said. The fraudsters took advantage of the “patient-friendly provisions”
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Chapter 2 Discussion Questions 2. People can be motivated to commit fraud because of financial pressures‚ vices‚ or because of work-related pressures. As well‚ perpetrators of fraud can be motivated by a perceived opportunity to commit fraud and the ability to rationalize that what they are doing is not wrong. Their motivations are usually combined into the fraud triangle of perceived pressure‚ perceived opportunity‚ and rationalization. 3. The fraud triangle includes three elements that almost
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Why Benjamin Harrison Was a Good President Benjamin Harrison was the United State’s 23rd President. He did many things that were memorable‚ such as annexing Hawaii. Harrison was born in Ohio during the year 1833. He went to Farmer’s College‚ where he would meet his future wife‚ Catherine Scott. Harrison was a Republican who believed in African American rights. Harrison may have made a few mistakes‚ but he was overall a good President because of his work on the Sherman Silver Purchase Act‚ the Federal
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Amanda Sanchez November 7‚ 2012 English 101; Professor Lehman Essay #3 To fix or not to be fixed I feel as though there are a vast amount of reasons why school uniforms are necessary. School uniforms provide a professional and judgment-free atmosphere in school. Uniforms allow students to avoid the distractions of street clothing and the necessity of constantly changing dress codes to keep up with evolving fashions. Students have plenty of other creative outlets in school‚ such as writing
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It’s All About Attitude “Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.” Thomas Jefferson Many times in life the difference between failure and success is determined by a person’s attitude Having the right mental attitude simply means one is able to go through each of these steps in a calm and rational manner. Each stage is digested and thought out. Too much weight or emphasis on one stage will have
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How the Fraudsters Fool the Auditors History of financial statement frauds acquisition accounting related party transactions non existent bank accounts - relationship with auditors overstated bank balance off balance sheet accounting misleading disclosures Changes occurring from Sarbanes Oxley Higher standards for corporate governance and accountability Creating an independent regulatory framework for the accounting profession Enhancing the quality and transparency of financial reports Developing
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make his major customer happy Pomerantz had to approve significant markdowns in Leslie Fay’s wholesale prices and grant those customers large rebate. In 1993‚ Donald Kenia‚ the company’s controller‚ took full responsibility for a large accounting fraud revealed to the press by John Pomerantz. Leslie Fay’s earnings had been overstated by approximately $80 million from 1990-1992 and about $130 million entries were fake. Upon the investigation of the Audit committee it was found out some audit tricks
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Nguyen Hong Nhung Class: H61111B Student code: L9917997 Rewrite: Why competition is good for everyone. The article by Dr Yi Min Tsai shows the benefits of free trade to Australia. Overall‚ most of her arguments are convincing. However‚ she has some unpersuasive ideas that the trade leads to diversifying choices with lower price‚ creating chances to local producers and perceiving new skills. First of all‚ the author presents an unconvincing idea that free trade agreements lead to
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Chapter 1 Discussion Questions 1. Fraud always involves deception‚ confidence‚ and trickery. The following is one of the most common definitions of fraud: “Fraud is a generic term‚ and embraces all the multifarious means which human ingenuity can devise‚ which are resorted to by one individual‚ to get an advantage over another by false representations. No definite and invariable rule can be laid down as a general proposition in defining fraud‚ as it includes surprise‚ trickery‚ cunning and unfair
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