SUBJECT: Accounting fraud at WorldCom Problem Statement WorldCom penetrated the largest accounting fraud in U.S history by overstating its tax income between 1999 and 2002. The main players in WorldCom’s accounting fraud included CFO Scott Sullivan‚ the General Accounting and Internal Audit departments‚ external auditor Arthur Andersen‚ and the board of directors. While individuals did have their own sins‚ employees cowardice and self-interested‚ the board passive and ineffective‚ external auditors
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A 1. Give an outline of the various views on serving in the army presented in the three texts. Text 1 is about Sarah Palin giving her opinion on why young people in America should be motivated to join the army. Her own son enlisted himself‚ and she uses him as an example. In the text she elaborates on‚ “[…] they are doing much more than defending a piece of land. They are defending the idea of America itself”. Text 2 is about Ryan Kahlor. Today‚ the two combat tours in Iraq defines who
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The Fraud of Digi Corporation For Fraud Examination The Fraud of Digi Corporation Suramanian Krishnan‚ better known as Kris Krishnan was once the CFO of Digi Corporation based in Plymouth‚ Minnesota. He was a graduate of Bangalore University who further studied at Minnesota State University and finished up at the Wharton School of Finance. His career began back in 1979 at Hansen Company as a CPA‚ and he soon moved though several positions as an International tax manager at Eco Lab and
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Running Head: ELDER ABUSE Abusing the Elderly: Consequences and its Victims ELDER ABUSE Abstract Elderly abuse happens in the United States every day and it is an unforgivable crime. The elderly cannot take proper care of themselves and need someone else to care for them with basic necessities such as shelter‚ water and food. Sometimes this is not the case and the elderly are neglected of these basic needs. That’s not all‚ they are physically hurt‚ bruised and even broken bones can
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In the essay “The Net Is a Waste of Time” by William Gibson‚ he talks about how he is an “avid browser of the World Wide Web.” While people find this to be odd and his wife finds it positively perverse‚ Gibson thinks differently saying “I‚ however‚ scent big changes afoot‚ possibilities that were never quite as manifest in earlier incarnations of the Net” (Gibson 691). While some people think he is wasting his time with the web‚ he believes it will be the tool of the future. Even though the internet
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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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Abstract A fraud is an act of deceiving others for personal gain but is not usually followed by a crime. The symptoms of fraud or the red flags help understand the slight difference between a corporate fraud and a corporate crime. The continual financial frauds leading to corporate collapse and the failure of the statutory audit to detect and prevent fraudulent activities of the perpetrators lead investors and the firms and individuals to suffer. This contributed to the increased need for investigating
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The Varsity team continued to lose against the JV team because the eight members of the Varsity team were not able to synchronize their rowing. As explained in the article‚ one small movement that was not in unison could actually slow the shell down even if all rowers were putting forth their best effort. The article mentioned the research project in which the most experienced and successful coaches felt the most important elements of a victorious crew are mental aspects. Trust seems to be a very
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Case 1.9 ZZZZ Best Company‚ Inc. Delta. Describe the elements of the Fraud Triangle that apply to this case. Assume you are the perpetrator. Is there a better way to perpetrate this fraud? If there is‚ describe your method. Specify practical recommendations for the client to prevent this fraud from occurring in the future. The first element of the Fraud Triangle in the case of ZZZZ Best‚ case 1.9 is Incentives/Pressure. Incentives/Pressure- As a result of the pressure placed on a person who
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your team going to think when they hear over the radio that you are on the way and you are the only one that can help them. They are going to be like what that is the only person we have well we are al good as dead. Accountability does not end in the army life it also goes into civilian world. When you have a job in the civilian world they are looking for someone that can be on time and do the job but the second that you are not on time your accountability starts to go down the drain. The U.S.
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