BOC CASE Yimin Tu 1. Using Kimmel et al.’s (2011) principles of control activities (described in Figure 6)‚ identify the internal control weaknesses that contributed to the BOC fraud incident. BOC has no independent internal verification. Bank managers had insider authority to make loans and transfer funds without controls. The former general manager at BOC Kaiping branch made loans and transferred fund to Ever Joint to pull in profits for himself. There is no second person to verify and supervise
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world a new type of thinking came out that focused on rational choice and freewill. Ceasare Baccaria wrote On Crimes and Punishments‚ which focused on punishment as a way of preventing crime versus intervening in someone’s morality. Beccarria and deterrence theory assume that people are not influenced by some higher power but that people make rational choices to commit crime because according to their calculations it will provide the most benefits. These ideas become intertwined and strengthened by
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Crime Deterrence Within the past few years‚ Provincial and federal incarceration rates have slowly but steadily been increasing‚ with actual number of adults being admitted to territorial‚ provincial or federal programs at 211‚970 in 2006‚ and steadily climbing to 262‚067 in 20101‚ with the rising crime rate comes different methods to attempt to combat crime‚ some focus on being more preventative‚ such as community outreach programs that focus on at risk youth or children who live in priority neighborhoods
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Managing Peace and Security Deterrence and Diplomacy Causes of conflict among countries 1. Conflict over territory/border Countries try to take over land/territories which do not belong to them. India inherited border drawn by the British when they gained independence - China protested that it did not agree Difficult to draw a border due to Himalayan Mountains. China began to protest against India’s claim on border. China further went on to build a road on the Akai Chin Plateau - India
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will be deterrence. What deterrence means that it is the attempt to discourage criminality through the use of punishment. (Macionis‚ 2006) one example of deterrence is that you know the outcome of the punishment before you decide to break any sort of law. It is believe that this concept was based on the thought that citizens will not break the law if they think that the pain of the punishment will outweigh the pleasure of the crime. (Macionis‚ 2006) one example that I thought of for deterrence was that
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eBARING BANKS THE MOST SHOCKING ALARM BELL ABOUT FRAUDULENT Introduction On February 26‚ 1995‚ the oldest British Bank’s declared bankruptcy due to fraud caused the warning bells for many other organizations about the level of danger fraud can cause. Nick Lesson‚ a guy who comes from a background of the working class‚ had been working for Royal Bank Coutts‚ Morgan Stanley for a couple of years until he finally joined the Barings. He was assigned a job in Barings (Jakarta) to sort
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B1 – Ethics‚ fraud and internal control at Bern Fly Company The main purpose that a good internal control must fulfil is to protect the firm’s assets from fraud and theft. As we can see from the description of Bern Fly Company’s case‚ the internal control within the company leaves much to be desired. As it can be read in the case the salespersons get commission promptly after each order taken by their customers without any control to check if that order is real or only a fictitious one. This
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Issues In Auditing and Professional Practice ASSIGNMENT QUESTIONS The questions in this assignment are extracted from the text book for this paper; Reference: Johnson‚ R. (ed)‚ Readings in Auditing Volume 2‚ John Wiley & Sons Australia‚ 2007. Answer the following 4 questions: Question 1: (Chapter 10 “Australian Wheat Board”‚ p135 Question 4) Discuss the lessons to be learnt from the AWB scandal. Question 2: (Chapter 12 “Fraud prevention and detection- further guidance”‚ p158 Question 3)
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AC572 You Decide Jan. 24‚ 2011 When evaluating this case using the three elements of the fraud triangle I have concluded that the potential pressures for Chris to commit fraud are greater than for others. The pressure is from Chris himself because he wants what others have or what he doesn’t have. This is due to the fact that Chris is young and impressionable may feel as though he doesn’t make enough money to obtain the material possession he desires or see others with. He may also be of
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In this brief case‚ a long-time and trusted employee of the Los Angeles Dodgers engaged in a large scale payroll fraud to embezzle funds from the organization. Over a period of several years‚ this fraudulent scheme cost the owners of the Dodgers several hundred thousand dollars. Contributing to the success of the fraud was the laxity of the Dodgers’ internal controls. Eventually‚ the fraud was exposed when the individual who masterminded the scheme was hospitalized on an emergency basis and
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