Sealand Securities Co., Ltd.

Decent Essays
Show More
Should Sealand Securities Co., Ltd. be responsible for these entrust holding agreements with 20 more financial institutions that two rogue employees involved with a forged seal? The answer is yes, but Sealand Securities Co., Ltd should not take the whole responsibilities for this case because it is also a victim of its former employees’ unethical actions. According to the statement from department of human resource of Sealand Securities Co., Ltd., Yang Zhang resigned his position on August 1st and Liang Guo’s working contract expired in August. Technically to say, both of them are no longer the company’s employees and their actions were irrelevant with Sealand Securities Co., Ltd. However, if the company had a mature management system

Related Documents

  • Great Essays

    Law 531 Week 2 Servard Business Law Case
    • 1890 Words
    • 8 Pages

    Law 531 Week 2 Servard Business Law Case

    The general rule says, company has approved or endorsed an act or contract that has been done or made except prior authorization. (PRBL Week 5 2015) As Karen and Jones were two legal directors so they were legal authority by law to take decisions. They thought it would be a good expansion opportunity for Delish and took the loan.…

    • 1890 Words
    • 8 Pages
    Great Essays
    Read More
  • Improved Essays

    Xacc/280 Week 1 Midterm Audit Case
    • 774 Words
    • 4 Pages

    Xacc/280 Week 1 Midterm Audit Case

    First, the Accuhealth’s executives clearly departed from a sound operating philosophy of ensuring appropriate accounting reports and protection from fraud loss as well as meeting external shareholders’ expectations. By embezzling cash and overstating inventory, they failed to set an ethical tone at the top for their employees and were sending a clear message to their employees that committing fraud was acceptable and needed not to be taken seriously, therefore creating an entire culture of workplace frauds. Moreover, the company’s control environment was deeply undermined by the employment of several immediate relatives and family members as the company’s top management and board of directors. The close relationships among top executives greatly diminished the independence of the board of directors from management and their abilities to exercise oversight of the development and performance of internal control, which caused ineffective monitoring of internal controls and fostered collision among officers and employees to commit…

    • 774 Words
    • 4 Pages
    Improved Essays
    Read More
  • Great Essays

    Datasil Case Study Solution
    • 1998 Words
    • 8 Pages

    Datasil Case Study Solution

    The management would have also defined tasks so that each employee clearly understood their task in the specific organizational unit in accordance with the role of that unit. It would have also created work policies for direct subordinates of very structured jobs. The Purchasing department, Sales department and Customs & Traffic department would not be confusion pertaining to product information. It appeared they were using wrong duty rates. Having an organization in the definition of tasks would have been of big…

    • 1998 Words
    • 8 Pages
    Great Essays
    Read More
  • Improved Essays

    Trinsic Residential Group Case Study
    • 887 Words
    • 4 Pages

    Trinsic Residential Group Case Study

    Notably, the compensation and benefit packages are strong, however the quality of life aspects of the company are somewhat lacking, with long hours and minimal vacation time. Broadening the flexibility of employee’s time would prevent burnout, leading to happier employees that are more productive and engaged. The company is spread across three states with about forty employees, which makes access to decision makers and a feeling of belonging in satellite offices difficult. As someone who has worked for the company for two and a half years, I have not stepped foot in the corporate office. This corporate structure leaves training solely in the hands of the VPs of the satellite offices, who are often burdened with massive workloads.…

    • 887 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    PCAOB Lawsuit
    • 681 Words
    • 3 Pages

    PCAOB Lawsuit

    (PCAOB Settlement) This company was caught by the PCAOB and did not fix their mistakes the first time. So, after a while the PCAOB followed Suherman &Surja paper trail and figured it all out. If they do not not doing their audit report correctly, then they will end up like ENRON. They found out that the former engagement partner of the Indonesia Company was accountable for audit failure, and not cooperating with the board standards.…

    • 681 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Katie Jordan Payroll Scheme
    • 698 Words
    • 3 Pages

    Katie Jordan Payroll Scheme

    Like most companies that fall victim to fraud, the mangers placed too much trust, in an employee, Jordan’s boss Gil Fleming is no exception. Fleming’s trust in Katie was the opening that paved the way to this crime. In this case poor supervision, and employee documentation provided the opportunity Katie needed. The First measure that could have be incorporated into Aramis’s internal…

    • 698 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Revenge Of The Cube Dweller Summary
    • 821 Words
    • 4 Pages

    Revenge Of The Cube Dweller Summary

    The major excuse, which drives the actions of the fraudsters, is financial strain. The fact that fraud leads to a massive financial gain within a limited period of time provides the needed support for people to engage in such activities. Corporate fraud can be avoided through scheduled internal audits, which monitor the financial activities of a firm aimed at unveiling any unsupported and suspicious activities. Plausibility…

    • 821 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    How To Write A Case Study Wells Fargo
    • 700 Words
    • 3 Pages

    How To Write A Case Study Wells Fargo

    At Wells Fargo, millions of fake customers accounts were created by its employees in order to boost their quarterly reports. Cue an investigation and somewhat 5000 employees are fired. However, before the heroics of Elizabeth Warren, the executive board remained untouched. They continued cashing in the ludicrous paychecks and remained silent against accusations. This clear-cut example uncovers the faults of regulations and exposes the current increasing trend of neglecting the interests and voices of stockholders.…

    • 700 Words
    • 3 Pages
    Improved Essays
    Read More
  • Great Essays

    White-Collar Crime: Wells Fargo: The Consequences Of Concentlar Crime
    • 1195 Words
    • 5 Pages

    White-Collar Crime: Wells Fargo: The Consequences Of Concentlar Crime

    White-collar crime, according to Merriam-Webster, refers to, “a crime that typically involves stealing money from a company and that is done by the people who have important positions in the company”. In modern society, white-collar crime may not be as obvious as violent crime, but its consequences leave major impacts on the world, particularly financially. Beginning in 2002, Wells Fargo began transforming into one of the largest criminal enterprises in history. Over the past 15 years, this powerful bank’s employees have been wrongfully using their customers to make personal gains. Wells Fargo, named the world’s most valuable bank until 2016, committed one of the worst and most infamous white-collar crimes in American history.…

    • 1195 Words
    • 5 Pages
    Great Essays
    Read More
  • Great Essays

    Robert Calloway Case Summary
    • 866 Words
    • 4 Pages

    Robert Calloway Case Summary

    Fact: Vanderbilling Equity Fund buys shares totaling over 10 million and XYZ bank lends HOLO based on the financial reports. Six months later, when the embezzlement and cover-up are revealed, the stock prices of HOLO drop drastically, Vanderbilling Equity Fund and XYZ filed lawsuits. b. Issue: Were Doug, Sam, Tony, PPW, and HOLO liable for this lawsuits? c. Answer: Yes d. Rationale: 1.…

    • 866 Words
    • 4 Pages
    Great Essays
    Read More
  • Improved Essays

    Barclays Scandal
    • 1122 Words
    • 4 Pages

    Barclays Scandal

    Question 1: Who is hurt and who benefits from the manipulation of LIBOR? I would say that the banks are because of the shortage of regulation from the government in partnership with the banks, shoppers and economies globally square measure hurt by the LIBOR scandal. Attributable to the speed manipulation, banks in numerous countries borrowed capital from lenders at rates higher or not up to a number of their competitors. The result was passed on to shoppers in those countries United Nations agency hold accounts or potential accounts with those banks. The shoppers were ready or unable to borrow a lot of or less funding from the banks, which might possible are accustomed open businesses, purchases homes and cars.…

    • 1122 Words
    • 4 Pages
    Improved Essays
    Read More
  • Great Essays

    Healthsouth Scandal Essay
    • 2186 Words
    • 9 Pages

    Healthsouth Scandal Essay

    However, the corporation was caught by selling 75 million dollars in shares a day before the company experienced a huge loss, catching the attention of U.S. Securities and Exchange Commission (SEC) . A company which was known for its ambulatory surgery and rehabilitative health care services throughout the United States fabrics one of the most inconspicuous false impressions known to the corporate world. Carefully using deceptions of the Generally Accepted Accounting Principles (GAAP) such as materiality, conservatism, and reliability, verifiability, and objectivity as well as ethics, the company was able to improve their initial appearance. HealthSouth failing to meet the materiality, conservatism, and reliability, verifiability, and objectivity accounting principles as well as ethic standards meets its fall when the company is caught with conspiracy, security fraud, and money laundering carefully scattered along their financial statements and kept hidden by their dedicated employees. Corrupted management, originated financial statements, and falsified numbers all contributed to the history of HealthSouth’s…

    • 2186 Words
    • 9 Pages
    Great Essays
    Read More
  • Superior Essays

    Business Ethics: Does Business Ethics Exist?
    • 1291 Words
    • 5 Pages

    Business Ethics: Does Business Ethics Exist?

    Fund embezzlement, employee assault, intended false advertising, fraud, are just a few in many unethical practices in the market place since a long time ago. This raises a question: Does business ethics really exists? Of course, does exist given that each one of every company is given an ethical conduct of some sort, and all required to submit Social Responsibilities Report at the end of every year. However, business ethics is different, because it is more twisted in the market place. It is usually not taken very seriously and even sometimes changed to fit certain situations, such as it is not “right” for the employee to go around and talk about how his or her CEOs or coworkers are cheating with accounts.…

    • 1291 Words
    • 5 Pages
    Superior Essays
    Read More
  • Improved Essays

    What Are Some Ethical Dilemmas In Financial Accounting
    • 1208 Words
    • 5 Pages

    What Are Some Ethical Dilemmas In Financial Accounting

    Case 11.1: Accounting/Finance Ethics Scenarios Main Ethical Issue(s) Financial professionals are often confronted with fiduciary issues which challenge their integrity, honesty, and ability to be transparent with stockholders and customers. They may be pressured to make decisions or participate in accounting practices that are clearly against company policy, financial or accounting rules, regulations, and code of ethics. In all three scenarios, employees are asked to make such decisions. Concepts and Theories Relevant to Case Economics and the bottom line are often the driving force behind decisions that are made within the organization.…

    • 1208 Words
    • 5 Pages
    Improved Essays
    Read More
  • Improved Essays

    Importance Of Unity Of Direction In Organisation
    • 714 Words
    • 3 Pages

    Importance Of Unity Of Direction In Organisation

    In fact, Organization should give more benefits to their employees depend up on their hard work and effort. The work authority or principals of the organization should be kept in the top level management people only otherwise it leads to miss usage of the authority to make their decisions in the organization. It leads to impatience, improper decisions, centralization of…

    • 714 Words
    • 3 Pages
    Improved Essays
    Read More

Related Topics

Ready To Get Started?
Discover
Company
Follow
©2024 Cram.com
Privacy Policy |  About Ads |  Site Map |  Advertise  | 
  • Cookie Settings