Committee of Sponsoring Organizations of the Treadway Commission

Drake Unlimited, LLC (DU) seeks to minimize risk of fraud and misconduct in the organization. Establishing an effective “tone at the top” is key to achieving optimal performance and integrity of financial reporting. The behaviors and actions of management illustrate the organization’s tolerance of deviant conduct. Thus, management is responsible for setting the appropriate example for the organization. This memo describes the importance of demonstrating ethical values and a culture of integrity within the organization, three proposed strategies to promote the values and ethics at DU, and the merits of each. “Tone at the Top” Overview Setting the right “tone at the top” of an organization is essential to improve the effectiveness of internal…

and procedures provide the framework within which your company operates. Unfortunately far too many organizations "don 't know what they…

Characteristics and skills of forensic accountant. Retrieved from http://www.aicpa.org/InterestAreas/ForensicAndValuation/Resources/PractAidsGuidance/DownloadableDocuments/ForensicAccountingResearchWhitePaper.pdf Abbasi, A., Albrecht, C., Vance, A., & Hansen J. (2012). Metafraud: A meta-learning framework for detecting financial fraud. MIS Quarterly, 36(4), 1293-1327. Retrieved from www.library.franklin.edu Albrecht, W. S., & Hoopes, J. L. (2014). Why audits cannot detect all fraud. CPA Journal,…

Every organization has their own set of rules, guidelines, values, and procedure on how they want to manage their business. However, organizations question the importance of ethical coding. Are they beneficial to the corporation? Can they help raise and bring in profits? Or does it have the potential to cause risk to the corporation? This topic has been very controversial for many businesses. Eric Krell believes building true corporate ethics is achievable as long as the organization…

the leaders and non-leaders of the accounting firms. The firm’s ethical norms directly influence the behavior of its members. The researchers indicated that it is important to identify and understand the factors that affect ethical norms in the organization (p. 125). The firm’s leaders should play a meaningful role in building and supporting the ethical environment. It is essential to analyze motives of perceptions’ inconsistencies in of the ethical setting between the management, partners, and…

Reductions PPC is a small public plastics manufacturing organization which. The organization first became a publicly listed organization three years ago, and has experienced a large impact of the recent recession. The organization has taken several steps within the past year to reduce costs. The question has arisen as to whether said cost reduction actions are an operation issue or a control deficiency, of if said cost reductions are a material weakness or a significant deficiency in the…

their operations and their cash flows for each of the three years in the period ended in June 27, 2015, in conformity with accounting principles generally accepted in the United States of America. Also, in our opinion, such financial statements schedule, when considered in relation to basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein. We have also audited, in accordance with the standards of the Public Company…

is published in the annual report. The following excerpt from the Competition Bikes, Inc. year end report indicates no material weaknesses existed. “The management of Competition Bikes, Inc. is responsible for establishing and maintaining adequate internal control over financial reporting. Competition Bikes, Inc. internal control system was designed to provide reasonable assurance to the company’s management and board of directors regarding the preparation and fair presentation of published…

Competition Bikes Western Governors University Financial Analysis (NAME) (DATE) A1. This financial analysis is for Competition Bikes that was taken from balance sheets and income statements from years 6, 7 & 8. A1a. Horizontal Analysis Strengths Net Sales – totaled $4,485,000.00 for year 6, and grew +33.3% or $1,495,000.00 between years 6 to 7. Cost of Goods Sold – totaled $3,294,000.00 for year 6, and from…

the 21st century, with the development of the information technology and the change of competitive environment, the risks of enterprises has become increasingly complex and changeable. Risk management has become a very important task of enterprise operation. In the process of the development of risk management, it needs a guide to lead enterprises grow up sustainably. Therefore, establishing risk management frame work becomes an inevitable trend. In 2004, COSO issued the enterprise risk…