Electoral fraud

a lot about what was going on during this time. It makes me want to go back and do the research myself to see what happened and what they were talking about. Some major economic events that took place during this period are corporate and financial fraud, terrorist attacks, natural disasters, global recession, stock market crash of 2002, and war. Some examples of the above topics I will be researching for this time period are seen below. In 2001 there was…

Unfair treatment of minority shareholders in family companies and other closely related held corporations by persons in control of those corporations is so widespread that it had become a national business scandal. The amount of litigation growing out of oppression of minority shareholder (fancied, actual or fabricated) has shown growth tremendously in recent few years, and the flood of litigation shows no sign of putting an end to this nuisance. Minority shareholders often are deprived of any…

How did each of your three teammates make an ethical mistake? Explain your thinking Olivia made an ethical mistake by “borrowing” unapproved funds from the business. At my place of employment that is consider breaking code of ethics when you take something from the company without approval especially money. Olivia decision put her team at high risk if they were to be audited. Steve was very unethical because he was pocketing money off of a company’s event. He did not stick to the plans that…

of dollars in underserved bonuses and deceive investors. They were fined for 400 million dollars. Fannie Mae struggled to emerge from an $11 billion accounting scandal.The penalty that was given for them was the largest penalty ever in a accounting fraud case.The company also agreed to limit the growth of its multibillion-dollar mortgage holdings. Fannie Mae never admitted nor denied wrongdoing. What they did agree to was they will not do future violations of security laws. “Our examination…

Explaining Deceptive Acts or Practices The Consumer Financial Protection Bureau (CFPB) continues to use unfair, deceptive, and abusive acts or practices (UDAAP) as its primary enforcement tool. Over the past four years, the CFPB has used UDAAP to enforce hot button issues such as credit card add-on products, credit card advertising, debt collection, credit reporting and monitoring, auto lending, and mortgage servicing. In the coming years, credit unions should expect to see UDAAP being used…

As we have seen lots of bad news in the newspapers, many of the news are relating to the crook and scam. Cheaters are all around the world; have you ever thinks about that you might be the next person who will be cheating by the crooks? Frauds are happening everyday around us and also the percentage of scams are increasing everyday. People who have been cheated by the scalawags would have a harder life, since they give out most of their money. In order to know more about how the people who have…

The auditors could have detected this embezzlement and fraud by performing additional audit procedures for cash and inventory. With respect to cash-skimming scheme, the auditor could investigate further on the “Office” line item of certain cash report sheets by inquiring the company’s personnel and the management. Similarly, the auditor could also use analytical procedures to gain an overall assessment of sales and profitability across individual stores. Because the cash receipt was taken into…

prevented or detected early on. In chapter three of Financial Services Anti-Fraud Risk and Control Workbook, it gives examples of preventative techniques. First, to understand the weakness within an organization it is important to look at the red flags; the red flags can help show the vulnerabilities that a company has via a fraud risk assessment. The textbook mentions standard preventative techniques beginning with Anti- Fraud Policies. Policies are important to implement because the mold the…

PCAOB requires auditors to conduct substantive procedures regardless of the assessed level of control risk (AS2301.36). Although this rule is not applicable to private companies including Theranos, substantive procedures are effective to assert fairness of financial statements. Though we cannot obtain information on specific methods by which Theranos manipulated its revenue, examples of fraudulent means to increase revenue includes following: recording the same sales twice, creating phony…

to combat fraud and abuse. In 2015, Horizon Blue Cross Blue Shield’s Special Investigations Unit (SIU) -- generated $43.2 million in savings -- identified as a combination of monies recovered and losses avoided – and opened 988 new fraud cases. Since 2005, Horizon’s anti-fraud efforts have saved members $290 million. “It takes the right intelligence tools, a no-tolerance approach and highly skilled investigators to accomplish the SIU’s primary objective, which is to detect and stop fraud…