Deception is an ordinary and ubiquitous fact of everyday life, as both verbal and non-verbal social behavior of human nature (1). Earliest representations of feigned madness appear within texts as old as the Bible (2) and the first reference to malingering from medicine can be found in “On Feigned Disease and the detection of them” by Galen in 2nd century AD (3). An individual’s deceptive behavior becomes clinically significant when it is encountered in medical settings if the individual is a…
sometimes people perform Main Street ideas and actions, but the character is overall white collar focused. In The Big Short by Adam McKay, the antagonist and protagonists are both white collar, but one of the four protagonists has blue collar morals. In this movie, the four protagonists attempt to profit off of the big banks because the banks gave out too many subprime mortgages to people who couldn’t pay it back. Mark Baum (Steve Carell) illustrates his blue collar morals by not agreeing to…
financial statements are free of material misstatement whether caused by error or fraud. The Auditor has standards of fieldwork that should be used as a guide to fulfill their responsibility. These standards are covered in SAS 99. Fraud is the intentional act that results in a material misstatement in financial statements that are the subject of an audit. There are two types of misstatements relevant to the consideration of fraud, Misstatements arising from fraudulent financial reporting and…
sharing information about breaches with the public, as it sheds “bad” light on them. But, when they do share the information that their security has been breached, it’s usually catastrophic. Just this last year Anthem Blue Cross, a popular health insurance company had…
During the time period of 1990 to 2000 financial statement fraud was pretty common. Various firms were engaged in financial fraud without thinking that the investors, and other stakeholders rely on those financial statements and the opinion of the auditor on those financial statements. The Sarbanes-Oxley Act was created because of the multiple accounting scandals of WorldCom & Enron in July 30, 2002. Because of that the investors lose billions of dollars, this negatively impacted financial stock…
Throughout this course we have learned that there is a clear connection between organized crime and public officials, such as law enforcement, lawyers, judges and even the president. But corruption is not only prevalent with politicians and public officials. It also instills legitimate businessman as well. The reality is that organized criminals, legitimate businesspeople, and government officials are equal players in a marketplace of corruption (Lyman, 2015). The organized crime and…
The Bernard Madoff Ponzi scheme was indeed a despicable intractably woven web of deception. He swindled millions of dollars from both the rich and the struggling middle class for more than 50 years. Madoff was money driven to the point that not even his friends and family was speared from his lies. People are driven by money, therefore, there will always be crimes as a result of the pursuit of this most tempting symbol of wealth. However, this is also the reason authority institutions are…
The article explains how many e-crimes are being treated unfairly and the people found guilty for these crimes are charged with an unreasonable sentence. The Computer Fraud and Abuse Act was created in 1986, but needs various improvements to be up to date with to today’s internet. With the CFAA, almost anybody can be prosecuted and convicted of a violation for minor actions that seem harmless, such as using a roommate’s Netflix account. The ethical issues identified in the article are e-crimes…
After using the fraud triangle and information gathered I have identified the following incentives and pressures, opportunities, and attitudes for Pinnacle to engage in fraudulent financial reporting. The incentive is that Pinnacle’s board is trying to sell the Machine-Tec division and so the President is determined to make it as profitable as possible. The pressure they are facing is that Pinnacle is in the complex situation where they can violate its debt agreements. With their opportunities…
Phoniness People put on all sorts of facades when interacting with others, seldom showing people exactly what they are like. For Holden Caulfield in The Catcher in the Rye, he is not able to see beyond people’s phoniness and uses it as an excuse to pull away from society. Even though Catcher in the Rye was written in 1951 there is certain themes that still have a big part in the world, Phoniness is an example. Int the Catcher in the Rye Holden gets fed up with everyone and their phoniness,…