Internal audit

careful consideration of the matter, I had to admit that they really weren’t the problem, even though they were the deed doers. None of anything they did could have been done without a lot of looking the other way and stamps of approval from both internal guards like the Board of Directors and external ones like Anderson Accounting, the SEC (Securities and Exchange Commission), and a whole bunch of fat cat politicians, both Republicans and Democrats whose campaigns received hefty and perhaps…

In this case there is an owner Jay Carlos is faced with a major dilemma. He has opened up a business that house the mental retarded and he learned that he is not prepared to handle the heat that is coming from OSHA. The representative comes to the facility and he thinks that his contacts including his attorney have the power to override the demands of the OSHA representative. In the 1970’s when things started to change he learned that in order to operate that facility he needs to provide state…

HealthSouth & Fraud Risk Factors HealthSouth was faced with a number of incentives and pressures that contributed to its fraudulent actions. For instance, the doubling of pretax earnings in 2000 although sales only grew about 3%, management’s commitment to meeting the Wall Street analysts’ expectations, and the significant financial interest and business dealings that the directors had with the company. The financial interest of the directors certainly increased their motivation and drives to…

The first thing I see that could have been more effective with the bad news. Bob Nardelli should have done it in person, not by a letter to the employees (Cardon, 2013). Furthermore, by delivering the bad news in person it would have given the employees a chance to ask questions. For example, about the voluntary packages, the employees may have wanted to know exactly what the packages had to offer. Bob Nardelli, did not give the announcement much time to be considered for the employees. The…

In Miller v. Mills Construction (2003), Mills Construction had contracted with the City of Brookings, SD to construct buildings. Mills Construction subcontracted the erection of a steel clear span to Double Diamond Construction, which is owned by Wilma Miller. In the subcontract, Miller agreed to supply labor and equipment for the project and Mills agreed to supply materials, which they obtained from American Buildings Company (ABC). After beginning the project, Miller noticed issues with the…

You usually need to have a relationship with the company that requires you to keep info confidential. So if I am a board member giving people confidential information, I am liable. Darla does not have a relationship with Cardware that requires her not to trade on insider information. Darla is not employed by Cardware, and she did not steal the information, so it would be difficult to charge her with "misappropriation." There is also another test under the insider trading law. Darla did not pay…

Chapter 25: The Joint Meeting of the Two Bureaus of North Kalimantan Communist Party Central (August 1972) In August 1972, the Secretary of the North Kalimantan Communist Party Central 2nd Bureau, Huang Ji Zuo came to the First Division coastal area. All members of the Party Central 1st Bureau, including Lin He Gui, his wife and I, came from Matang forest area to the coastal area to meet him. There would be a joint meeting between the Party Central 1st and 2nd Bureau. The meeting was…

The risk that are likely to be met by Jackson is, if he fails to make a real collaboration that is sound both in selectivity and accountability, the president might decidedly call off the knowledge sharing application which is something that is of great importance to Jackson in his position as the information officer of the company. There is the uncertainty as to whether the firm would be able to live up to the expectation if it were to be selected as a provider. The other dilemma that is faced…

Question 2: Justify why is there a special need for ethical conduct in professions including those in the accounting and auditing related field? Ethics reflect beliefs of what is right or wrong, just or unjust, good or bad in terms of human behavior and it consists of moral principles that govern the behavior of a person (Boundless.com, 2015). Whereas profession refers to the type of jobs that required special training, skills and high level of education (Cambridge Dictionaries Online, 2016).…

According to Hopkins and Gross (2010), the governing board plays a key role in how the nonprofit is controlled and handled. Based on how the organization is setup will determine how the governing board is selected, however, since they are the gate keeper of the organization (Hopkins & Gross, 2010), it would behoove the organization to have board members that are financially literate as it relates to business and budgets. Budgets are generally completed annually and the numbers should equate to…