Internal consistency

Phar-Mor Inc. was one of the largest super discount drugstores in the early 1980’S.The Company was a complete success with over 300 discount super stores across the United States and employing thousands of workers. The company’s first signs of financial difficulty became obvious in 1988 as speculation increased about Phar-Mor’s decreasing profit margins. The fraud team consisted of several former auditors, including auditors who had worked for Coopers & Lybrand on prior Phar-Mor audits. The…

Subcategory 2: Describe the role of the government to regulate ethical issues. Identify three statutes identified in Chapter 7 and explain which ethical principles are reflected by those statutes. Government ethics accredited code of conduct that is attributed to a standard of professionalism for the individuals who work in government positions. Government ethics also deals with rules and guidelines concerning rights and wrong behaviors for those persons working in government, including…

The primary responsibility of an anesthesiologist is to provide sedation and pain relief to patients before, during and after any surgical procedure. Although a career in Anesthesiology can be financially rewarding and emotionally gratifying, a person must be willing to spend twelve years of their life attending medical school, becoming an intern and looking for a job practicing anesthesia. In order to attend a medical school, the student must complete a four year bachelor’s degree…

Upon initially reading the text "Minority Report" by Philip K. Dick the reader can infer that there is a power struggle going on between John Anderton and Ed Witwer. This perceived power struggle does not immediately make sense to the reader, however it later becomes an important part of the story. The system described also seems to predict the future in some way by using “precogs, capable of previewing future events and transferring orally that data to analytical machinery” (Dick 10) Therefore…

The goal of any accounting system is to provide useful information to those who make financial decisions. The nonprofit accounting system can be complicated- the organization must be able to have a system which will provide internal users with information to make decisions while conforming the general accounting principles for outside agencies such as the IRS. What complicates things is the reality that leadership and board members have varying levels of accounting/financial knowledge. One…

As discussed, I understand that the insurer’s preferred accounting provider was retained to provide their opinion regarding the claimant’s IRB entitlement, however, the insurer’s retention of a professional accountant does not undermine the claimant’s consumer right under SABS s.7(4) to retain their own professional accountant. The funds set aside for this type of report by the insurer is not discounted even if the insurer decides to hire their own third party accounting professionals. The…

required by the Sarbanes Oxley Act on Internal Controls and how these changes have affected corporations, accounting firms and investors. Primarily, the focus will be on comparing the views of management and accountants regarding changes under SOX.…

Denver Broncos quarterback Mark Sanchez and two other professional athletes have been duped out of more than US$30 million by a scammer who pretended to be a Christian investment adviser, according to federal investigators on Tuesday. Aside from scamming Mark Sanchez out of US$7.8 million, Ash Narayan also deceived San Francisco Giants pitcher Jake Peavy and retired Houston Astros pitcher Roy Oswalt in a Ponzi-like scheme. Based on the lawsuit filed by the Securities and Exchange Commission…

If I was the CEO of Countrywide Financial, I would incorporate a strict protocol regarding guidelines on income, appraisals, and documentation. I would use this protocol to structure the evaluations of salespeople to prevent them from making unethical loans to borrowers to simply receive increased compensation. I would structure the evaluations of salespeople to account for documentation verification. This verification process would total 85% of their total evaluation score. By increasing the…

Chapter 7 bankruptcy information is good to know, especially if you are considering bankruptcy for your business. Or, if you are planning to file chapter 7, you should understand the basics. Also called straight bankruptcy, chapter 7 is about the liquidation proceeding. It involves the debtor who is expected to turn over all non-exempted properties to the bankruptcy trustee, who will convert them to cash for debt payment to all creditors. After its accomplishment, the debtor receives a notice…