Internal validity

the statement is accurate as far as they know (3) all material facts are included and fairly represented as far as they know (3) they are ultimately responsible for the internal controls procedures practiced by their company (4) they believe their internal controls procedures are effective (5) changes and deficiencies in internal controls have been reported (EY). By forcing executives to personally certify documents submitted to the SEC for review, the authors of SOX hoped to increase…

After pronouncing judgment in Ghasi Ram on February 7, 1968, Hidayatullah, J., decided Om Prabha Jain v. Abnash Chand on the same day dealing with the same issue, i.e., whether making of discretionary grant by a Minister on the eve of election amounts to bribery or not. Applying the test laid down in Ghasi Ram, i.e., "that a Minister in the discharge of his duties may be required to do some acts of administration including the granting of money for the uplift of a certain communities and this…

Bureaucracy is not a system that some businesses now use because of it being rigid, cold and insufficient due to its unnecessary processes also known as “red tape”. In order to understand bureaucracy more you’ll have to understand of how it works and the environment that it is used in. Bureaucracy is a system that is based on a set of rules and procedures, it also has a hierarchical system which usually controls a large or small group of people. Bureaucracy is best to be described as a…

Charles Ponzi was a person who was notorious for his Ponzi scheme in the 1920s, and several others have committed fraudulent acts since then. Fraudulent acts are obtaining something through deception. A lot of fraudulent acts are committed by business students, possibly containing a lack of morals, and science students are also often accused of containing a lack of morals. This paper aims to analyze the connection between low morals, business students, and science students claimed by an…

she enjoyed traveling to horse shows in a 45-foot Liberty Coach bus. Crundwell also had perceived opportunity to utilize her position to commit and conceal her fraud for over twenty-years. The City of Dixon had a small team that operated with weak internal controls and no segregation of duties, which gave Crundwell complete control over the city’s finances. Therefore, she was able to open her bogus account and create fictitious invoices to embezzle funds. In addition, she collected the city’s…

as well as purchasing Calliope hall. The several unbudgeted projects that Spigot committed before the Purchasing Department had the chance to study the proposal, was later all turned down by the departments. Moreover, he intentionally ignored the internal auditor’s reports and recommendations and did not bring them up to the board. He almost completely disregarded the reporting process. In addition, he fabricated some numbers on the budgets and the financial statements to “fulfill” his…

process not just the procedural approach. This also supports the FRC Guidance on Risk Management, Internal Control and Related Financial and Business Reporting (previously known as The Turnbull guidance) and reference to the fact that boards should established the tone to exercise its responsibilities. (FRC, 2014b) There are various challenges to the board in discharging its duties around risk and internal controls in that Non-Executive Directors have in our nature a less detailed awareness of…

How Does Temperature (thermal kinetic energy) Affect the Phases of Matter? Observation Can matter be in anything that elements can mix to something different? Why does matter have to have more than 2 elements? What things do not have matter? Why does matter have to have more of, weight, volume or density? Why is there such things called matter? Why is the earth made of matter? How much does matter influence the earth and what it does to help? What is matter? How does…

flags that existed as a result from the fraud committed and the falsifications by the company. To begin with, the company ZZZZ Best didn’t have the best internal control. It felt like falsifying the information would never come out and bring consequences. To maintain an ethical environment internally, the company should have constructed a strong internal control to avoid any unethical events leading to fraud. Another flag would be the way how the contracts were created with some miscalculated…

One of the internal control deficiencies that found in Societe Generale is the incapability of back office in detecting and inspecting the fraud activities. Based on the case study, we know that the back office staffs are unaware about the responsibilities to disclose the abnormal or significant transaction to their supervisor, because it is not specifically stated in their job description. Besides that, even though the back office staffs have discover some abnormal transactions that may cause…