Locard's exchange principle

In the case of Bernard Madoff, the problem was to learn how to avoid unethical behavior amongst businesses. Bernard "Bernie" Madoff's Wall Street career began in 1960 and ended Dec. 11, 2008, when he was arrested amid allegations he operated a $50 billion Ponzi scheme. He pleaded guilty to 11 felony counts on March 12, 2009, and was sentenced on June 29, 2009, to the maximum sentence of 150 years behind bars. The “Ponzi Scheme,” named after the 1920’s swindler Charles Ponzi, is a ploy where…

[Explain your choice of methods, key assumptions, and valuation results here.] A violation of The Foreign Corrupt Practices Act consists of 5 elements: 1) make payments to foreign government officials 2) to assist in obtaining or retaining business. 3) Payment to a foreign government official 4) With a corrupt motive 5) to influence the foreign official in his or her official capacity, or induce the foreign official to do or omit to do an act in violation of his or her lawful duty Along with…

industry continues to press forward with replacement of rules-based accounting standards under the U.S. Generally Accepted Principles, with principles-based accounting standards under International Financial Reporting Standards, adoption of IFRS is inevitable. Leading the push for a single set of high-quality International accounting standards is the U.S. Securities and Exchange Commission (SEC), a government appointed body. The SEC’s call to action has prompted the shift away from U.S. GAAP…

Financial Statement Fraud Investigation Frisbey (2015) indicated that forensic accountants should be able to effectively communicate with the management and involved personnel as to the factors of the existence of fraud indicators, to be able to perform essential analytics and independent testing such as horizontal and vertical testing techniques to detect fraud or to examine the validity of evidence being investigated (p.8-9). Frisbey mentioned that forensic accountants should, for example,…

Annual Reports: For comparative ratio analysis, all of the financial reports of preceding three years 2014-2016 were downloaded from official sites of both the firms. Official Websites: The official sites of both the Delta Air Lines and United Continental Holdings were considered to acquire the authentic data for building portfolio information of the products, business objectives and history of the firms. Newspaper/Articles/Reports: Different Newspapers including USA Today, Telegraph, The…

Madoff 's investing firm. GAAP principles are put in place for companies to abide by so financial records are kept as accurate as possible. Not to mention, accurate financial statements provide information to future investors and shareholders to know the company financial standing. The Full Disclosure Accounting Principle says that if a business have a close relationship with a party that does a significant amount of business with it is a violation of the principle. The Wall Street Journal…

I. Issue- Can Terminix substantiate assignment of error of holder of due course in the appeal case against Triangle Credit Union? II. Rule- Holder in due course is someone who has received a negotiable instrument in good faith and without notice that it is overdue, that there is any prior claim, or that there is a defect in the title of the person who negotiated it. III. Application of Facts- On January 23, 2017, Terminix filed a notice of appeal against Triangle Credit Union from the case…

In this paper we provide a general overview of asset misappropriation. We discuss the current state of academic and practical knowledge as it relates to asset misappropriation, including what we currently know about asset misappropriation, what research has been done in this area, what is currently missing from the research, and what additional resources are needed in order to continue to provide high quality research on this topic in terms of the three prongs of the fraud triangle, and then…

of the retailer and not the accountant. In multiple cases, internal controls for these estimations are very limited, as the knowledge to the extent of the discounts and the commercial terms resides mostly with buyer, adding a difficulty to the capacity of other departments to asses the estimations. Furthermore, the compensation of the buyer often involves bonuses attached to commercial income targets, therefore the estimation of the buyer is not objective and can be subjected to personal…

Iowa authorities said that Robert K. Miell was approved and bedevilled on Jan. 9 on assets tax artifice in United States District Court in Des Moines. Last week, Miell had pled accusable to 18 counts of mail artifice apropos to an allowance artifice arrangement and cheating renters out of their accident deposits. Additionally, he pled accusable to two counts of perjury. An investigator for the Iowa Allowance Division’s Artifice Bureau baldheaded affirmation of Miell’s arrangement in 2004. The…