Securities Exchange Act of 1934

stock. “Insider trading” is a term that is commonly known to investors, but what is insider trading? This term in most cases is references to illegal actions. However, the term speaks to both legal and illegal actions. According to the U.S. Securities and Exchange Commission (n.d.) (SEC), Insider trading as a legal action, addresses when corporate insiders-officers, directors, and employees-buy and sell stock in their own companies. In situations of legal insider trading, they are required to…

Bernie Madoff was a successful business man until his business came crashing down. Madoff had a securities company by the name of Cohmad securities. This company was in the same building of Madoff 's firm and was designed to introduce new investors to 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…

and active member of the financial industry. Madoff started his own market maker firm in 1960 and aided in the start-up of the Nasdaq stock market. He was a member on the board of National Association of Securities Dealers and also advised the Securities Exchange Commission (SEC) on trading securities. That being said, investors did not have a hard time taking Madoff’s word or question him. Investors were easy to trust and believe Madoff because he had been in the industry for almost 70 years so…

The integration of the GAAS, the AICPA, the PCAOB and the IAS Background Information The Generally Accepted Auditing Standards refers to standards that are used to audit Private Corporations (Sunder, 2010 P. 100). The standards are divided into three categories. The categories include; fieldwork standards, reporting standards as well as general standards. The general standards address the individual’s qualifications to become an auditor as well as the minimum standards for the work product.…

Reporter, Diana Henriques for the New York Times, wrote the book The Wizard of Lies: Bernie Madoff and the Death of Trust. This is an interview conducted by NPR with said author about her book and interviewing Madoff after his arrest. First thing that is mentioned is the personality of Madoff. He is described first and foremost as a liar. Big shocker, he tells Diana that she is the only writer he will be speaking to which in fact was a lie. His personality is also described as charismatic. “The…

1. According to the article, there are various Arizona state government agencies suing Arthur Andersen. More specifically, the litigation was brought by Arizona’s Corporation Commission (Securities Division), as well as the state’s attorney general. The principal allegation of the lawsuit is that Arthur Anderson ignored clear signs and evidence that one of its clients—the Baptist Foundation of Arizona (BFA)—was engaged in ongoing fraud. The firm’s response is that Arthur Andersen did everything…

No Country for Old Men by Cormac McCarthy is a story consisting of two main themes. They are violence and greed. The personality of one of the main characters provides an additional grotesque element as well. Each of these three topics are direct results of each other, the physical violence was a result of the greediness of Moss and the personality of Chigurh determined the amount of physical violence that happened in the story. The first theme in the story is greed. Llewellyn Moss came by…

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…

Bernard Madoff was clever and successful in his efforts to woo some of the wealthiest and most intelligent clients, by gaining the trust of his clients. Successfully, Madoff gained prestige and credibility as he served on charitable boards and held a seat on the government advisory board on stock market regulation. Interestingly, as Madoff’s prestige and credibility continued to grow, he promised a continuous return of 10 to12 percent on investments. As a result, investors were eager to become a…

these assets are of monetary or physical nature. Physical assets could include everything from office supplies and office furniture to expensive items in inventory, or even cars or any large machinery. With having a lack of supervision or any measure security, an employee could take inventory right out of a facility. Thus, misappropriation of physical assets includes not only taking items, but also the unauthorized use of company…