Total internal reflection

“The understanding of internal controls required of CPAs to express an opinion on financial statements is not adequate for them to offer an opinion on the controls themselves. This will mean auditors have to make changes to their audit process” (McConnell, Banks, 2003) in addition…

the benefits that come along with SOX (Jahmani & Dowling, 2008). According to Suraj Srinivasan from Harvard Business School, “Markets have been able to use the information to assess companies more effectively, managers have improved internal processes, and the internal control testing has become more cost-effective over time.” (Hanna, 2014). Steve Schwarzman, CEO of private-equity juggernaut Blackstone, recently said that “Sarbanes-Oxley is probably the best thing that 's happened to our…

those who can afford a computer and Internet connection. This implicates socioeconomic status, an extraneous variable that was not controlled for in the study. As far as the design of the study, it was a correlational survey. This leads to issues of internal validity, as correlation is not causation, and an at-home computer survey cannot control for extraneous variables. Lastly, on the topic of correlation, the correlations found, while significant, were fairly small, and should be replicated in…

Brontë has an interesting look on hope. In her poem called “life” she explains some days you might have rough cloudy days, causing you to trudge but hope will pick you up and your despair will vanish. On the other hand, Emily Dickinson has a slightly different look comparing hope to an undefeatable bird. The theme they have in common is hope, though it is described In different ways it has similar qualities. In Charlotte Bronte’s poem, “Life” she explains life will not be perfect, you will wake…

Mr. Raigoza is employed with Allied Universal Security. He said that his employer is contracted through the owners of the mall. He said he had been employed the security company since August 1, 2017. Mr. Raigoza stated that he is not a witness to the incident involving Ms. Eva Carrillo’s alleged slip and fall at the La Puente Hills Mall. About the dates in question about the claimant’s date of injuries of August 5, 2017, as well as July 26, 2017. Mr. Raigoza claimed he was working on both of…

Answer 1. The prime focus of a business organization is to generate profit and at times organization have practised illicit practices and illegal acts such as intentional deception (showing skewed results), misrepresentation of accounting information which is directed to result in profit to an individual and group of people. We can say that any illegal activities done by an individual or a group with the intention of making more money for organization when caught by the authorities or by any…

pressure or perceived pressure and rationalization. In the very publicized FIFA court case that included charges such as fraud, racketeering and bribery these elements were clearly present. According to The U.S Department of Justice (2015) , there was a total of nine FIFA Officials and five Corporate Marketing Executives who were indicted in forty-seven charges of racketeering, wire fraud and money laundering conspiracies. These individuals used their position as a way to enrich themselves. To…

The importance of regulations that can enhance risk management and also improve decision making in insurance organizations was emphasized by collapse of Independent Insurance Company Limited in 2001. These lessons should be fresh in the minds of executives and senior managers of insurance companies because they highlight the significance of effective governance structures within companies. Woolf (2007) in an article in Accountancy Magazine described the collapse of The Independent Insurance…

Adele's case is a criminal case Property and asset insurance provides protection against risks to property, such as fire, theft, burglary and some weather damage from flood and earthquake. Adele's case explains that crime occurred in the workplace. And it is to be covered by insurance. However, the company needs to find out who is the criminal. I think this case is we say "Employee Theft or Embezzlement." Employee theft is a crime which involves the unlawful taking of money or property from an…

perform the company audit is the controversial issue in the case given. It had justified that the independent auditor relied on the delivery receipts as the audit evidence based on the ‘segregation of duties’ system. The case here explained that JGI’s internal control procedures for inventory had been executed by different person as the purchasing, receiving and approving functions are performed by the different people than the person who executed the transactions. Different people executing…