Total internal reflection

using multiple schemes, including larceny (Cash), falsified wages & benefits (Payroll), and personal purchases (Billing). It also demonstrates that losses suffered by small business due to fraud are disproportionate to larger companies due to lack of internal controls” (OCCUPATIONAL FRAUD: MISAPPROPRIATION OF ASSETS BY AN EMPLOYEE). When there is a misappropriation of any assets this will normally occurs when an employee decided to steal company assets, in those cases, these assets are of…

Sarbanes-Oxley Act, Section 301: Public Company Audit Committees, is created to address systemic and structural weaknesses that affecting the US capital markets due to failures of audit effectiveness and corporate financial responsibility that could potentially “threatened the reputation of those markets for integrity (Tsacoumis, S, Bess, S, and Sappington, A, 2003).” Section 301 provided appropriate regulatory authority of the audit committee the power to overseeing the accounting and…

Recent revelations by the Washington Times have given rise to conflict of interest concerns with respect to some of the attorneys involved with the review process for emails stored on Hillary Clinton's private email server during her tenure as Secretary of State. Sources, speaking on the condition of anonymity, revealed that, at least a few, of the attorneys involved in the review process have ties to Mrs. Clinton's personal attorney's firm. Mrs. Clinton's personal attorney, Mr. Kendall, is a…

carry out its duties. Consider whether senior management and/or the audit firm may be implicated and whether outside counsel unaffiliated with the company is warranted. • Follow up on significant warning signals, such as reports from the auditor, internal audits, and SEC investigations. • Ensure that the committee has appropriate funding determined by the audit committee for compensating the independent auditor, advisers employed by the committee, and ordinary administrative expenses necessary…

and executive officers. Section 404 requires that management acknowledge its responsibility for establishing and maintaining adequate internal control over financial reporting and that management assess the effectiveness of internal control as of the end of the period. The section also requires the auditor to examine the design and operating effectiveness of internal control over financial reporting to provide a sufficient basis to report on management’s assessment.…

To analyze the development and the legislative history of the Americans with Disabilities Act of 1990 (ADA), it is important to discover the definition of disability as enacted by the United States Congress. “When Senators Weicker and Larkin first introduced the Americans with Disabilities Act (ADA; Public Law No. 101–336 [1990]) in 1988, only 30 percent of people with disabilities in the United States were employed. Title I, the section of the ADA pertaining to employment discrimination, sought…

answer. We are in agreeance that auditors should evaluate the soundness of a client’s business model. This would be an essential part of auditor’s inherent risk assessment process. The risk assessment is to understand the entity, its environment, and internal control to identify and assess the risk of material misstatement whether due to fraud or error at the financial statement and relevant assertion levels (AU-C Section 315, 2015) 2. Identify and briefly describe the specific fraud risk…

Issue- Did the Ontario Police Department’s search of an issued pager violate the Fourth Amendment? Rule- When a search is conducted for a work-related purpose or for the investigation of work-related misconduct, a government employer’s warrantless search is reasonable if it is justified from the beginning and the measures adopted are reasonably related to the objectives of the search and not excessively intrusive. Analysis- Quon was a police sergeant at the Ontario Police Department. The…

of a nationwide scandal over its sales practices, the author’s point of view was to give Wells Fargo customers the insider into how the problems will be investigated, and explain the ethical function that the company has when trying balancing the internal strategic external responsibilities. This article also gives details as to how the author explains how Wells Fargo is willing to rebuild its reputation and respect in order…

The purpose of this experiment has been met and all heat changes in each part of the experiment were measured. In Part I we had to calculate the specific heat (SH) and the atomic mass of a metal. In this case, Copper was examined and the specific heat of Copper was calculated to be 0.262 J/g℃, even though the actual specific heat is 0.387 J/g℃. The percent error of that calculation is 32.299%. A considerable reason for this error is inaccurately reading the thermometer to the tenth degree digit…