U.S. Securities and Exchange Commission

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…

Chasing Madoff Chasing Madoff is a 2011 documentary film by Jeff Prosserman, based on the 2010 memoir No One Would Listen: A True Financial Thriller written by the film’s arguable protagonist Harry Markopolos. Chasing Madoff examines Markopolos and his cohorts pursuit of now infamous ponzi schemer Bernard Madoff. Madoff robbed tens of thousands of people, of tens of billions of dollars. Investigative journalists from several large publications were sought out and tried to bring forward expose…

they use the craziness as a tactic to lure customers in. Leonard has found videos and commercials online that are created to be crazy. Although Leonard knows Black Friday has unethical qualities, he does remind the reader that it is a huge day for the U.S economy. To him it is a way of getting back at the 1%’ers and capitalism at its finest. The author believes that slowly the retail moguls are coming to their senses. Recently, Black Friday sales have started the midnight of Thanksgiving or even…

Madoff was a broker who legally purchased and sold non-listed stocks on the New York Stock Exchange, soon he and his brother developed a technology that aided them in the competitive investment industry. Madoff’s Ponzi scheme was a continuous process of acquiring new investors’ funds, to pay the old investors’ promised 10-15% return on investments; all the while the legal funds were achieved via sales commissions for profits. Madoff sought out well-known individuals as investors and was known to…

The crash had immediate effects on the New York Stock Exchange, being as it may that there was a staggering amount of sell orders in the previous week causing a few clerical errors that they needed to fix (Brennan 66). They had to make sure that everything was right and that they did not do anything wrong. The…

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…