...Week Assignments And Case Study IF You Want To Purchase A+ Work then Click The Link Below For Instant Down Load http://www.hwspeed.com/Grand-Canyon-ACC-664-Entire-Course-3323122222202.htm?categoryId=-1 IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM Questionweek 1 Describe some of the tools and references available on the ACFE Web site and explain how they can be used by a forensic accountant. Provide at least two specific examples to support your explanation The article, "Help for Solving CPAs' Ethical Dilemmas" discusses ethical issues in today's environment. Discuss how these tools could assist a forensic accountant in evaluating an ethical issue. week 2 Select another state and compare and contrast that state's definition of fraud with Arizona's definition. Is either definition more appropriate than the other? Why? Based on the information provided in the Association of Certified Fraud Examiners 2010 Report to the Nation on Occupational Fraud and Abuse, select one of the major categories of occupational fraud and discuss in detail how perpetrators are able to commit these types of frauds. week 3''' Select an example of an asset misappropriation case and discuss how a perpetrator would commit this type of fraud and what types of internal controls management could implement to help to prevent or detect this type of fraud. 2 Select an example of a corruption case and discuss how a perpetrator...
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...Being a fraud victim is something that can happen to anyone at anytime, and if it does happen to someone it causes a few major effects in the victims' life. Fraud can now happen online or offline, it can happen to a one man operation or a large corporation, and it usually has the same effects on every victim; being a victim to fraud changes the lifestyle approximately 180 degrees because the major effect to fraud is the loss of trust and in a few cases, fraud can take a person's life. Some people can easily recover from it, and others can lose their lives to it. The first thing that happens to a fraud victim is denial, after that comes blame, then loss of trust, then physical injury in some cases. Fraud can be found in many forms, like identity...
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...Healthcare Fraud and Abuse Under HIPPA, “fraud is defined as knowingly, and willfully executes or attempts to execute a scheme… to defraud any healthcare benefit program or to obtain by means of false or fraudulent pretenses, representations, or promises any of the money or property owned by…any healthcare benefit.” Unlike Fraud, abuse is, “means that are improper, inappropriate, outside of acceptable standards of professional conduct or medically unnecessary.” Health care fraud arises from an individual or group of individuals filing of a dishonest health care claim in order to turn it into a profit. Abuse; however, is harder for the investigator to identify and establish if the act was committed knowingly, willfully, and intentionally. Healthcare industry is one of the fastest growing sectors of the US economy; almost 10% of the US’s national GDP is consumed by the health care industry. According to Forbes’s report, the US National Healthcare expenditure of 2012 was nearly $3 Trillion. According to the National Healthcare Anti-Fraud Association, nearly $60 Billion is lost to healthcare fraud each year. The healthcare industry is an enormous market; therefore, making it easier for healthcare providers to take advantage of the American population. This paper will focus on why fraud and abuse occurs, different types of fraud, example cases of fraud and abuse, impact to present day healthcare industry, and potential solutions to fixing and preventing fraud and abuse from occurring...
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...FRAUD: FRAUDULENT ACTIVITIES A REVIEW OF THE CRIMES Introduction Investigations into fraudulent activities have brought much attention to Federal Government spending. The impact of fraud and the corruption caused by internal parties or external entities targeting government funds can be substantiated. For example, the Association of Certified Fraud Examiners (ACFE) in a 2012 Report to the Nations on Occupational Fraud and Abuse projected a global fraud loss of more than $3.5 trillion per year. Fraud and corruption is a common problem that is all over the world. The U.S. Nuclear Regulatory Commission (NRC, 2006) wrote in its “Fraud Awareness” handbook that fraud is an enormous problem that can waste valuable funding and other resources. Fraud is a potential problem that threatens the Federal Government mission of protecting the health and welfare of the American peoples. According to the Legal Information Institute (LII) at Cornell University Law School fraud precise legal definition varies in the area over which legal authority extends or the given power or authority that has exclusive jurisdiction to decide legal matters. LII defines fraud as “deliberately deceiving someone else with the intent of causing damage.” On December 2nd 2012 Special Agent Jason Muldrew of the Air Force Office of Special Investigations at Kunsan Air Base, Republic of Korea printed news story said, “Fraud is defined as the crime of obtaining money or other benefits by deliberate deception...
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...FRAUD BASICS WHAT IS FRAUD? Fraud, sometimes referred to as the fraudulent act, is an intentional deception, whether by omission or commission, that causes its victim to suffer an economic loss and/or the perpetrator to realize a gain. A simple working definition of fraud is theft by deception. Legal Elements of Fraud Under common law, fraud includes four essential elements: 1. A material false statement 2. Knowledge that the statement was false when it was spoken 3. Reliance on the false statement by the victim 4. Damages resulting from the victim’s reliance on the false statement In the broadest sense, fraud can encompass any crime for gain that uses deception as its principal technique. This deception is implemented through fraud schemes: specific methodologies used to commit and conceal the fraudulent act. There are three ways to relieve a victim of money illegally: force, trickery, or larceny. Those offenses that employ trickery are frauds. The legal definition of fraud is the same whether the offense is criminal or civil; the difference is that criminal cases must meet a higher burden of proof. For example, let’s assume an employee who worked in the warehouse of a computer manufacturer stole valuable computer chips when no one was looking and resold them to a competitor. This conduct is certainly illegal, but what law has the employee broken? Has he committed fraud? The answer, of course, is that it depends. Let us briefly review the legal ramifications...
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...Licensed to: iChapters User Licensed to: iChapters User Fraud Examination, Fourth Edition W. Steve Albrecht Chad O. Albrecht Conan C. Albrecht Mark F. Zimbelman VP/Editorial Director: Jack W. Calhoun Editor-in-Chief: Rob Dewey Sr. Acquisitions Editor: Matt Filimonov Associate Developmental Editor: Julie Warwick Editorial Assistant: Ann Mazzaro Marketing Manager: Natalie Livingston Marketing Coordinator: Nicole Parsons Content Project Management: PreMediaGlobal Sr. Manufacturing Buyer: Doug Wilke Production House/Compositor: PreMediaGlobal © 2012, 2009 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored, or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706. For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be e-mailed to permissionrequest@cengage.com Library of Congress Control Number: 2010940986 ISBN-13:...
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...Non-For-Profit Fraud Authors’ Note This paper was prepared for Advanced Accounting, Summer 2013. OUTLINE 1. Introduction 2. The Reasons of Fraud in Nonprofits. 3. Types of Nonprofit Fraud. 4. Recent Fraud Cases: A. $1,000,000 Charity Scam by John Cody. B. ASPCA International and $27,000,000 Fraud. C. Fraud Committed by Anita Collins, Church Bookkeeper. D. Fraud Committed by Hugh Blackburn. 5. Fraud Prevention in Nonprofit Organizations. 6. Conclusion. Introduction. Most of us are familiar with the organization ASPCA (American Society for Prevention of Cruelty to Animals) and some of us even donate or consider donating money or time. But not many of us know that only 5 cents of every dollar collected by ASPCA goes actually towards the organization’s primary goal, which is helping animals. Just a few months ago a disaster hit NYC and the areas around. It is hard to believe but it gave great opportunity for fraud. Consider the case of the couple John Sandberg and Christina Terrassino, who launched a charity website, The Hurricane Sandy Relief Foundation. According to DCA (Division of Consumer Affairs), they have solicited more than $600,000 from about 2,000 donors. However, less than 1 percent of the money was given to the victims of the hurricane (Rose, 2013). Beside, consider the case of Anita Collins, a 67-year old church bookkeeper. She is known for stealing approximately $1,000,000 from the church she worked in (Huffington...
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...Financial fraud was a word rarely herd of before the 2000’s, but as the economy got worse and worse it became a leading headline. Americans began to find out that some of America top companies had been intentionally altering their accounting books to appear stable. Some of these companies were taking the money for personal use and some to convince people to still invest with them. As well as top company’s being fraudulent there were new highs hit as banks had the highest totals ever for fraudulent checks. Also spikes in identity theft and credit fraud. This should be no surprise since the economy started down sliding in 2001and times have gotten harder on every one. It is easy to commit financial fraud in the use. With the biggest motivation being that people can think they can get away with it. A wise teacher once said, a good accountant can make the numbers balance one way or another. This is the case, therefor it has become too easy and to tempting for some people. That explains the harsh prison sentences and threats of hefty charges for fooling around with finical fraud. One way or another the law takes down people who go after the quick buck. Whether it’s a minor check fraud scam or million dollars in fake expenses the law always wins. Finical fraud is every were and as an American citizen it is important to understand finical fraud, examples of finical fraud and how to protect and ovoid finical fraud. What is financial fraud? Financial fraud is “Financial fraud is a situation...
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...Acronyms CIPFA: Chartered Institute of Public finance and Accounting DWP: Department of Works and Pension LCFS: Local Counter Fraud Specialist NAO: National Audit Office NFA: National Fraud Authority NHS: National Health Service NHS CFSMS: National Health Service Counter Fraud and Security Management Services XXXXX: XXXXX ousing Gr Table of Contents 1.Executive Summary.................................................................................................. 4 2.Introduction.............................................................................................................. 6 2.1 Objective of XXXXX sanction policy............................................................ 6 3.Literature Review.................................................................................................... . 7 3.1 Definition of fraud.................................................................................... 7 3.2 Examples of fraud ................................................................................... 8 3.3 Sanction.................................................................................................... 8 3.4 Definition of sanction............................................................................... 8 3.5 Examples of XXXXX sanctions.................................................................... 9 4 Key Findings............................
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...B1. Client Confidentiality Fraud investigators are responsible for upholding the ACFE Code of Ethics when dealing with client confidentiality, integrity, and objectivity during a fraud investigation. A fraud investigator is not allowed to reveal confidential information obtained during a fraud investigation unless proper authorization is given from the client or a lawful order. Therefore, any information discovered during the fraud investigation remains confidential unless HealthSouth gives permission or the SEC requests the information. For example, the fraud investigator is not entitled to subpoena HealthSouth for their information. Therefore, the fraud investigator relies on HealthSouth’s cooperation to complete their fraud investigation. If the fraud investigator discloses the confidential information without proper authorization, the relationship with HealthSouth becomes irreparable resulting in the company’s lack of...
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...Case: Independent Study Correlation does not imply causation. It was one of most popular phrases in the Statistics class. Recently, I read an article and enjoyed the statistical practices in accounting discussions. The article is “SEC’s New Focus on Accounting Fraud” written by Jonathan B. MacKenzie (http://www.law360.com/articles/460715/sec-s-new-focus-on-accounting-fraud-what-s-on-its-radar). Accounting fraud cases brought by the SEC have been decreasing in recent years. As shown in the graph below, the financial fraud matters brought by Enforcement became 11% in 2012 fiscal year compared to 29% in 2003 fiscal year. During those years from 2003 to 2012, the total enforcement actions by the SEC did not decrease. Data source: http://www.sec.gov/news/newsroom/images/enfstats.pdf From the decline trend of percent, there could be two main questions. First, what are the causes to this decline trend? The next one is how long it will keep the momentum. The decline trend in recent years seems to be logically explained by two possible scenarios. One is that financial reporting has actually improved after the Sarbanes-Oxley legislation in 2002. The other is that financial fraud remained the same level as before, but less fraud has been detected due to shifted priorities at the SEC. The examples include restructuring of the Enforcement Division, in 2009, into five specialized units, missing emphasis on detecting financial fraud and disbanding the Financial Fraud Task Force...
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...The Fraud Triangle Abstract In 2002 SAS No. 99, Consideration of Fraud in a Financial Statement Audit describes the difference between material misstatements due to errors and intentional fraud and defines two types of intentional fraud: fraudulent financial reporting and misappropriation of assets. SAS No. 99 also introduced D. R. Cressey’s theory of the fraud triangle which is so named because it consists of three conditions that are generally present when fraud occurs: incentive/pressure, opportunity, and attitude/rationalization. Introduction This paper reflects on SAS No. 99 to describe the difference between material misstatements due to errors and intentional fraud which includes fraudulent financial reporting and misappropriation of assets. It also describes the fraud triangle theory proposed by D. R. Cressey. Think back to when you were in elementary school during fire safety week when the fire department would come and visit. Do you recall the fireman explaining what can be referred to as the fire triangle? That is, the description of what is necessary for fire to exist and continue. In order to create fire you need three things: fuel, oxygen, and heat. To put out (or prevent) the fire you would need to remove one of those three sides to the triangle. You could stop the fire by removing either the fuel, oxygen, or heat. This is a simple analogy for the fraud triangle. Just as there are three sides to the fire triangle there are three sides to...
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...Article or Case Law Search Article or Case Law Search There are many cases that address the current critical regulatory issues in health care. Medicare fraud and abuse violations are only but one critical regulatory issue that is happening in America today. Medicare fraud and abuse is a major issue and it must be addressed. Many people today are lying on their applications in order to be approved for Medicare. This is hurting the people who truly need Medicare. Nature of Medicare fraud and abuse laws Medicare fraud and abuse is when someone will make false statements about themselves or that someone else is giving false information so the other person can get Medicare. When Medicare fraud happens it can either be a one person act or from a group of people or even an organization. Many people around commit fraud, in fact you may know someone who has already done so or may do so. “Organized crime is infiltrating the Medicare Program and masquerading as Medicare providers and suppliers” (Department of Health and Human Services, 2012). Some forms of Medicare fraud are: When someone is billing for services but there were no supplies that were available or services, when someone has billed Medicare for appointments that weren’t made, when someone changes claim forms or makes changes to receipts in order to get higher payments. Medicare abuse is when there is unnecessary cost in Medicare. “Abuse includes any practice that is not consistent with the goals...
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...Memorandum: of Fraud Examination TO: Mr. Robert Moritz, U.S. Chairman and Senior Partner, PwC FROM: Bilen Kebede, Lead Forensic Accountant DATE: MAY 31, 2015 SUBJECT: Icon Telecom Lifeline Fraud Lifeline Fraud Executive Summary Using the Lifeline fraud case as an example, this memo will analyze the case and prevent future fraud by similar telecommunication companies. Suggested recommendations include a proactive fraud auditing, a whistle-blowing system, and employee assistance programs (EAPs). Facts of The Case and Charges In 2014, both Icon Telecom and Wes Yui Chew, who was the sole owner of the company, were convicted of making false statements and money laundering for around $27 million from cell phone subscribers and the US government. Beginning in 2005, Lifeline provided subsidies to participating telephone companies not only for landline service, but also for wireless service for qualifying low-income customers (U.S. Attorney’s Office, 2015). Nonetheless, Icon took advantage of the subsidy program to be reimbursed for more than it merited. Icon Telecom provided Lifeline discounts to subscribers from July 2011 through September 2013. In this short period of time, the organization misappropriated a large amount of the funds available. At the start of the business, the company stated that they had 2,200 Lifeline subscribers. By the end of 2012, Icon was claiming more than 135,364 subscribers. This dramatic increase in the number of subscribers went...
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...Case 1: The Fraud Continues July 17, 2011 Abstract Focusing on the internal control weaknesses that existed at MCI, which contributed to the commission of Walt Pavlo’s famous multi-million dollar fraud. Discussing the approach that should have been taken if fraud was suspected and applying one theory related to crime causation of this case. As well as critiquing the ethical behavior of Pavlo and MCI – discussing what actions could have been taken to prevent the crime. 1. Discuss the internal control weaknesses that existed at MCI that contributed to the commission of this fraud. When we listen to Pavlo and outside sources, like ethics professor Stephen Henn in his book “Business Ethics,” we hear of employees concealing bad debt in Pavlo’s department. It seems that “unethical decisions were commonplace” (Henn 2009). We see an upper management that, when notified of large amounts of bad debt, completely denied any problem. Pavlo states, “I sent a memo to senior staff telling them that we had about $180 million of bad debt…. and asking how we were going to address it…The response was that the bad debt budget…was going to remain at $15 million and that we would just have to work through whatever issues we had.” (Jacka 2004) An ‘Internal Auditor” article from 2004 goes on to report that in one account “a customer who owed MCI US $100 million was allowed to sign a promissory note, which turned the receivable into a short-term asset.” These examples are perhaps the most...
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