Case Study 3: Boss, I Think Someone Stole Our Customer Data ACC 571 Forensic Accounting 15-May-12 Evaluate the obligation Flayton Electronics has to its customers to protect their private data. All client data needs to be kept secure all of the time. Doing this helps to protect company operations from being slowing down because the firm looks bad in the eyes of the public. Flayton Electronic has an obligation to protect all client information so that their
Words: 1012 - Pages: 5
Advanced External Auditing [AU2] Examination Blueprint 2013/2014 Purpose The Advanced External Auditing [AU2] examination has been constructed using an examination blueprint. The blueprint, also referred to as the test specifications, outlines the content areas covered on the examination and the weighting allotted to each content area. This document also lists the topics, the level of competence for each topic, and the related learning objectives and competencies. The learning objectives have been
Words: 7165 - Pages: 29
In fact, there was well documented evidence released to the government years before the fraud was charged that this was indeed a fraud of massive size. The inability of government to uncover the fraud that was delivered to them brings into question the effectiveness of regulations and laws. Description of events Bernie Madoff ran the world’s largest Ponzi scheme. In 2008, the biggest investment fraud in history was revealed and over $50 billion dollars had vanished once all the losses were
Words: 1807 - Pages: 8
Name Date Instructor Introduction In recent years, accounting ethical breaches has emerged as a major problem for most of the organizations. With growth of businesses, the number of accounting ethical breaches has also increased in organizations. Accounting ethical breaches may be defined as the misappropriation and misconduct of financial data by the auditors and accountants of the company (Duska & Ragatz, 2011). The accounting ethical breaches not only affect the organization, but also
Words: 1393 - Pages: 6
Advanced External Auditing [AU2] Examination Blueprint 2013/2014 Purpose The Advanced External Auditing [AU2] examination has been constructed using an examination blueprint. The blueprint, also referred to as the test specifications, outlines the content areas covered on the examination and the weighting allotted to each content area. This document also lists the topics, the level of competence for each topic, and the related learning objectives and competencies. The learning objectives have been
Words: 7165 - Pages: 29
clay tokens to the invention of the abacus, accounting is as old as civilization. It wasn’t until the commercial revolution at the end of the dark ages that double-entry bookkeeping came into existence. (It began in the Venice/Florence area in Italy.) A hundred years later, Luca Pacioli, a Franciscan monk, wrote a math book that suggested merchants needed three things: sufficient cash or credit, an accounting system, and a good bookkeeper. Today accounting is commonly offered as a major of study.
Words: 954 - Pages: 4
of that amount. In July 2006, Brooks was ousted as DHB’s CEO by the company’s board. Over the following year, a forensic investigation of DHB’s accounting records revealed that the company’s impressive operating results from 2003 through 2005 had been the product of a massive accounting fraud. Brooks and his two subordinates had routinely and blatantly altered DHB’s accounting records to achieve the earnings targets that he had established for the company. The primary account manipulated by
Words: 4639 - Pages: 19
OUR LADY OF FATIMA UNIVERSITY- ANTIPOLO CAMPUS RECENT ACCOUNTING SCANDAL: “The HealthSouth Scandal of 2003” SERRAON, ABIGAIL E. Accountancy 4Y2-1 ENGR. ANTHONIO CHAN March, 2016 INTRODUCTION Embezzlement, misappropriation, cheating or stealing is a form of fraudulent act done with an organization. There are television and newspaper stories nearly every day about all kinds of corporate schemes and scams. Behind every fraud is a person or a group of people who has taken what is not
Words: 1856 - Pages: 8
Case Study 1 – And the Fraud Continues Heidi Janis Casazza Strayer University ACC/571 Dr. Timothy Franklin Deleanor Brown January 27, 2013 Case Study 1 – And the Fraud Continues Since the turn of the century, many financial scandals have been discovered, such as MCI Communications Corporation (MCI). Financial scandals can be minimized by the use of effective internal controls. According to Chao and Foote, effective internal controls reasonably prevent material misstatements in financial
Words: 1313 - Pages: 6
auditors be trained in forensic accounting to enable them to be more effective in their duties. pg. 8 CHAPTER ONE INTROUCTION 1.1 BACKGROUND OF THE STUDY. At the beginning of the century, most businesses are small and sole-operated. The owners/managers are overly involved with most of the decision making. As business grows in size and complexity, professional managers take position of the owners and the operators. Consequently, they rely heavily upon streams of accounting and statistical report
Words: 1576 - Pages: 7
