Sarbanes–Oxley, Sarbox or SOX, is a United States federal law which was introduced in 2002. It is also known as the “Public Company Accounting Reform and Investor Protection Act” and “and 'Corporate and Auditing Accountability and Responsibility Act”. The main objective of the act is to protect investors by improving the accuracy and reliability of corporate disclosures. New aspects are created by SOX act for corporate accountability as well as new penalties for wrong doings. It was basically introduced
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Habibi 1 Ramtin Habibi Mr. Jeffs ENG 3U1 July 15, 2014 " Essay Test " Throughout human history, mankind has endured many periods of suffering and hardship. Although it was completely immoral, those hard times are what made our world the place it is today. It is in our human nature to experience hardship at one point in our lives as it can help us mature and better ourselves. However, when the hardship comes from several different sources, it becomes hard to learn form the many experiences
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There is an old saying: Crime doesn’t pay. However, for David Miller crime paid for two Mercedes-Benz sedans; a lavish suburban home; a condominium at Myrtle Beach; expensive suits; tailored and monogrammed shirts; diamond, sapphire, ruby, and emerald rings for his wife; and a new car for his father-in-law. Though Miller confessed to embezzling funds from six different employers over a 20-year period, he has never been prosecuted or incarcerated—in large part because his employers never turned him
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Cybercrime Monica Locklear CJ105 Lance Spivey 2/24/2015 Miller-Motte College Online Computer crime better known as Cybercrime refers to any crime that involves a computer and a network. Cybercrime may happen anywhere on the internet such as the chat room, email, notice groups, and even mobile phones. Technology is becoming so advance and more common that there are so many people who will take a chance to commit crimes that involve technology. It is so hard for the
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GROUP 1: Srujana Lingampally Surya Yelamanchili Chuks Erinne Munyaradzi Mujeyi Document Information Document Details Group Members: | Srujana LingampallySurya YelamanchiliChuks ErinneMunyaradzi Mujeyi | Date Created: | Jan 25, 2015 | Group: | 1 | Assignment: | Lab 1 Ethical Dilemma | Course: | IT 6643 | Task History Date | Group Member | Description | 1/25/15 | Srujana Lingampally | Initial draft | 1/26/15 | Srujana Lingampally | Ethical Dilemma Scenario
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4. 2. What is the boundary between earnings smoothing or earnings management and fraudulent reporting? To me there comes a line where you know that the entry that you are making is incorrect, and you make the entry anyways. That to me is where fraud is committed. Otherwise make your best judgement call on what would be appropriate to capitalize, or develop a new way of calculating estimates for accruals if you believe them to be wrong. 3. Why were the actions taken by WorldCom managers not
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Rite- Aid Accounting Fraud: How It Could Have Been Detected Abstract Martin Grass assumed leadership of Rite-Aid from his father in the mid-1990s. In the next 5 years Rite-Aid experienced rapid growth. The company was reporting higher earnings per share each year and a rise in stock prices only to discover it was all because of accounting fraud perpetrated by its senior executives. The SEC filed multiple charges listing the fraud perpetrated by senior management. There were warning signs to
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Introduction Moral hazard arises when an entity protected from risk may behave differently than they would bear all the consequences of risk. Moral hazard increases because individual people and institutions do not assume the consequences of their actions and, therefore, tend to behave less careful than would be the case bear the full consequences. An example is the behavior of the driver of the car, which in the absence of insurance is driving more carefully and ensure that the car is parked in
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Introduction The 21st century is an era where the world is developing faster to insure a better life. One of the main factors of this is technology. It is developing daily, which is helping people live in a more comfortable lifestyle. Technology is very useful, almost everybody has a cell phone in order to stay in contact with their family, friends and business associates. Another example would be computers, and now-a-days a future employee needs to have some sort of computer skill to get a decent
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Understanding what misconduct entails is a feat within itself since it does not entail just one thing. Official misconduct refers to those inappropriate actions taken by law enforcement officers or public officials in the exercise of their duties or responsibilities. According to Lippman (2014), there are three categories of official misconduct: malfeasance, misfeasance and nonfeasance. Several attempts to reduce or prevent any form of misconduct from occurring have been made, however, some cases
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