LITERATURE REVIEW 6 a. Introduction 6 b. The Need for an Audit 7 c. Risk of fraud 8 d. The Auditor-Investor ''Expectation Gap'' 9 e. Auditing Profession and Challenges 9 f. Public opinion 10 g. Family or Personal Relationship 10 h. Integrity 11 i. Inherent limitations of an audit. 11 j. Responsibility of Auditors to Third Parties – Case Law 12 k. International, Assurance Auditing, Standards Board (IAASB) 14 CORPORATE FRAUD CASES 16 CASE STUDY: 21 CONCLUSIONS………………………………………………………………………………24 REFERENCES……………………………………………………………………………
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1. Do you think it is ethical for social networks to sell access user information to business for market research and other users? Why or why not ? 1.Spamming - Social Networking Sites can sell one's personal information to anyone who wants to buy it, including spammers and on line predators. Even if the terms of understanding claim that no personal information will be sold, the site can change its policy at any time. social networking sites like Myspace and Bebo are full of spam and scams! Many
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how organizations can protect themselves from it, and multiple real-life examples, an insightful analysis of the implications of cybercrime can be better understood. Wiretapping Wiretapping has become a very common way of committing computer fraud. This occurs when perpetrators read information being transmitted between an organization’s computers. In order to decrease this, companies can implement various encryption techniques to help ensure that confidential information does not reach the
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25-year imprisonment regarding the crime of stock and accounting fraud. Before WorldCom, the world had seen several cases of famous, or infamous, financial and accounting frauds, including Enron, Tyco, Aldelphia, Global Crossing and HealthSouth. Such cases, we can say, were quite complicated to trace, but WorldCom used a simple recipe to cook the book, which will be illustrated below. HOW DID WORLDCOM COOK ITS BOOKS? To understand the fraud occurring at WorldCom, we should basically understand the difference
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Vanessa Wells American InterContinental University CRJS205-1202B-04 Introduction to Criminal Law May, 20, 2012 Abstract The paper describes the meaning of fraud and embezzlement; the types of crimes committed in such cases and the penalties that are faced with the various types of theft that involve public funds. Examples of cases are discussed to help give the reader an idea of the situations that arise and the consequences that come along with them. There also is a brief explanation
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Examining a Business Failure Paper Rhonda Ellis-Thomas LDR/531 May 30, 2012 Dr. Felicia A. Bridgewater Examining a Business Failure Paper 2002 has witnessed its share of scandals. Enron, WorldCom, Tyco, and Global Crossing are just a few names to mention. WorldCom, the nation’s No. 2 long-distance phone company, filed for Chapter 11 bankruptcy protection in July 2002, approximately one month after it publicized that it had indecorously
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ZZZZ Best company Inc. Summary “ZZZZ Best company” was founded by 16-year old Barry Minkow. The core activity of company was carpet cleaning. As he began doing business, Minkow soon realized that carpet cleaning was a difficult way to earn money because customers always complained and vendors demanded payments. Soon Minkow started seeking for financing but realized that bank were not willing to lend him money due to his age and low profitability of his business. That’s why he came up with the
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Main Entry: fake [feyk] Show IPA Part of Speech: adjective Definition: false, imitation Synonyms: affected, artificial, assumed, bogus, concocted, counterfeit, fabricated, fictitious, forged, fraudulent, invented, make-believe, mock, phony, pretended, pseudo*, reproduction, sham, simulated, spurious Notes: a fake is a work of art that is deliberately made or altered to appear better, older, or other than what it is; a forgery is a fraudulent imitation of another thing that already exists
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Veronica Cantu Accounting Information Systems Written Assignment –Week 2 Gary Foster, a former vice-president for Citigroup, pleaded guilty to one count of bank fraud in Brooklyn, New York. Foster embezzled 22.9 million from the bank in a period of eight years, between September, 2003 and June, 2011. The fraud was detected after an internal treasury department audit. Foster joined Citigroup in 1999 after graduating from Rutgers University with an accounting degree. He climbed the corporate
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Need of Cyber Crime Law In India Abstract A Cyber space is a virtual space that has become as important as real space for business, education and politics. The growing danger from crimes committed against computers, or against information on computers, is beginning to claim attention in the India. The digital age has dramatically changed the scope of a crime by adding the electronic component and it comes a new form of science ≴Computer Forensic Science≵. Computer Forensic allows for the evidence
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