and salary paid are correct * Posting & Summarization-compare payroll master with general ledger * Classification –establish identity for each employee and correct pay rate * Timing-verify whether payroll was issued efficiently Payroll frauds do not take place as much as it used to, that does not mean it will not occur. Fraudulent activities such as fabricated employees, overpaying employees, and continuing employees on payroll after they have left the company are a risk. That is why a
Words: 505 - Pages: 3
percent of all United States Internet traffic and 50 percent of all e-mails worldwide. By 2001, WorldCom owned one-third of all data cables in the United States. In addition, they were the second-largest long distance carrier in 1998 and 2002. How the Fraud Happened So what happened? In 1999, revenue growth slowed and the stock price began falling. WorldCom's expenses as a percentage of its total revenue increased because the growth rate of its earnings dropped. This also meant WorldCom's earnings
Words: 509 - Pages: 3
that the McDonald’s Monopoly game was a fraud. Simon Marketing, which ran the game on behalf of McDonald’s was responsible for the fraud. An investigation was initiated pursuant to a confidential tip. The investigation was led by the Federal Bureau of Investigation and dubbed Operation “Final Answer”. During the investigation to uncover the fraud, the FBI used several different forms of surveillance. In this paper I will describe how the actual fraud was committed and subsequent aftermath of
Words: 2123 - Pages: 9
informant t hat ZZZZ Bests insurance restoration business was fictitious. The informant had contacted Ernst & Whinney in April 1987 and asked for $25,000 in exchange for information proving that one of the firms clients was engaging i n a massive fraud. Ernst & Whinney refused to pay the sum, and the i ndividual recanted shortly thereafter, but not until the firm determined that t he allegation involved ZZZZ Best. (Congressional testimony dis closed that t he individual recanted because of a bribe
Words: 325 - Pages: 2
for economic crimes The history of economic/financial crimes is nearly as old as wealth itself. A white-collar crime is now synonymous with the full range of frauds committed by a business and/or government professionals in which the offender’s principal motive is economic gain. Fraud it’s not a victimless crime; a single scam or fraud can destroy a company, devastate families by wiping out their life savings, or cost investors billions of dollars. To combat white-collar crime, the U.S. Congress
Words: 364 - Pages: 2
There are two Holden's in this play. One is the character and the other is the narrator. His honesty is entirely internalized. He admits his faults and lies in narration, but can't do the same with other people. I personally like reading stories where the main character is telling the story. In this way, I have noticed some contradictions in Holden's personality. He criticizes everyone in society because they are being phonies when he lies all the time leading him to be a phony himself. Right from
Words: 796 - Pages: 4
AN EVALUATION OF THE INTERNAL CONTROLS SYSTEM FOR CASH FOR THE CASE OF NAIROBI SMALL BUSINESSES BY CLEOPHAS MUSINGA A Management Research Project Submitted In Partial Fulfillment For The Requirements Of The Award Of Bachelor Of Commerce (BCOM), School Of Business, University Of Nairobi JULY, 2008 DECLARATION This research project is our own original work and has not been submitted for academic purposes in any institution of higher leaning. Name Number
Words: 9772 - Pages: 40
An Examination of Cybercrime and Cybercrime Research: Self-control and Routine Activity Theory Katherine M. Grzybowski Arizona State University 1 March 2012 Cybercrime 1 TABLE OF CONTENTS 1. ABSTRACT .....................................................................................................3 2. INTRODUCTION...........................................................................................4 3. A REVIEW OF CYBERCRIME ........................................................
Words: 13816 - Pages: 56
world, the threat of cyber crime also grows. While some of these crimes are relatively harmless and commonplace, others are very serious and carry with them felony charges. Various types of Cyber crimes that can be encountered over the net are spam, fraud, cyber terrorism and so on. Whether for individuals, companies or governments, cybercrime has become a big problem. Spam is defined as unsolicited junk e-mail. It is used by chain mailers, forger and some others who selling dubious products. “The
Words: 321 - Pages: 2
The rise of mercantile capitalism and the industrial revolution has made village consumerism irrelevant. Products were once less complicated due to the local nature of industry with the idea of caveat emptor “let the buyer beware” and laissez faire (no govt intervention) these are now outdated due to manufacturers engaging in deceptive conduct. This lead to the need for law reform. Consumer laws objective was to remedy the imbalance between manufacturer and consumer and reflect the moral and ethical
Words: 1166 - Pages: 5
