LJB Company | Case Study #2 LJB Company | Internal Control | | This document contains information about the internal controls for LJB Company | TABLE OF CONTENTS 1. Introduction …………………………………… Pg 2 2. Six Internal Control Activities ……………….. Pg 2 3. LJB Company Positive Side ………………… Pg 2 4. Segregation of Duties ……………………..…. Pg 3 5. Petty Cash …………………………………….. Pg 3 6. Human Resources ……………………………. Pg 4 7. Conclusion ……………………………………... Pg 4 LJB Company
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Summary…………………………………………………………………………………………………………………………3 Introduction……………………………………………………………………………………………………………………………………4 Background………………………………………………………………………………………………………………………..5 Rationale……………………………………………………………………………………………………………………..…….5 Purpose of Study………………………………………………………………………………………………………………..6 Literature Review…………………………………………………………………………………………………………………………...6 Methodology………………………………………………………………………………………………………………………….………9 Research Design………………………………………………………………………………………………………………..9 Part
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When examining the many different aspects of fraud one common trend is usually found. This is concealment or some sort of alteration of financial statements. Financial statement fraud is usually committed by those individuals that have influence over a company or have some sort of opportunity to do so. These individuals include C-level management, controllers, and anyone else that has to do with the information that is placed in the financial statements. These individuals will make these alterations
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Introduction WorldCom is a telecommunications company which was lead by CEO, Bernard Ebbers and CFO, Scott Sullivan. In 1999, WorldCom was not melting Wall Street’s revenue and earnings expectations, and it appeared that the coming year would produce more bad news. The CFO argued for setting realistic targets. However the CEO insisted that the company needed double digit growth, and pushed for aggressive targets. These aggressive targets were not supported by historical data or strategic assessments
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Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP, UK 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2009 Copyright © 2009 Elsevier Ltd. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s
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Internal Control for LJB Company Written by: Elson De Lemos Addressed to: The President of LJB Company August 08, 2013 Introduction 3 Internal Control Requirement 3 What LJB is Doing Right 5 Things to Improve and Recommendations 6 Conclusion 9 References 10 Introduction Mr. President as you have indicated you want to be informed about any new regulations required of your company in case you go public. This document will give you an overview of the Sarbanes-Oxley Act,
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accounting fraud and auditor legal liability c a S eS inc lu de d in t hiS Se ction 4 89 99 4.1 Enron Corporation and Andersen, LLP Analyzing the Fall of Two Giants . . . . . . . . . . . 4.2 Comptronix Corporation 4.3 Cendant Corporation . . . . . . . . . . . . . . . . . . . . . . Identifying Inherent Risk and Control Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . 111 119 127 137 Assessing the Control Environment and Evaluating Risk of Financial Statement
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1 Introduction 1.1 Overview This case study revolves around the “non-profit” i.e. Corporate Philanthropic organization known as National Kidney Foundation (NKF) which aims to give aid to needy kidney patients. It relies largely on donations to fund the organization’s most direct way of helping the patients which is to set up dialysis centers. Across its development as an organization, NKF has also adopted other forms of helping needy kidney patients albeit in more indirect ways. NKF has set up
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COURSE BACKGROUND The course involves study of the theory and practice of professional auditing. The successful completion of the course provides a basic understanding of the nature of auditing, the responsibilities of auditors, and generally accepted auditing standards. It will provide a basic foundation to facilitate further study for those who wish to take professional examinations such as the Certified Public Accounting Exam, and the Certified Internal Auditing Exam. IV. LEARNING OBJECTIVES
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Sarbanes-Oxley Act of 2002 Bus 102 – Dr. Sean D. Jasso John Chi 12/9/2010 Table of Contents - Table of Contents Introduction History of the Act Implementation Impact on Business Policy Analysis Conclusion Appendix References pg. 1 pg. 2 pg. 3 pg. 4 pg. 7 pg. 9 pg. 11 pg. 12 pg. 14 1|P a ge Introduction Corporate Scandals are business scandals that initiate from the misstatement of financial reporting by executives of public companies who are the ones trusted to run these
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