AD VALOREM - Volume 1, Issue III, July-September – 2014, ISSN : 2348-5485 69 Role of Serious Fraud Investigation Office (SFIO) in Protection of Investor’s Interest: An Overview Radheshyam Prasad & Prof. (Dr.) Tabrez Ahmad I-Introduction A Company is basically a form of business organization and it runs according to the business traits and commercial practices. Being a sub system of the economic-social system operating in the society, it affects and is affected by the economic and cultures
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making or exceeding a number. Consequently, the auditor invariably gets swept in the wave of reporting mayhem. Unequivocally, management is the first line of defense against fraud. A strong system of internal control serves to minimize fraud. However, no system of internal control, no matter how strong, will guard against fraud in the event of collusion. Indeed, when management engages in misconception and deceit, it makes the financial information repor ted that
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be argued that the demise of AT&T Corp. was not wholly attributable to WorldCom's behavior, AT&T Corp.'s decimation certainly was facilitated by the events surrounding WorldCom, since WorldCom was the benchmark long distance telephone and Internet communications service provider. Indeed, the ripple effect of WorldCom's demise goes far beyond one company and several senior managers. It had a profound effect on an entire industry. 2.0 Introduction Between July 2002 when WorldCom declared
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Ethics in Accounting | Managerial Accounting Q1 | | | Instructor: Nikolaos Kourkoumelis, Ph.D. | Student: Marija Lukic | 11/14/2012 | | Table of Contents The Ethics in Accounting case and the plan…………………………………………….4Incidentals of Authorization and Submittal…….………………………………………………………………..4Objective………………………………………………………………………………………………………………………..4 Use of Observational Techniques…………………………………………………………………………………….4 An overview of the Report……………………………………
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integrity” (Carson, 2003, p. 390). Bernie Ebbers, CEO of WorldCom, business executive, and convict, is known to be one of United States most unethical leaders in history. He was convicted on March 15, 2005 on nine counts of conspiracy, securities fraud and making false regulatory filings. WorldCom was 2nd in the nation’s largest long distance telecommunications company, however the company was red flagged when a series of rapid acquisitions took place. The company was founded in 1995 and by 2000
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all the information they can gather. The term phishing initially came from using email to fish for passwords and personal information from a sea of internet users. In the early days, phishing was stealing password or accounts online, now phishing has extended to stealing personal and financial data. In the 90’s phishing used emails, fooling internet users to reply giving there password and credit card information. Now phishing has grown to phony websites, or installation of Trojan horses by key
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keeping huge debts off their balance sheet (para. 10). This also caused a lot of chaos in the stock market. Another case is the one involving WorldCom, where assets were inflated, which eventually lead to the internal auditing department uncovering fraud (para. 17). These cases display why a code of conduct is essential in the business environment. The American Society of CPA’s (AICPA) has a professional code of conduct that Certified Public Accountants (CPA) must abide by while engaging in their
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Operation High Roller CSIA 301 November 23, 2014 New forms of cyber crime continue to come up all the time. Technology has aided the theft of money from bank accounts from banks from all over the world and one such cyber attack was Operation High Roller a cyber attack that targeted corporate bank accounts. According to The Wall Street Journal, these attacks which began in Europe spread to Latin America and even the United States (Booker 2012). The attackers did fraudulent transfer of money
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Running head: Bait and Switch Advertising and Communication Law: Bait and Switch Karen Kinnaird Professor Mark Glantz Law, Ethics, and Corporate Governance Business Law 500 November 27, 2011 Abstract Bait and Switch advertising is a type of fraud and is a violation of consumer laws. This form of business practice is an attempt to lure or bait a potential customer into a business. However, once the customer is about to take the bite, the business will pull a “switch” and make the product no
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PAPER WRITTEN IN PARTIAL FULFILMENT OF THE ESSAY CONTEST ON CYBER CRIME BY ONUOHA, MAUREEN CHIZOBA C/O MR. DIKE G. OKORONKWO, PLOT 607 MONSTERRADO STREET, (NEAR RUSSEL CENTRE) WUSE ZONE 4, ABUJA, NIGERIA 2348055954286 27TH MAY, 2005 onuchizoba@yahoo.com INTRODUCTION Over the past twenty years, unscrupulous computer users have continued to use the computer to commit crimes; this has greatly fascinated people and evoked a mixed feeling of admiration and fear
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