distribution of gas, but it later became a market maker in facilitating the buying and selling of futures of natural gas, electricity, broadband, and other products. However, Enron’s continuous growth eventually came to an end as a complicated financial statement fraud and multiple scandals sent Enron through a downward spiral to bankruptcy. During the 1980s several major national energy corporations began lobbying Washington to deregulate the energy business. Their claim was that the extra competition
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ABSTRACT This paper explores fraudulent activity committed by using gas pumps to steal financial information from victims. Furthermore, the paper attempts to answer a variety of questions as presented on Page 143 of our text book. Such as the control issues that were breached and how the fraudsters meet the profile of the average perpetrator. Additionally, I will explore elements of the fraud triangle, red flags for fraud, and problems with prosecuting criminals. Skimming Devices in Gas Pumps
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regarding the relationship between the skill and its application to business operations. A document for the Skills needed for Forensic Accounting (2012) suggests that Forensic Accountant needs to possess is computer skills, “since document and financial statements have taken a more electronic format, forensic accountants must demonstrate computer skills in finding the paper trials left behind by corporate criminals. A forensic scientist will use computer software, known in their profession as computer-aided
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Case Study 1: And the Fraud Continues Forensic Accounting July 22, 2012 Abstract This case represents features of organized crime, occupational fraud and abuse. Most of these crimes involve many individuals and organizations as well as management and/or co-workers that are in a lot of social and financial pressures. Some of the crimes related with organize crime will be money laundering, mail and wire fraud, conspiracy and racketeering. With an internal control weakness employees would always
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during the scandals .............................................................................. 10 6.2.1. Insider trading .............................................................................................................. 10 6.2.2. Wire fraud .................................................................................................................... 11 7. Conclusion ................................................................................................................
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I. Making Connections Case #14-6 1. Succinct statement of the facts: Social Konnections Inc (SKI) is a global internet company that runs a large social media networking web site. The major source of income for the company is from the advertisers who use the advertising space created by Social Konnection Inc. The amount an advertiser pays depends on the number of views or the number of clicks depending on the type of the contract. The company acquired Corporate Collaborations this entity manages
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is it appropriate to contact the audit committee about a difference of opinion with the CFO over an accounting or financial reporting manner? A. If the CFO does not agree to correct the financial statements B. The CEO supports the CFO and does not agree to correct the financial statements C. The external auditors support the CEO and do not agree to correct the financial statements D. The audit committee should always be the first to be informed about such a difference of opinion 4. An internal
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Adelphia Communications scandal By Insert name Insert institution Adelphia Communications scandal Introduction Adelphia Communications Company was a television cable company whose headquarters centered in Coudersport, Pennsylvania. It ranked as the fifth most prestigious cable companies in United States. John Rigas is the founder of the company. The company was highly respected until an infamous scandal ensued following claims of bankrupt in 2002, at which time its headquarters relocated
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Adelphia Communications scandal Matthew Tassin Trident University Ethics 501 Introduction Adelphia Communications Company was a television cable company whose headquarters centered in Coudersport, Pennsylvania. It ranked as the fifth most prestigious cable companies in United States. John Rigas is the founder of the company. The company was highly respected until an infamous scandal ensued following claims of bankrupt in 2002, at which time its headquarters relocated to greenwood Village
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standard unqualified report is comprised of the report title, audit report address, introductory paragraph, scope paragraph, opinion paragraph, name of CPA firm, and the last day of field work. Auditing standards requires the report to have a title, as well as having the word independent in the title. The requirement to have the word independent within the title explains to users that the auditor is independent of the company. In terms of the audit report address, the report is generally addressed
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