Fraud College Essays Samples For Students

Online credit card fraud has been a growing issue over the past decade. With the advantages in modern day technology, online internet credit card fraud continues to be an ongoing societal issue. The issue of online credit card fraud has become a major crime that can easily be committed using the internet. Therefore, improving the online fraud detection is essential for maintaining the viability of the payment system. The following discusses a policy that can help limit the amount of online credit card fraud throughout society.
There are numerous individuals who are affected by credit card fraud. The problem ...

Introduction

According to Trevino & Nelson (2011, p. 35), fraud does not happen as a coincidence. To be specific, fraud in organizations is usually premeditated and has to happen in the right conditions and members of the organization in authority often set these conditions. As such, identifying the root causes of fraud, which is called fraud deterrence, should be one of the priorities of corporate governance. Since fraud has been a common menace in the history of organizational management, various strategies, government regulations, and acts have been developed to prevent the occurrence of fraud (Giroux, 2013, p. 32). These procedures cover ...

Introduction

Background of Caterpillar
Caterpillar Inc. is an American largest construction equipment company that sold its products in different parts of the world. The company is engaged in "manufacturing construction and mining equipment, industrial gas turbines, diesel and natural gas engines and others" (Baldwin & Rutwitch, 2014). The company owned assets of more than 89 billion dollars. It is the largest company in the overall industry. The company sells its product with a trademark of “Caterpillar Yellow”. The company is performing its operations in many countries. The upper management of the company put efforts to acquire other companies and their subsidiaries ...

Insurance fraud is considered as one of the major risks in the business industry as well as one of the most serious criminal offenses. Criminal acts in insurance may involve various types including automobile property, worker compensation, life insurance, personal injury, residential and commercial property claims as well as health insurance. Insurance fraud has negative effects on society and the economy. Companies and government actors are doing their best to detect insurance scams, to prevent them and put an end to them.
Fraud has a negative impact on the insurance sector including the loss of billions of dollars. Insurance ...

Statement of the Research Problem

Currently, there are a vast number of reported cases of online fraudsters who tend to break into people's systems without their consent. The threat of online fraud has an impact on operations of business in the hospitality sector. The adoption of technological advancements improves the efficiency of firms such as the hospitality industry that can guarantee them more advanced customer service and consequently tremendous profits. However, the increased use of the internet makes the hospitality industry prone to fraudsters. For instance, the Marriot Milwaukee Downtown which is a major hotel in Milwaukee, Wisconsin, faces the threat of fraudsters mainly ...

- How many professionals make up the Association of Certified Fraud Examiners?

- What are the requirements to become a certified fraud examiner (CFE)?
- What is the overall mission of the Association of Certified Fraud Examiners?
The overall mission of the association is to support members with the knowledge, training, and resources needed to perform the duty at any time.
- What does a CFE do? What are some of the professions from which they originate?
CFE is able to identify warning and those indicators that hint at possible cases of fraud and possible risks ...

The 1920s was known as the Roaring Twenties in the American history because of changes in the social norms, and the country experienced a strong economic boom (Kennedy: 2). During the time of widespread economic gain, the application of fair value in accounting and lack of regulation in security markets left the investors at great risk. That is the reported figures of stock prices had no information justifying their values. Similarly, financial institutions such as banks were lending recklessly with no guarantees to their clients. Consequently, the gap between the rich and the poor in America increased steadily (pbs.org). ...

Online Credit Card Fraud

Importance
Online credit card fraud happens when someone steals other’s credit card information to make purchases. The online credit card fraud is important because it is easier to fraud anonymously, or tracking someone over the internet and prosecuting them is complicated and requires technical knowledge. Online credit card fraud can hit anyone who makes their payments online. The problem is greater for digital products as credit card companies refuse to provide much needed protection to the sellers (Brabazon et al., 2007). As credit card transitions are prevalent for global payments, there have been increased cases of online credit ...

Economic Impact of E-Commerce Payment Fraud

Abstract
New technological tools and way of doing business B2C e-commerce have a considerable impact on the economy. There are diverse types of e-commerce applications; however, for this paper m-commerce, applications have been considered, and influence of the m-commerce payment frauds has been determined on the economy of the United States. It has been realized that the impact of m-commerce payment frauds is not large on the United States economy because m-commerce represents the very small amount of the economy, which account approximately 0.53 percent of the overall economy. The aim of selecting the m-commerce is that it is ...

Impact of PCAOB on auditing profession and fraud prevention

US accounting profession was blotted with the whirlwinds of corporate scandals like Enron and Worldcom during 2002. Investors lost billions of dollars as they were duped by these companies through accounting fabrication, which deceptively showed the shallow side of the companies to the whole investment community. Accordingly, the financial markets were suffering from the tapered investor confidence and it was important for the US government to restore that confidence by bringing in some strict legislations for the corporate community, and this lead to the passing of landmark legislation, Sarbanes-Oxley Act in 2002 and one of the most important aspect ...

Introduction

The misappropriation of assets involves the misuse or theft of the organization’s cash or non-cash assets by the fraudulent organizational leaders or employees. On the other hand, financial statement fraud involves deliberately misstating or omitting information in the financial reports of the organization. These economic crimes have numerous undesirable impacts on the businesses. For instance, the companies, which fall victim to asset misappropriation suffer huge losses. Financial statement fraud and asset misappropriation also undermine the integrity, credibility, transparency, and quality of the process of financial reporting (Vlad, Tulvinschi, and Chiriţă 268). As an outside consultant to Hollate Manufacturing, ...

Introduction

Many people classify white collar crime as a crime of opportunity and the statistics of the offenders show that they are mostly individuals entrusted with a positon from which they illegally syphoned personal gain. The two areas of white collar crime to be discussed in this paper are the health care fraud and the weights and measures crimes. These two are the most common and used by millions of people each day. You may only see a burglary in your area once or twice in a lifetime or hear of a shooting very seldom but the health care fraud ...

Executive Summary

In view of the issues facing the ABC management, the key solutions identified relates to three issues on cash and budget, innovation and product development as well as theft and fraud reduction. With that, The Cost and budget management solution is meant to enhance the business performance by reducing the excessive and unnecessary use of the company resources. That would be achieved through key initiatives involving effective management of the sales and expense as well as debt management that would cut on expenses and the interest paid on debt by having more responsible personnel overseeing the accounts and their ...

Identity Fraud

A commonly utilized social network media referred to as Facebook is a characteristic feature in the social life of the American college students. However, the safety of the social networking site remains a mystery (McNally, 2012). Is there a possibility for identity theft in Facebook?
Various reports circle around regarding the identity theft, sexual assaults and stalking. The three problems arise in the social network site due to the forms of the enlisted information (McNally, 2012). The listing of personal details on the profiles of the network site further exposes users to the possibility of identity theft. Exposing a user’s full ...

The local business is a small chain restaurant located inside a shopping mall, which offers a mix of American and Mexican cuisine. The business uses around 150-200 square meters of space with the kitchen at the back portion separated from the dining segment with a wall and a swinging door. The business has around 7 employees manning the dining section of the restaurant with one employee manning the entrance, the manager, a cashier and four other employees, which are considered as the waitstaff. The business has a single entry/exit point, which is manned by one employee for the purpose ...

Introduction

The advent of the Internet has revolutionalized the way companies and individuals conduct business, and have necessitated the proliferation of processes involved in honoring transactions through diversified payment methods. Mobile wallet denotes mobile technology that functions like a real wallet by facilitating online payments and purchases (Amoroso et al., 2012). The ease and convenience of operating a digital wallet have made the platform to attract wide spread interest. This paper is devoted to the usage of mobile wallets, their advantages and possible problems. The number of users with smartphones grows from year to year. In this case, mobile wallets ...

Introduction

The banking industry is a major target of the increasing levels of Internet fraud and scams. With the advancements in technology, cybercriminals have developed more sophisticated tools for stealing money from banks, which can result in millions of dollars of financial losses for these banks (Constantin 2012).
For Secure Future Savings Bank, in particular, Internet fraud and scams can disrupt its online banking operations. With online banking being so popular among Future Savings Bank’s customers due to the convenience and ease it brings them (Why is online banking is so popular these days? n.d.), disruptions in these operations ...

Introduction

The cases of corporate fraud have increased recently where organizations have suffered huge financial losses as a result of this practice. To curb this problem, accounting and audit professional bodies have come up with comprehensive internal control requirements that need to be adopted by public organization to minimize cases of fraud and risks mismanagement (Sebastian, 2011). This paper analyses how these rules can be implemented in the organization.

Benefits of internal control programs

A good internal control program provides management of the organization with an assurance, which is independent on the effectiveness of governance. The program will ensure that there is effective evaluation of all ...

Business

Question 1

Product life cycle has 4 stages namely; the introduction stage, growth stage, maturity stage and decline stage.
In the introduction stage, the product of a company is in its early stages where it has just been launched. In this stage, the company has not yet started to receive any profit from the product which has been introduced or launched. The product is usually promoted, marketed and distributed during this stage and it faces no competitions from similar products of different companies. During this stage, the company which has introduced the product in the market or launched the ...

Identity theft is a fraud-related crime that primarily involves an individual accessing and at the same time misusing another person’s identifying information (Morton, 2014). In this case, the information might even include pin numbers, credit card information as well as social security numbers. This information might be accessed through illegal and unauthorized access to government and even financial institution or through identity theft. As an attorney, I would charge Gorski as an identity thief since the cards in the briefcase contain identities of other individuals. Counterfeiting is another crime that involves goods and services that appear as if they ...

Executive summary

In recent years, a lot emphasis has been put on the various types of corporate or white collar crime. This report analyses various methods of preventing white collar crimes. The report discusses various types of white collar crimes and how they are committed. It also illustrates some of the schemes often used to commit these crimes and their consequences. Finally, the report discusses steps that can be used to prevent white collar crimes. Mainly, the purpose of this research is to help employers understand the significance of the global effort to develop more durable businesses. It also illustrates ways of ...

Nature of the entity

Abercrombie & Fitch Co. (“A&F”) refers to a Delaware company incorporated in 1996. Abercrombie & Fitch Co. A specialty retailer, it operates direct-to-consumer operations and stores that supplies sportswear apparel, accessories, and personal care products. These products are sold under Abercrombie & Fitch, Hollister brands, Gilly Hicks, and Abercrombie kids. The company maintains similar store formats and display of merchandise irrespective of the store location. As of January 2012, Abercrombie & Fitch Co. had 1045 stores, 946 of which are located in the United States and 99 other in international locations. Generally, the company operates a fifty-two week fiscal year ...

Is our election process fair to everyone?

Introduction
The thesis of the paper is that despite the multitude of claims that the 2016 Presidential Election was rigged or unfair, America’s inclusive voter eligibility, the equal opportunity of citizens to run for office, and reliable ballot casting methods ensure that the election process in the United States is completely free and fair. The main purpose of the paper is to find a common ground among supporters and opponents of the basic research question. There are two different claims which support the fairness or unfairness of presidential elections in the United States, where the backing sides’ main ...

I work as a member of the Association of Certified Fraud Examiners. This week I was going to make a presentation in one of the universities of our country. I talk about the dangers and true occurrences of fraud. I was told about the identity theft of the professors of the university. At first, there were only two victims but then during a month their number increased to fifteen. All the victims noticed unexplained charges and credit accounts on their credit reports. I became interested in this case, that was why I decided to help them.
We will try ...

The Fraud Diamond Framework was an improvement on the earlier ‘Fraud Triangle’ used by forensic accountants to detect accounting fraud. David Wolfe and Dana Hermanson proposed the change to the Fraud Triangle by adding a fourth element of ‘capability,’ rechristening it “The Fraud Diamond.” The first element in the framework is ‘Incentive’ which arises from the greed to commit fraud. The second element of ‘Opportunity’ could be a potential weakness in the system that the precise person could exploit. The third element of ‘rationalization’ happens when a perpetrator convinces his/her own self that such deceitful behaviour is worth with the risk taken.The ...

Executive summary

In recent years, a lot emphasis has been put on the various types of corporate or white collar crime. This report analyses various methods of preventing white collar crimes. The report discusses various types of white collar crimes and how they are committed. It also illustrates some of the schemes often used to commit these crimes and their consequences. Finally, the report discusses steps that can be used to prevent white collar crimes. Mainly, the purpose of this research is to help employers understand the significance of the global effort to develop more durable businesses. It also illustrates ways of ...

Internet fraud refers to a white-collar crime that as grown with the advent of the internet technology. For clarity purposes, we take the definition of the United States Department of Justice that defines Internet Fraud as “any fraud committed through the use of computer programs, internet related communication, or website trades ” (Del Armstrong and John Simonson, 2012). The consumer Internet Fraud Watch reports that the number of internet fraud incidences increased from 1152 in 1997 to 7500 in 1998. The United States Security Commission has reported that there are close to 300 cases of internet fraud daily ( Cyscope, 1998). There ...

Abstract

The Madoff Securities scandal was one of the biggest Ponzi schemes to hit America. This essay would examine the Madoff scandal from an audit perspective since it was the complacency (or collusion) of the auditors that encouraged the perpetrator of this scam. While the scam that was pulled by Bernie Madoff, was both large and difficult to spot, its detection also helped expose a crucial flaw that existed in corporate America at the time. This was the lack of regulatory oversight in the Securities business. While one could lay the blame for this scandal on the Regulator, another important ...

Introduction

Tesco dishonored its fiduciary obligations to the creditors and shareholders after giving false financial information. Ideally, the company overstated its profit by £250 million after manipulating the deals it had struck with a number of its suppliers. The accounting fraud resulted in the deterioration of the company’s reputation and a drop in its share price. As a result of this fraud, Tesco’s Chairman, Mr. Richard Broadbent resigned. In addition, eight senior executives were suspended. The company invited an external auditor, the UK Financial Conduct Authority to initiate an official investigation into the fraud. Apart from the external auditor, Tesco conducted ...

Executive Summary

Online banking is growing immensely in the modern days. It is a convenient way favored by customers because it enables them to transfer money, pay bills, and access their financial information online. On the other hand, financial institutions favor this industry because it is cost effective. However, online criminals who try to steal firms’ and client information, as well as their money have plagued online banking. Pharming and phishing are the most common attacks experienced by online account holders (Singhal & Padhmanabhan, 2008). Therefore, using an online account has become a risky endeavor that has resulted into serious loss. As a result, clients ...

This paper examines the audit expectation gap in Australia by examining the existing gap in auditing companies and the expectations of the Australian public. This paper will examine the role that auditors play in promoting financial accountability in Australia and extend of limitations. It will also look at the prevailing literature and studies on the expectation gap. Finally, the paper looks at some of the steps that have been taken to address the audit gap.

Introduction

Audit expectation gap refers to the difference in perception of the auditors' role and responsibility between the auditors and other third parties as they ...

The reason for carrying out this work is to identify the problem of credit sales fraud with our principal focus falling on Milwaukee Marriot Downtown. The primary objectives of this chapter are to come up with a descriptive survey method to collect data from business enterprises in Milwaukee Marriot Downtown regarding the issue of credit sales fraud, describe the sample selection, explain the procedures utilized in designing data collection instruments, and lastly identifying the statistical methods for analyzing the collected data. For this research, the best descriptive research method to use to gather information is the questionnaires. The polls ...

[Accounting]

Publicly traded firms are the main object where financial statement fraud takes place. ACFE Fraud tree includes 51 various sorts of fraud schemes, 20 of which cover 80% of the fraud accomplished. Fraudulent financial statements are executed by an executive manager. The level of frequency is 7, 9%.
There are several signs of fraud schemes: flows of cash and A/R that have no connection to do with earnings, allowances that do not correlate with A/R, reserves that do not correlate with Balance sheet items, purchasing without an apparent corporate aim, earnings that regularly and precisely cover expectations. The ...

Management

2016-04-01

Introduction

This paper is devoted to the usage of mobile wallets, their advantages and possible problems. The number of users with smartphones grows from year to year. In this case, mobile wallets have quickly become popular technology. Nowadays, more than twelve percentages of users with smartphones make mobile payments.
There are several main players in the mobile wallets arena. They are PayPal, Apple Pay, Goggle Wallet, Android Pay and Samsung Pay (Voo, 2013). There are some applications, which are available for both platforms (for example, Square Wallet). As a rule, retailers’ merchants and payment providers cannot track the buying ...

In 2012, the federal government recovered in excess of $3.8 billion (including $2.2 billion from a leading pharmaceutical company) in judgments and settlements under the False Claims Act, 31 U.S.C. §§ 3729-33 (the “FCA”, “PL 99–562” or the “Act”). This was until then, the second largest haul. By the close of 2012, in excess of $17 billion had been similarly recovered in the preceding five years. In January 2013, more than 846 cases were pending, of which whistleblowers filed 752. The increasing number of quit tam cases is a testament to the increased investment in the same by whistleblowers as well ...

Cybercrime: Running and operating

Introduction
In discussing cybercrime, President Barack Obama stated that cyber criminals stole as much as one trillion dollars from companies and businesses across the world in 2013. The foreboding threat of cyber-criminality and the relative ease of accessing databases across the globe, countries and companies are faced with the enormous challenge of not only countering the problem, but also innovating their operations and cyber infrastructure.
Crimes committed with the use of cyber-technology are common crimes, the difference being these crimes are amplified by the “use of computers, computer networks, and other forms of information technology.” Compared to ...

Is there sufficient security for consumers when shopping online?

Project 2
Tina & Amir 2014 Essay part 1

Introduction:

Definitions:
Spamming is defined as the use of electronic messaging systems to send unsolicited messages to customers especially in advertising and also known as junk (Godwin J, 2001). In addition, the definition of checkout process is the step that a customer should go through when checking out the items in the cart. This is what the user sees at the frontend in a screen while he attempts finish online shopping. Identity theft is action that occurs when hackers get a some of personal information from consumers and use that information without the ...

Assignment 1

Relationship between trust, respectability, risk, and white collar crime, and how the relationship differ when crime involved is conventional, rather than white collar.
White collar crimes are in most instances committed by people of high authority, and who command higher respect in societal set up. These people, in most of the occasions come from successful businesses either as owners, managers, or in a senior position able to make command, and decisions regarding the business. Government personnel have also in the recent past been involved in white collar crime, and this trend has been on the increase not only on ...

Introduction

The voter identification laws have brought controversy and suits in the courts of law. The policy is seen as discriminative by those opposing it, while its supporters see it as a way of preventing voting fraud and malpractices. This paper shall analyze the voter identification law and policy, with focus on California State, in determining its value in the society.

Federal Identification Requirements

Help America Vote Act (HAVA) 2002, created the requirement of a voter ID for first time voters who register by mail. The requirements must be met the first-time one vote’s in any state in a federal election - even regardless of ...

Major retailers and manufacturers cry foul because of the online couponing problems. Only two cases of prosecuted or investigated coupon fraud were reported from 1986 to 2001. Nine of similar cases were reported in 2007. On the other hand, in 2008 to 2009, ninety three of such cases have been reported and investigated (Zhao 2009). This signifies that for sure, the numbers of coupon fraud are likely to rise significantly. This explains how big the problem of online coupon fraud is.

Equally, there is a big problem of online coupon fraud that majorly results from the vast number of online ...

The concept of consumer protection can to be summarized as all efforts in developing structures and legal responses to outrage and crises developed by consumption of substandard products. Americans have in the past been subjected to consuming products that are a dangerous to the health. Once the dangerous nature of such products is known to the public, public outrage is usually the first response and such outrage is usually directed at any form of government, either federal or state. To this end, several government agencies and bureaucracies have been developed to address protection of consumers. These agencies have either federal ...

The term credit card fraud usually refers to theft or deceit, involving credit cards, and attempting to withdraw funds or purchase goods without the authorisation of the card owner. The most common ways to conduct such fraud are forging the legitimate cards, stealing the card before it has been received by the owner, stealing, appropriation of lost cards, identity theft and fraudulent transactions, conducted with the card number over the phone or internet.
In order to avoid credit card fraud it is important to remember a set of rules to follow. Firstly, never lend the card to anyone. Never ...

Abstract

Fraud in the resume of job candidates is on the rise. This has been necessitated by stiff competition given that there are few jobs and many applicants. Misrepresentation of facts can have a negative impact on an organization. It can make or break it. There is a chance of an organization hiring a crook who could defraud it or steal using its facilities or name. Worse still, there is the issue of an organization’s reputation being tainted due to poor quality services or poor quality products made by its personnel. This can be nipped in the bud by ...

A visit to the local small supermarket which does not belong to the big chains that have the last invention equipment for preventing from fraud shows multiple possibilities of performing small crimes that, if they persist, can cause big damages to the owner.
There are five departments in the store: food (fresh and frozen) department; fruits and vegetables department and department for different house wares. The biggest is the food-staff department which occupies about three thirds of the place of totally 600 sq. m. At the exit gate there is a small kiosk for cooked food and sweet shop. ...

2016-04-07

Functioning of the Hotel 3
Functioning of the Bank 7
The Approaches of Both Organizations 9
Limitations of Both Organizations 9
III. Conclusions and Recommendations 12

References 14

Introduction
This paper is devoted to the two service companies, which operate in the United Kingdom. The first one is a hotel in London. Its name is Ramada London Finchley. It is one of the eponymous hotel chain Ramada. The hotel is located near the Alexandra Palace and East Finchley subway station. This hotel belongs to the three-star hotels and provides a wide range of hotel services to the customers.
Another service company ...

Introduction

Recently, the problem of corporate crime and ethical misconduct had seriously aggravated. More often ethical misconduct and non-compliance occurs in the field of environmental regulation, health care, securities law, and safety regulations. Nowadays whistleblowing is recognized as a tool of detection and prevention of malpractice and corruption. The motivations of whistleblowers are different including protection of human rights, fairly paly, disclosure of malpractices, human safety, and adherence to laws. Thank to whistleblowers, corruption practices are revealed. Meanwhile, whistleblowers often suffer from the disclosures they initiated because disclosure meets with resistance from the side of corrupted structures. Therefore, whistleblowers ...

Benford's law also known as the first-digit law deals with the distribution of natural numbers in which it tends to major into their importance regarding significance. The law states that given any arrangement of natural numbers, the smallest number always seems to be the most significant while the largest number in the collection is always the least significant. Therefore, number 1 appears to be the most significant in any given combination of natural numbers 30% of the times. While on the other hand, number 9 appears only 5% of the times as the most significant number. The law states ...

Part A

The three basic categories of burglars are: (1) low-level, (2) mid-range, and (3) high-level. Categorizations were made according to the age and manner of committing burglary. Low-level burglars are usually amateurs and belong to the younger age group. Burglaries are committed based on opportunity alone or without planning. Once the opportunity to commit burglary presents itself, there is little time gap between the discovery of the opportunity and actual commission of the crime. Mid-range burglars are older than the low-level burglars. They usually have legitimate jobs and commit burglaries on occasion. They are not necessarily professional burglars. They are ...

[Subject/Course]
[Submission Date]

Introduction

There are a number of policies in place for pharmaceutical and medical device companies that require every employee to act in accordance with all appropriate laws and regulations devised at both state and federal levels. It is important to fully comply with these policies in all aspects of business, including advertising, marketing, selling, contracting, development, research, etc. The Federal Anti-Kickback Statute and Federal False Claims Act are two major governmental laws that are regulated in the United States of America. There are many states in USA that have enacted related laws in order to penalize the ...

Works Cited 9

Preface
Enron Corporation was American based energy, commodity and service organization that was established in 1985 by Kenneth Lay in Omaha. The company was formed by merging Intermorth organization and Houston Natural Gas. Over a period of time after its formation company shifted its focus from energy trader to energy bank by giving guaranteed quantities at fixed prices for long-term. The company was bankrupted on 2nd December 2001. Before its bankruptcy the company was one of the major operators in energy sector. It owned energy plants, gas distributors, water organizations and other subsidiaries to provide various services to customers ...

1.0 Introduction
Citi Group (Citi) has taken a bad hit during the financial crisis in 2008, which it continues to shoulder today, almost a decade later. The appointment of current CEO Michael Corbat in 2012 pushed the company back to the path of better reduction of non-profitability, which finally broke through in 2015 when Citi finally made positive profits beyond its 2015 breakeven target. The succeeding sections explored this journey of challenges and promises as clearly as possible.
2.0 Mission and Vision: Impact to Primary Stakeholders
Citi’s vision and mission focuses on the customer as a financial services ...

Background

Earnings Management
Earnings management could be defined as activities that involve legal and reasonable management the ultimate aim of which is to achieve financial results that are not only predictable but also very much stable. We wouldn’t be wrong if we said that earnings management is the complete opposite of management which involves illegal activities and financial representations which do not reflect the true and accurate economic state of the company. These types of activities are also very commonly phrased as ‘cooking the books’. Earnings management could ultimately turn into a problem with the money making goals set ...

Currently, over 80 percent of business transactions are governed by contractual agreements. In recent years business contracts have become significantly more complex with complicated legal language and a numerous of terms and conditions governing the terms of the contract. Contracts is an agreement binding two or more people. The agreement can be on behalf of persons or companies they represent. There are certain legal requirements that must be adhered to for a contract to be enforceable, but they are seldom an issue in business contracts. The business contracts do not have to be written because they are enforceable in a court of ...

There are four American Institute of Certified Public Accountants Standards of reporting. First is that the auditor should say whether the financial statements are submitted in a manner conforming to accounting principles which are generally accepted. Second, the auditor of show in the auditor’s report circumstances which the principles have not been observed consistently currently in relation to the prior period. Third, the auditor should also state in the auditor’s report if they find out that informative disclosures are not very adequate (Tracy, 2009). Lastly, the auditor is expected to state an opinion in relation to financial statements ...

Introduction

Manipulation of financial data has become one of the biggest problems, and that require measures in the world of corporate finance. Companies have been known to mislead or deceive users of published financial data especially investors as they prepare and disseminate materially misstated financial statements. This action involves intent and deception by a team of clever and knowledgeable perpetrators such as top executives and auditors through the use of well-planned schemes. This manipulation involves schemes such as misrepresentation of events, intentional omissions, wrongly execution of accounting standards and policies, and alteration of supporting documents. (Rezaee, 2003). Manipulation of financial data ...

A computer crime is defined as any form of crime that involves a network and a computer. Early computer crimes often involved physical damage to computer systems and subversion of the long-distance telephone networks. The earlier periods, 1960s and 1970s, were not common with computer crimes. Actually, the incidents were mere pranks played on the computer systems. There were also few laws against such activities and that is the reason why they were never viewed as crimes. This paper therefore discusses the history and origins of computer crime.
According to Kabay (2008), computer crime began as early as the 1870s ...

The Irish Department of Justice and Equality defines organised crime as “as an element of criminal activity carried out by criminal organizations that have as their main purpose the commission of one or more serious offences in order to obtain, directly or indirectly, financial or other material benefits.” When comparing organized crime to white-collar crime it immediately becomes obvious that these areas of crime over lap. One way that white-collar crime differs from organized crime is the organization itself, which can also involve individuals, companies or very ad hoc groups. . While some of the entities that commit white-collar crime ...

According to Barnet (2002), white-collar crime is defined as the crime committed by people that have respectable and high social status in different occupations and societies. However, the definition does not delineate the scope under which the criminal behaviors fall in white-collar criminality. The rise of white-collar criminality resulted from the difference in inattention given to it compared to the street level crimes where offenders were of low status. The definition of white-collar criminality varies depending on the type of offender, type of offense, and the type of organizational culture in which the crime is committed. For instance, the ...

INTRODUCTION

Martha Stewart was indicated for Securities Fraud. However, she was acquitted of the charges, but instead found guilty of obstruction of justice and making false statements. As a result of the finding of guilt, she served five months in federal prison. There are many opinions concerning the evidence presented in the case against Martha Stewart for violation of the Securities Act. Some legal scholars claim that she was guilty of insider trading while others claim the court properly found the evidence lacking and her actions not in violation of the securities law. Presented in this paper are two scholarly ...

How to Reform Corporate Ethics in American Business Today

Corporate ethics is an important sphere of American business the regulation of which is of utter importance. It comprises the rules how the company operates: its management, control and responsibility for improper actions. The regulations of corporate governance and implementation of effective corporate ethical standards affect the situation of the economy of the state. Inefficient regulations may lead to huge problems, such as the Great Depression of 1933, ENRON case of 2007, global financial crisis of 2008, because of which the whole world economy was negatively affected, a lot of investors were defrauded, money stolen and etc. Scholars believed ...