...CASE STUDY Luxottica Retail Case Study Retail Executive Summary Challenge Use a robust hosted solution to provide a single point of contact for delivering on boarding, sales, procedural, compliance, leadership and continuing education courses to more than 38,000 employees in more than 6,200 locations worldwide. Solution • SuccessFactors Learning • iContent Results • Luxottica can now pick and choose highly targeted content – and pay only for courses that will be used. • Content can be purchased and available within 24 hours compared to the previous method that had up to a three month-long time frame. • Purchasing, catalog updates and reporting are handled by just one project manager and one system administrator. • Content and the SuccessFactors LMS contributed to the integrated talent management strategy that earned Luxottica eLearning! and Bersin & Associates’ 2008 Learning Leaders Award in the category of Learning Initiative Excellence. Luxottica Retail, a business unit of Italian eyewear giant Luxottica Group, is one of the world’s leading operators of optical stores. With both franchised and company-owned stores, its chains include LensCrafters, Oakley, Pearle Vision, Sunglasses Hut and in-store optical centers for Sears and Target, as well as optical manufacturing centers and wholesale divisions across the globe. In order to train and manage its diverse and geographically distributed 38,000 employee population, Luxottica has invested heavily in implementing job...
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...AIS Case #1: Chapter 3: Coupon Accounting #52 In order for a fraud to be perpetrated, three conditions must exist. According to Turner and Weickgenannt (2012), “known as the fraud triangle” (p. 80) they are conditions, incentive, opportunity, and rationalization to commit fraud. By understanding these conditions businesses will be able to create effective and quality internal controls system that will help prevent fraud and fraudulent financial reporting, such as the one presented in this case. Even so, with the best set of controls businesses are still susceptible to fraud. As I examined this case study concerning coupon accounting abuse I will answer questions pertaining to company controls, ways to prevent coupon abuse, parties who may be harmed, and the type of fraud presented in the case. a. Discuss whether the situation described can happen to a company with a good control environment. It is imperative for a company to have good internal control environment. Internal control is defined as, “policies and procedures designed to provide management with reasonable assurance that the company achieves its objectives and goals” (Arens, Elder & Beasley, 2012, p. 290). Thus, internal control ensures all business or organizational processes meet these demands. A company that has a good control environment will help deter fraud. According to Turner and Weickgenannt (2012), “The control environment sets the tone of an organization and influences the control consciousness...
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...are called the financial statements. They typically include four basic financial statements, accompanied by a management discussion and analysis: 1. Statement of Financial Position: also referred to as a balance sheet, reports on a company's assets, liabilities, and ownership equity at a given point in time. 2. Statement of Comprehensive Income: also referred to as Profit and Loss statement, reports on a company's income, expenses, and profits over a period of time. A Profit & Loss statement provides information on the operation of the enterprise. These include sale and the various expenses incurred during the processing state. 3. Statement of Changes in Equity: explains the changes of the company's equity throughout the reporting period 4. Statement of cash flows: reports on a company's cash flow activities, particularly its operating, investing and financing activities. Different countries have developed their own accounting principles over time, making international comparisons of companies difficult. To ensure uniformity and comparability between financial statements prepared by different companies, a set of guidelines and rules are used. Commonly referred to as GAAP, these set of guidelines provide the basis in the...
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...Research report: 21 Disabled people’s experiences of targeted violence and hostility Chih Hoong Sin, Annie Hedges, Chloe Cook, Nina Mguni and Natasha Comber Office for Public Management Disabled people’s experiences of targeted violence and hostility Chih Hoong Sin, Annie Hedges, Chloe Cook, Nina Mguni and Natasha Comber Office for Public Management © Equality and Human Rights Commission 2009 First published Spring 2009 ISBN 978 1 84206 123 7 Equality and Human Rights Commission Research Report Series The Equality and Human Rights Commission Research Report Series publishes research carried out for the Commission by commissioned researchers. The views expressed in this report are those of the authors and do not necessarily represent the views of the Commission. The Commission is publishing the report as a contribution to discussion and debate. Please contact the Research Team for further information about other Commission research reports, or visit our website: Research Team Equality and Human Rights Commission Arndale House The Arndale Centre Manchester M4 3AQ Email: research@equalityhumanrights.com Telephone: 0161 829 8500 Website: www.equalityhumanrights.com You can download a copy of this report as a PDF from our website: www.equalityhumanrights.com/researchreports If you require this publication in an alternative format, please contact the Communications Team to discuss your needs at: communications@equalityhumanrights.com Contents List of abbreviations Acknowledgements...
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...Chapter 5 Corruption and the watchdog role of the news media Sheila Coronel The notion of the press as watchdog is more than 200 years old. Yet the idea of vigilant media monitoring government and exposing its excesses has gained new traction in many parts of the world. Globalization, the fall of authoritarian and socialist regimes, and the deregulation of the media worldwide have fuelled a renewed interest in ––as well as a surge in efforts by various groups to support–– “watchdogging” by the media. Since the late 17th Century, classical liberal theorists had argued that publicity and openness provide the best protection from the excesses of power. The idea of the press as Fourth Estate, as an institution that exists primarily as a check on those in public office, was based on the premise that powerful states had to be prevented from overstepping their bounds. The press working independently of government, even as its freedoms were guaranteed by the state, was supposed to help ensure that this was so. The 1980s and 1990s saw the revival of this centuries‐old notion and its application especially to “transition societies” then emerging from the ruins of socialist and authoritarian regimes. It had resonance among citizens facing pervasive corruption, weak rule of law, and predatory or incompetent governments unable to deliver basic services. Today even in countries ...
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...Chapter 5 Corruption and the watchdog role of the news media Sheila Coronel The notion of the press as watchdog is more than 200 years old. Yet the idea of vigilant media monitoring government and exposing its excesses has gained new traction in many parts of the world. Globalization, the fall of authoritarian and socialist regimes, and the deregulation of the media worldwide have fuelled a renewed interest in ––as well as a surge in efforts by various groups to support–– “watchdogging” by the media. Since the late 17th Century, classical liberal theorists had argued that publicity and openness provide the best protection from the excesses of power. The idea of the press as Fourth Estate, as an institution that exists primarily as a check on those in public office, was based on the premise that powerful states had to be prevented from overstepping their bounds. The press working independently of government, even as its freedoms were guaranteed by the state, was supposed to help ensure that this was so. The 1980s and 1990s saw the revival of this centuries‐old notion and its application especially to “transition societies” then emerging from the ruins of socialist and authoritarian regimes. It had resonance among citizens facing pervasive corruption, weak rule of law, and predatory or incompetent governments unable to deliver basic services. Today even in countries ...
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...Stern &Amp; Co Acc492 Case Study Fred Stern &Amp; Co Acc492 Case Study Print version essay is available for you! You can search Free Term Papers and College Essay Examples written by students!. Join Essays24.com and get instant access to Fred Stern &Amp; Co Acc492 Case Study and over 30,000 other Papers and Essays Category: Business Autor: anton 07 May 2011 Words: 2202 | Pages: 9 Week Five Case Studies Team D ACC 492 January 15, 2007 CASE 8.1 FRED STERN & COMPANY, INC. 1. Observers of the accounting profession suggest that many courts attempt to Ў§socializeЎРinvestment losses by extending auditorsЎ¦ liability to third-party financial statement users. Discuss the benefits and costs of such a policy to public accounting firms, audit clients, and third-party financial statement users, such as investors and creditors. In your view, should the courts have the authority to socialize investment losses? If not, who should determine how investment losses are distributed in our society? The word "socialize" is used to suggest a socialist society in which profits and losses are shared by and distributed to the general public by the central government through taxation, legistration, social welfare, or some other legal means. In contrast, the capitalist society is rewarded to the risk takers alone (the auditors in this case). Until the case of Ultramares Corp. v. Touche, auditors admitted no liability whatsoever to third parties. The judgment in Ultramares...
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...AUDITORS IN FRAUD DETECTION, PREVENTION AND REPORTING IN NIGERIA Ayobami Oluwagbemiga Oyinlola Mr Tai Solarin University of education,Ijagun, Ijebu-Ode, oluwagbemiga@in.com Follow this and additional works at: http://digitalcommons.unl.edu/libphilprac Part of the Library and Information Science Commons Oyinlola, Ayobami Oluwagbemiga Mr, "THE ROLE OF AUDITORS IN FRAUD DETECTION, PREVENTION AND REPORTING IN NIGERIA" (2010). Library Philosophy and Practice (e-journal). Paper 517. http://digitalcommons.unl.edu/libphilprac/517 THE ROLE OF AUDITORS IN FRAUD DETECTION, PREVENTION AND REPORTING IN NIGERIA OYINLOLA OLUWAGBEMIGA oluwagbemiga@in.com Tai Solarin University of Education, Ijagun , Ijebu-ode Ogun State. Abstract This study investigates the role of auditors in the detection, prevention and reporting of fraud. Data were obtained from 184 respondents in Nigeria. The findings revealed that the respondents are very concerned about the problem of fraud. In addition, the respondents placed very high expectation on auditors’ duties on fraud prevention and detection. This perception is in contrast with the stated primary objective of an audit, as stipulated in ISA 200, which merely required auditors to form an opinion on the financial statements, but not of fraud detection. Keywords: Auditors, fraud, detection, prevention Introduction That an auditor has the responsibility for the prevention, detection and reporting of fraud, other illegal acts and errors...
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...International Journal of Business and Social Science Vol. 4 No. 13; October 2013 Cooking the Books: The Case of Malaysian Listed Companies Fathilatul Zakimi Abdul Hamid Rohami Shafie Zaleha Othman Wan Nordin Wan Hussin Faudziah Hanim Fadzil School of Accountancy Universiti Utara Malaysia Sintok, 06010 Kedah Malaysia. Abstract Cooking the books refers to fraudulent accounting activities undertaken by a business to falsify its financial statements. Thus, the objectives of this study are to investigate what the cooking-the-books activities carried out by businesses consist of, how they conduct them, and what the impact is on the business and its shareholders. The case study sample companies are two Malaysian companies that had received various awards from reputable third-party organizations. On the other hand, the activities undertaken in both companies have caused them to be labelled as Malaysian mini Enrons. We employ a qualitative research methodology as most prior research employs a quantitative methodology to investigate the determinant factors in businesses’ cooking-the-book activities. The result of the study shows that the managers have used their positions, prior experience, and regulatory loopholes in their activities. Furthermore, the financial report restatement and higher reported earnings are the early warning signals of their activities. As a result of this, the Malaysian Securities Commission has revised the corporate governance code, and among others incorporated...
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...level. Political parties are ranked as the most corrupt institution in Italy, closely followed by public officials and Parliament, according to Transparency International Global Corruption Barometer 2013. Regarding business and corruption, foreign investments and economic growth are hindered by organised crime and corruption. Business executives from World Economic Forum Global Competitiveness Report 2013-2014 consider corruption one of the problems for doing business in Italy Procurement process, mainly in water, roads and railway projects, in Italy is affected by corruption. ------------------------------------------------- CORRUPTION CHALLENGES Government and politics Checks and balances in the Italian government are compromised. A 2012 study indicates that the legislative branch has little independence from the executive. This creates a disparity in power and enables the executive to govern without appropriate accountability. Integrity mechanisms are also poor in the public sector. According to a 2011 report, parliamentary and government codes of conduct are aspirational at best, and not enforceable. Weak – and often non-existent – sanctions cannot effectively deter corrupt acts. National corruption scandals also undermine public officials’ image. Political financing Corporate donations to political parties and candidates are unregulated. Although there are constraints on election expenditure, there are no limits on donor contributions to parties or candidates....
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...Case Study – 1 Answer a) In the era of free trade and globalization, businesses having interest and investment in different countries and enjoying fruits of joint venture with group of companies. In the given scenario there is a prime necessity to establish such a system that gives true and fair view of accounting reports. These consistencies in reports are intended to provide easier reports to stakeholders across the borders to measure and compare performance in international accounting reports standard. In earlier times UK accounting is providing useful information to shareholders, with a distinct from tax reporting. The implementation of IFRS has brought about significantly greater consistency in accounting recognition and measurement and far greater disclosure of information in financial statements. The implementation of IFRS in the UK brings better resource allocation decision. Because of all these reasons UK have adopted International Financial Reporting Standards. b) Apart from the global benefits of using similar accounting standards, convergence of UK GAAP with IFRS. The IFRS financial statements are significantly more complex than financial statements based on national accounting standards of UK. This complexity threatens to undermine the decision usefulness of IFRS financial statements. According to reports of Earnest & Young in 2006 UK businesses are upset as there are small number of technical experts have a good understanding of the more complex accounting...
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...meaningless. The enterprise of assessing the determinants of vote choice is an extremely complicated one that suffers from several common difficulties. The first is the availability of data. Panel studies and surveys are expensive and time consuming, and therefore not consistently performed. This hodge-podge of available data forces researchers to draw broad conclusions from data covering limited periods of time. For example, Marcus and Converse used data from two elections. The Kiinder and Abelson piece discussed by Asher found that candidate assessment fell along two separate dimensions – competence and integrity, yet the data was drawn during the Carter administration. Carter may be a uniquely extreme example; an individual especially strong on integrity and weak on competence. Similarly, CCMS drew conclusions about issue salience during a particularly non-contentious time period. Many of these studies may be reporting substantially time-bound phenomena. Another difficulty arises from drawing conclusions based on particular cases. For example, Carmines and Stimson use race as the primary example of an “easy issue” and Vietnam policy as an example of a “hard issue” (both derived from data on the 1972 presidential election). Though these examples may very well prove consistent with the conclusions about...
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...CHAPTER 1 Financial Accounting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE Topics 1. 2. 3. Subject matter of accounting. Environment of accounting. Role of principles, objectives, standards, and accounting theory. Historical development of accounting standards. Authoritative pronouncements and standards-setting bodies. Questions 1 2, 3, 4 5, 6, 7, 8 Cases 1 3, 4 2, 4 4. 8, 9, 10, 11, 12 5, 17 5. 13, 14, 15, 16, 17, 18, 19, 20, 21, 22 23, 24, 25, 26, 27 28 29 6, 7, 8, 10, 11, 12, 13, 15, 16 6. 7. 8. Role of pressure groups. International accounting. Ethical issues. 9, 18, 19 15 14 1-1 ASSIGNMENT CHARACTERISTICS TABLE Item C1-1 C1-2 C1-3 C1-4 C1-5 C1-6 C1-7 C1-8 C1-9 C1-10 C1-11 C1-12 C1-13 C1-14 C1-15 C1-16 C1-17 C1-18 C1-19 Description Financial accounting. Objectives of financial reporting. Accounting numbers and the environment. Need for accounting standards. AICPA’s role in standards setting. FASB role in standards setting. Government role in standards setting. Meaning of generally accepted accounting principles. Politicalization of standards setting. Models for setting accounting standards. Standards-setting terminology. Accounting organizations and documents issued. Accounting pronouncements. Issues involving standards setting. Securities and Exchange Commission. Standards-setting process. History of standards-setting organizations. Economic Consequences. Standards-setting process, economic consequences. Level of Difficulty...
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...measuring something we increase the likelihood of success ii. Because that allows our IT Center to be more like a Profit Center iii. Because that allows the Management Team to find the strategic business value of IT iv: Because it uses valuable resources, namely time Select one: a. i, ii, iii b. i, ii, iii, iV c. ii, iii Question 3 IT-Business Alignment demands a strategic process to be in place. According to the Strategic Process we learned in class from the Institute for CIO Excellence, IT initiatives should be ranked in terms of: Select one: a. Payback Period b. Other c. Internal Rate of Return d. Net Present Value Question 4 The main point of this case is to show that there are always advantages from standardizing the IT Function across business units. Select one: a. False, the purpose of the case is to highlight that while...
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...Research Study Capital-Market Effects of Corporate Disclosures and Disclosure Regulation Christian Leuz Peter Wysocki June 26, 2006 Commissioned by the Task Force to Modernize Securities Legislation in Canada Christian Leuz Christian Leuz is currently the Professor of Accounting at the University of Chicago, Graduate School of Business. He is also the David G. Booth Faculty Fellow. Prior to this position, Professor Leuz was the Harold Stott Term Assistant Professor in Accounting at the Wharton School of the University of Pennsylvania and Fellow at Wharton’s Financial Institution Center. His research interests include transparency and corporate governance, financial disclosure and securities regulation, and the links between the institutions of market economies. Professor Leuz earned his doctoral degree and “Habilitation” at the Goethe University Frankfurt in Germany. His most recent publications have appeared in the Journal of Financial Economics, the Journal of Accounting and Economics and the Journal of Accounting Research. He is an Associate Editor of the Journal of Accounting and Economics and serves currently on the Editorial Board of The Accounting Review, the Journal of Accounting Research, the Journal of Business, Finance and Accounting, and the International Journal of Accounting. He has received several grants and honors, of which the Geewax Terker Prize is the latest. Peter Wysocki Professor Peter Wysocki is an associate professor of management at...
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