...The University Art Museum Case Analysis Suzana Duran MNGT 372 Professor Quimei Xu I. Relevant Facts/Background The Art Museum is a building on the university premises that is providing a place for the art collection of a university. The building was given to the university by an alumnus around 1929. The wealthy son of the university's first president served as the museum's unpaid director until his death. He brought a few extra collections to the museum during his service, and while serving as unpaid director, none of the collections was ever shown to anybody except a few members of the university's art history faculty. The university practically gave the position to amateur art supporter, Miss Kirkoff, after the director’s death. She used museum for academic purposes for the university alumni only. Miss Kirkoff cataloged the collections and carried out new gifts. The museum was remodeled to include an auditorium, library, and classrooms. The University Art Museum’s director, Miss. Kirkoff resigned after almost 50 years of working there. In September of 1998 new directorship has been passed on. New director used museum as community resource by which he meant that is open to everyone not just to the students at the university. That was the big problem for the students and the faculty at the University Art Museum. Classes and exhibitions lost interest with the students, and the last director was let go after three years of service. II. Problem Definition-Issues The...
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...1.0 INTRODUCTION Based on case study A Delima, students are required to identify issued based on certain topics. Before that, we are required to present our ideas and evaluate plans and strategies to overcome problems by applying relevant techniques during our class. In this case relate to the concept of true and fair view of Financial Statement and focused on skills and attitudes of people in an organization. Moreover, this case make us understand and shows accountant should comply with the Malaysia Financial Reporting Standard (MFRS) and International Financial Reporting Standard (IFRS) respectively to show the reliability of Financial Statement. Besides, we are able to know the importance of corporate governance in the business world. A part from that, we are notice about the principle of separation of ownership and management in the company relating to the director’s fiduciary duty to the company. Plus, we need to recognize the code of ethics for Company Secretary. Last but not least, we should consider other aspects in this case to reflect the best recommendation to achieve the effectiveness and efficiency of the business management. 2.0 OVERVIEW OF THE CASE A Delima case is about family businesses that are set up by Encik Zayed and Puan Hashimah. It conducted trading and supplying related products including manpower supplies to the oil and gas industries. Later in 2004, due to encouraging business growth, the enterprise was incorporated as Delima Enterprise Sdn...
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...Fact of the Case This suit regarding damages for breach of fiduciary duty where plaintiff claimed against the first defendant and 3 others who holding director position in Kesang Corporation Bhd ('KCB') for transfering a property owned by him to a third party without his concern. The property is an apartment in Tanjung Tuan Port Dickson which was bought from a company known as Tanjung Tuan Resort Development Sdn Bhd which then transferred to KCB and then to third parties. The plaintiff's claims against the second, third and fourth defendants have previously been withdrawn. Plaintiff claimed against the first defendant for damages for breach of fiduciary duty as a director of the plaintiff's company. The trial of the case began on 21 March 2005. While the present case of trial still ongoing, Plaintiff applied to obtain a leave of Bankruptcy to proceed against the first defendant pursuant to Bankruptcy Act 1967 on 23 January 2007 who had hear adjudged as bankrupt on 11 July 2005.The case call up for continued hearing on 30 March 2007. The first defendant counsel inform the court that he had applied to the Director General of Insolvency for sanction pursuant to s 38(1)(a) of the Bankruptcy Act to defend the action and to retain Messrs David Lingam & Co as his solicitors and Mr. David Lingam as his counsel. On 13 September 2007, Encik Zahari who represented the Director General of Insolvency and Encik Sadacharam Raman as amicus curiae applied for an adjournment for sanction...
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...these corporate scandals; and third, it is to recommend the possible actions and preventive measures to curb these scandals. 1. Introduction In the recent years, the public and business community have been surprised with the exposure of many corporate scandals and accounting fraud by the managers of the company. It disappoints many stakeholders as after the financial crisis in 1997, many efforts have been initiated and implemented to strengthen the business control and foundation of the company. One of the important lessons learned from the financial crisis in 1997 is the weaknesses in the governance of the company such as too much power is given to a single person in managing the company, weak internal control and poor work of the directors that leads to the failure of the company. Due to this, a total regulatory and governance were embarked all over the world. Just to name a few, in the US, the Sarbanese Oxley Act was established, while in the UK the Code of Corporate Governance was extensively revised to stop all these corporate diseases from spreading and becoming a cancer for the global business community. However, all this effort has seemed fruitless as after the heavy debate and discussion and huge struggle by the regulator and market administrator, these corporate scandals are still returning but with more scaring facts. 1.1 What do we mean by Fraud and Misconduct • Fraud is a broad concept that generally refers to “any intentional act committed to secure...
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...showing a family known as “the Finches” experience and face the trials of living in a small Alabaman Town called Maycomb. The book itself was written by Harper Lee, a Pulitzer Prize winning novelist. When the novel was turned to a movie, there were many challenges that the director had to face while turning this classic novel into life. The director Robert Mulligan had to make sure the movie itself is an excellent adaptation of the book within the restrictions of creating a movie such as time limit, audience restrictions, money, and making sure to not replicate the entire book. This is why a book is better in an aspect as there are not as many restrictions to when creating a book compared to a movie. The film and the novel itself has many similarities and differences, however it is upon whether or not the film is a successful adaptation and portrays the theme of racial injustice. This film is a reasonable adaptation as it demonstrates the message of the film using the same context as the book and brings the characters to life in a creative way. There is great screenplay and dialogue amongst the characters which allows the audience to understand the movie thoroughly. However, there are key components which are missing from the novel that pay resemblance to the message that could’ve made this movie more outstanding in relation to racism. In order for the film to be an effective adaptation, it must have the same storyline, good development of characters, and portray the same message as...
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...|Improbable Plot Casts Unflattering Light on SNC-Lavalin | | | | |In October of 2012, one of Canada’s largest engineering |merger of two Montreal-based engineering firms in 1991. SNC | |companies, which was also one of the world’s five largest, hired |was established by Arthur Surveyer in 1911 while Lavalin’s | |a new CEO in what looked like the next chapter of an ongoing |precursor company was crated by two engineers in 1936. Bernard| |attempt to put a series of revelations about unethical and |Lamarre was named President and CEO in 1962, and still led | |potentially illegal dealings around the world behind them. While|Lavalin when the merger happened. During the late 1980s it was| |the company had fired some key people who were connected with the|Mr. Lamarre’s projects that a young Riadh Ben Aissa worked | |scandals, there were those who publicly mused that the reported |on—and the two of them became know as the “firemen” for their | |unethical and illegal dealings weren’t just the work of a rogue |abilities to handle complicated situations successfully. | |international VP, Riadh Ben Aissa, but that Mr. Ben Aissa’s way | | |of doing business was well-understood...
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...The Case of Crocker v. Pleasant Ashley H. O’Dell MTS 120 Mortuary Law Carl Sandburg College The case of John Crocker vs. Richard Pleasant is about a family suing West Palm Beach Office Richard Pleasant, The City of West Palm Beach, West Palm Beach. The case was heard by Circuit Judge Moses Baker of West Palm Beach. The case goes as follows….Jay Crocker’s body was found on fire by rescue workers in an alley in West Palm Beach on December 5, 1995. He remained unidentified for three days when a hotel clerk contacted the police telling them that the person who checked into a room there had not returned since the body was found burning. He speculated that the body could be the guest who hadn’t been seen since he checked in on December...
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...Corporate Social Responsibility and Governance (FINM024) Assessment 1 – Case Study Aim: The case study aims at testing students’ understanding of the role of corporate governance in today’s business, how to establish good corporate governance practices, how to maintain an effective internal control system and assess control risk, and how to protect the organisation against fraud. Instructions: Students are required to read the case carefully before attempting the questions. All sources used must be cited using the ‘Harvard Referencing Guide’ in order to avoid plagiarism. Students MUST structure their answers as required. Please try to avoid language and grammatical mistakes, writing incorrect answers, and writing more than what is needed. Please read the questions carefully before answering them. Academic Honesty: Plagiarism will not be tolerated and could lead to your failure, so please make sure to use your own words in answering the case and to cite all the sources used. Please refer to Harvard Referencing guide to understand how to properly cite the sources used. Deadline and Submission: The deadline for submission is 10th April, 2015. All submissions have to be via Turnitin on NILE. Any submissions via email will be automatically discarded without prior notice. Students are only allowed to submit their assignment once, so no draft submissions will be accepted. Late submissions will not be accepted. If there are circumstances beyond the student’s control that deprive...
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...CEO in what looked like the next chapter of an ongoing attempt to put a series of revelations about unethical and potentially illegal dealings around the world behind them. While the company had fired some key people who were connected with the scandals, there were those who publicly mused that the reported unethical and illegal dealings weren’t just the work of a rogue international VP, Riadh Ben Aissa, but that Mr. Ben Aissa’s way of doing business was well-understood within SNC. While Mr. Ban Aissa was detained in jail in Switzerland on suspicion of paying bribes in order to get contracts in North Africa, including Libya, the new CEO, Robert Card, stated that sorting out the payments scandal would be the job of the company’s Board of Directors and his job would be to reassure investors by growing the business. At that time, investor concerns had caused the stock price to fall to $35 from $60 18 months earlier. Over the past three years the company had reported strong financial results. In 2010, SNC-Lavalin’s revenues had been $6.0 billion and profit reached a record $477 million. In 2011, revenues had grown to $7.2 billion but profit declined to $379 million, partly as a result of the pullout from Libya, but still the second highest in company history. In 2012, the revenues were again trending up with an expected total of over $8 billion and profit of around $300 million. The creation of a Canadian champion SNC-Lavalin was a 101-year old Montrealbased company with offices in...
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...European Aeronautic Defence and Space Company (EADS) Case Study On March 8, 2004 John Summers, Head of supply management strategy at EADS, a company based in Europe, got the assignment from the Procurement Directors Board (PDB) to make suggestions for improving the company’s supplier evaluation system. The proposal was to be presented at the PDB meeting the following month. John’s Suggestions for Improvement: John knew that the current supplier evaluation system had worked smoothly for more than 4 years and was well implemented. However, he was not sure whether EADS was really measuring all important dimensions of the supplier value in order to achieve new competitive advantages in the relevant markets. If you were in the position of John Summers, which general problems and weaknesses of EADS could you identify? 2. If you were in the position of John Summers, which specific problems could you identify in EADS’ current supplier evaluation system? 3. If you were in the position of John Summers, how would you define supplier value in the light of EADS’ supply strategy and its market environment? 4. John Summers has prepared a list of suggestions for improvement for the PDB meeting. As some items on the agenda were discussed longer than expected at the PDB meeting, John only has 10 minutes instead of 30 minutes to present his suggestions. So, if you were in John’s position, which 3 next steps would you present first? Why? Negotiation power of...
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...IMPROVING THE EFFECTIVENESS OF CORPORATE BOARDS The primary purpose of for-profit companies is to maximize the return on shareholder’s investment. In instances where ownership of a company and control of said company are separate, shareholders employ directors as the primary monitoring mechanism. In other words, the role of corporate boards is to monitor executive management to make sure that they manage the company in a way that maximizes shareholder value by managing the company with their best interests in mind. The scandals of Enron, Tyco International, WorldCom, and others cost investors billions of dollars and shook investor confidence in the nation’s stock markets. The global economy plunged into a recession in 2008 partly because large banks took unprecedented risks and overleveraged themselves when they invested in collateralized debt obligations (CDOs) and credit default swaps - the repayment of which was only possible if the housing market continued to increase in value. As a result of the high profile corporate scandals at the beginning of the millennium and the economic recession, experts are beginning to explore new ways to improve the effectiveness of corporate boards. According to Nicola Faith Sharpe, Associate Professor of Law at The University of Illinois College of Law, “history has shown that the scholarly and regulatory focus on board composition and structure is a dangerously incomplete solution to the problems that have caused recent corporate failures...
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...| Accreditation Audit: AFT Task Two | Stephanie Clements | | | Western Governor’s University | | Sentinel Event A sentinel event is defined by The Joint Commission as an unexpected occurrence involving death or serious physical or psychological injury, or the risk thereof (Joint Commission, 2015). The event described in the case study is a sentinel event resulting in the abduction of a child. The event begins when a child is admitted to the preop unit for outpatient surgery with her mother. The child’s mother leaves the facility during the procedure, giving instructions for the nurse to call the mother if the procedure was quicker than expected. After the procedure, the child is discharged home by the recovery room staff with her estranged father who does not have custody of the child. The child is recovered by law enforcement in the care of the father, but the potential harm and psychological damage ensued categorizes these happenings as a sentinel event. Personnel/ Personnel Issues There were several people involved in this sentinel event at Nightingale Community Hospital. Here, they are listed along with their roles and any issues involving them in this event: Person | Role in the event | Barriers | Registrar, Katie Jessup | Responsible for initial intake information and consent to treat. | Followed process as outlined. Knowledge of potential information gaps and custodial issues with children could provoke further questioning. Lack of awareness...
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...CNN) -- A Boeing 777, one of the world's most reliable types of airliners, is missing, and no one knows why. Was it a bomb? Mechanical failure? A hijacking gone awry? Pilots and others in the aviation community are deeply disturbed by the mystery surrounding Malaysia Airlines Flight 370. It disappeared Saturday en route from Kuala Lumpur to Beijing over the Gulf of Thailand, somewhere between Malaysia and Vietnam. It's hard to believe that such huge questions remain four days after the Boeing 777-200ER went missing, carrying 227 passengers and 12 crew members. A revelation Tuesday set off a fresh wave of speculation. Radar tracking detected the plane hundreds of miles off course, traveling in the opposite direction from its original destination, a senior Malaysian Air Force official told CNN. The aircraft had stopped sending identifying transponder codes before it disappeared, the official said. The new details marked a dramatic twist in the investigation. But some reports have quoted other Malaysian authorities offering conflicting information, with some denying the military official's claim. What can cause an airplane to disappear? Search underway for missing Flight 370 Authorities 'puzzled' by missing flight Search area for missing plane widens The situation is so unprecedented that experts have been careful in speculating about possible explanations. Here are four scenarios they're talking about, and the related facts: 1. Scenario: Mechanical failure? Fact: The...
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...Table of Contents Introduction……………………………………………………………………………………..1-2 Issues………………………………………………………………………………………………2 The Discovery of Fraud……………………………………………………………………..…..3-4 Corporate Governance of FCB……………………………………………………………………5 Auditor Dilemma……………………………………………………………………….……….5-7 Using the Fraud Triangle Model to analyze the situation in Flat Cargo Berhad……………..…8-9 Who is responsible in the fraud of Flat Cargo Berhad ……………………………………..…10-11 Prevention Measures for Fraud ……………………………………………………………….12-13 Detection Measures for Fraud…………………………………………………………...……14-15 Recommendation…………………………………………………………………….……….16-17 Conclusion…………………………………………………………………………...……….18-19 References………………………………………………………………………………………..19 Introduction The case is related to one company known as Flat Cargo Berhad (FCB), FCB was one of the largest air freight companies in Malaysia which servicing several government linked companies including Freight Malaysia Berhad. FCB is a listed company and was registered as an investment holding company with several subsidiaries. Among its subsidiaries are FC Spare Sdn Bhd, Cargo Management Sdn Bhd, FCB (SPV) Ltd, Cargo Air Services Sdn Bhd and FC Air Ltd. FCB started its operations in 1997 with two aircrafts: a Boeing 737-200F and a Cessna Grand Caravan. FCB’s major shareholder in 1997 had been Bangor Berhad, which was part of a diversified international family owned conglomerate, the Miri Group. On September 2001 the company was listed in Bursa Malaysia. The...
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...founded by Encik Zayed in 1981. Encik Zayed himself is the managing director and his wife, Puan Hashimah is the Chief Operating Officer. The other personnel, Puan Balqis and Encik Salam both are family members to the directors. All personnel have only secondary school background and on 2006, the company had hired Cik Amy as Finance Executive who just graduated and no working experience. In May 2006, the company secured a contract worth RM 750,000. Due to shortage of funds, the company must apply banking facilities from banks. However, the banks have required the company to submit the audited financial statement for two years which sadly, the company accounts never have been audited. Due to that, the company has appointed Aziz & Co. as company auditor. Consequently, during the performance of audit, it has been found that there were many unresolved issues and the auditor want to express qualify financial statement. But Encik Zayed doesn’t want the auditor to issue qualified audit report since that would make it difficult for the company to get banking facilities. So, he hired Cik Amy. In this case, the protagonist is Cik Amy. As new finance executive, she faced few problems. The first problem is unorganized and incomplete accounting record. For example, there was missing of Accounts Receivables listing. Due to this, the second problem arose which is to entertain and fulfill the auditor needs. In addition, the director and CEO were not familiar with Accounting Standards and the provision...
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