...| Accidents caused by human carelessness, failure to follow established procedures, and poorly trained or supervised personnel, innocent errors or omissions, lost, erroneous, destroyed, or misplaced data, logic errors, systems that do not meet company needs or are incapable of handling tasks. MOST LOSSES OCCUR HERE! | Sabotage, which is destroying a system, computer fraud, misappropriation of assets, financial statement fraud, corruption. Deliberate destruction to harm a system. (Cookie: data website store on your computer that identify the site & you do not have to log on each time you visit the site) | * The Association of Certified Fraud Examiners (ACFE) 2014 Survey Results Show: * 5% of revenues are lost to fraud (≈ >$3.7 trillion lost globally) * Median loss: $145,000 (22% of cases involved with losses > $1,000,000) * Most frauds are fairly small in scope * Median fraud scheme lasts about 18 months * What is Fraud? * Gaining an unfair advantage over another person. All five of the following elements must be present for it to be legally considered fraud: 1. A false statement, representation, or disclosure. 2. A material fact that induces a person to act (influences the decision process). 3. An intent to deceive (not accidental). 4. A justifiable reliance; that is, the person relies on the misrepresentation to take an...
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...(Bernard Madoff, 2011) This paper discusses the massive Ponzi scheme that Mr. Madoff created and those that were affected by it. 1. Describe three types of illegal business behavior alleged against Mr. Madoff and for each type of behavior, explain how the behavior is illegal or unethical in the conduct of business. Madoff reportedly admitted to investigators that he had lost $50 billion of his investors' money, and pled guilty to 11 felony counts—securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the United States Securities and Exchange Commission (SEC), and theft from an employee benefit plan—on March 12, 2009. (Biography, 2011) Mail fraud includes any scheme that attempts to unlawfully obtain money or valuables in which the postal system is used at any point in the commission of a criminal offense. (Mail fraud, 2011) By using the postal system for any of his illegal activities, he was committing mail fraud. Mail fraud is protected by the United States Code. Madoff also admitted to money laundering. Money laundering is disguising illegal sources of money so that it looks like it came from legal sources. (Money laundering, 2011) Madoff was taking the money from his investors and moving it back and forth between accounts. He was continually gaining new investors to keep his scheme going. By gaining new investors, he was able to channel millions of dollars illegally through...
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...1) We don’t think Amanda should purchase the car, not without meeting with the seller and inspect the vehicle. There is no doubt that car auctions are great places for the purchase of affordable vehicles. At the same time, buyers should be cautious with the used cars. Especially for the buyers like Amanda who has a relatively low budget. The deal seemed very attractive and suspicious in the first place, because the sale price of the car was below the reasonable average value of the market in comparison with the same type of the cars under the similar condition. Amanda did the research and found the prices ranged between $20,000 and $24,000. Furthermore, the seller claimed how great his car was, “Nice silver exterior with a great shine, car is not wrecked, dented and scratched up, it’s very nice. Car runs and drives very nice, very tight, still like new.” We could deduce the age of the car was 2 years at that time from the emails, if the car is in such a great condition and only 2 years old why the deal could be closed at only $9,000 and having a free shipping and the three days of inspection? The excuse the seller gave was “I don’t have much use for it and I could use some quick cash right now, rather than waiting for a better offer.” “My buyer couldn’t pay the car after I have made the arrangement s to ship it.” In addition, the seller reached Amanda through personal email rather than the “My Messages” in her eBay account; it could be seen as an avoidance of the eBay’s purchase...
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...Do people act against their own interests? The real life situation is significant to us due to a variety of reasons. The internet is significant to us because we are modern day teenagers, who use the internet all day every day, from talking to friends to playing videogames, doing homework and even learning a new skill. When we first encountered our real life situation, we thought that it would be a good topic because it is a very diverse and there are many things that we can discuss. However, this was also a negative because we had to talk about lots of topics in a short amount of time. Therefore, we reduced the topics so that we could focus more on the topics that we already chose. Internet fraud is another part of the internet which shows people acting against their own interests. This is where internet software is used to defraud or take advantage of individuals. Fraudsters can use the internet to obtain personal details of the victim, leading to identity fraud. Also, they can show possible victims products or services, leading to fraudulent transactions. Internet fraud can be used in emails, chat rooms and social networking sites. An example of internet fraud that took place a few months ago was when a father of one from Nottingham wanted to buy the Xbox one for his son. He had seen an Xbox one for sale on eBay. He also looked at the buyer’s reputation which was positive. After giving away £450 of his hard earned cash, he found out that it was only a picture of the...
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...Importance of forensic accounting and fraud awareness in Malaysia As a result of recent, highly publicized financial scandals; reported increases in occupational fraud; and heightened concerns over money laundering to support terrorism and racketeering, legislative mandates and public expectations have heightened the necessity to hrther define the auditor's and accountant's responsibility for detecting fraud within organizations. Successful fraud or forensic accounting analyses and findings reported by practicing professionals may be the difference between whether perpetrators avoid detection of their illegal activities or they are brought to justice. In most cases, success is directly and primarily dependent upon the knowledge, skills, and abilities of the professionals performing the work. Consequently, the demand for entry-level professionals with formal education in fraud and forensic accounting has grown. Academic institutions and stakeholder organizations that provide education in these fields are faced with a number of questions regarding the nature, extent, and format of a worthwhile curriculum. A review of existing higher education institution offerings indicates that the number of courses available varies from a single class to programs of 4-10 different courses. Programs are offered at the undergraduate and graduate level as majors, minors, tracks, or as nondegree "certificate" programs. Further, job opportunities and the student applicant pool are likely to vary...
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...strategy turned out to be nothing but a huge ponzi scheme affecting thousands of investors from around the globe. Although many financial advisors questioned his strategy and argued that it is virtually impossible to achieve, he managed to hide his scheme for many years. Why did Madoff got away with his fraud scheme for so many years? This is not a million dollar question as many would argue. The answer comes down to trust and greed. Investors trusted him because he had strong financial expertise and experience, he contributed substantial donations to various charities and foundations, investors were referred to him by friends and family, and he actively served on the board of directors of several high-profile companies. Greed was the other source of keeping Madoff away from getting his successful scam revealed. Investors were getting steady returns on their investments not annually, not quarterly but on a monthly basis. These returns were too good to be true but most of the investors were so happy with the profits they got from Madoff that they did not bother to further investigate and get a better understanding of his strategies. In essence, the way Madoff orchestrated his fraud scheme was by promising investors fixed returns on their investment at a relatively low risk. To gain trust in current and prospective clients, he told investors that he has using a specific strategy called “split-strike conversion” in which he would select and buy a basket of 35-50 common stocks from...
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...Concepts and Characteristics of Fraud a. Evaluation of the auditor’s fraud detection responsibilities b. Treadway Committee Report findings c. Who commits fraud and why? 2. The Auditor’s Responsibility for Detecting and Reporting upon Fraud (AU 316) a. Misstatements arising from fraudulent financial reporting – Fraud for the Entity b. Misstatements arising from misappropriation of assets – Fraud against the Entity c. The overall process: i. Identify client fraud risk areas ii. Consider client anti-fraud programs and controls iii. Respond to results of the fraud risk assessment d. Responding to misstatements identified in the audit i. Effects, if due to fraud, likely immaterial ii. Effects, if due to fraud, could be material e. Detection and reporting responsibilities within the client organization – how do we respond to fraud internally f. Responsibilities for reporting fraud to outsiders – is the same criteria for reporting fraud externally as we had to do with illegal acts. g. Audit documentation responsibilities h. Typical fraud warning signs and red flags (AU 316.85) – they are arranged by 3 elements that typically exist in some kind of combination of fraud. AU 316.85 “Examples of Fraud Risk Factors. Separately presented are examples relating to the two types of fraud relevant to the auditor’s consideration...
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...develops, and implements creative national campaigns to alert consumers to their rights and to explain the science of compliance to industry. • Enforcement litigates civil contempt and civil penalty actions to enforce all FTC federal court injunctions and administrative orders that address consumer protection issues, including advertising and financial practices. • Financial Practices protects consumers from deceptive and unfair practices in the financial services industry, including protecting consumers from predatory or discriminatory lending practices. • Marketing Practices leads the Commission's response to Internet, telecommunications, and direct-mail fraud; deceptive spam; fraudulent business. • Planning & Information collects, analyzes, and makes available to law enforcement consumer fraud, identity theft. • Privacy and Identity Protection safeguards consumers' financial privacy; investigates breaches of data security. (Vladeck, D., 2010) Betty’s Drive In Betty drove three hours in one-hundred degree heat. Explain if this fact has any bearing on whether or not the dealer must perform in accordance with published advertisement. Betty’s driving distance or the temperature has no bearing on whether or not the dealer must perform in accordance...
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...INTRODUCTION There is little doubt that no two people study the same way, and it is a near certainty that what works for one person may not work for another. However, there are some general techniques that seem to produce good results. So I decided to concentrate on working for this research because it’s very important for the readers to read this so that they have to step up in learning styles. My purpose of doing this research is to develop myself and to serve this thing as stepping stone to make a thesis and in consideration in making a book. Now I am making this just to show you how the proper process of learning is. The purpose of this research is to provide us significant ideas about real learning styles, study skills and thinking skills in analyzing some neither questions nor problems that we don’t know and to improve and enhance our memory in studying some lessons in a book. It also improves us to organize our studies, express our ideas clearly and effectively and how to communicate with others clearly and fluently. The first part of this research is focused on defining the three bodies of skills and you will know the utilization of effective language-learning strategy is. These three bodies of skills approaches us to have more experience on how to learn to be critical to success in school, considered essential for acquiring new good grades and useful for learning through out’s life. Of course this convinces us that these skills can be applied in other areas...
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...internationalstudiesdefinitionkan... - Isalin ang pahinang ito 1 Dec 2011 – A HABIT is something that is done on a scheduled, regular and planned basis that is not relegated to a seccond place or optional place in one's ... Meaning of study habits wiki.answers.com › ... › Learning Theories - Isalin ang pahinang ito Relevant answers: What is the meaning of good study habits? good study habits is simply studying good. What is study habits? == Answer ==. The manner with ... What is the Definition of study habit wiki.answers.com/.../What_is_the_Definition_... - Isalin ang pahinang ito It means you are not distracted by anything, you have a certain place to go where it is quiet everyday where you study and do homework. Basically it means that ... What are study habits wiki.answers.com › ... › Education › Learning Tips - Isalin ang pahinang ito Study habits are the ways that you study - the habits that you have formed during ... It means you are not distracted by anything, you have a certain place to go ... Study Habits - Term Paper - Rojilei www.termpaperwarehouse.com/.../Study-Habi... - Isalin ang pahinang ito 9 Jan 2012 – Before we proceed, let's define the meaning of study and habit. Study is to buy out the time and dedicate self to application and the task of study ... Study skills - Wikipedia, the free encyclopedia...
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...Using Student Self-Reflections to Improve Student Study Habits in the Mathematics Classroom A Capstone Project Submitted in Partial Fulfillment of the Requirements for the Degree of Master of Arts in Teaching: Mathematics Nancy Daly Department of Mathematics and Computer Science College of Arts and Sciences Graduate School Minot State University Minot, North Dakota Summer 2011 ii This capstone project was submitted by Nancy Daly Graduate Committee: Dr. Laurie Geller, Chairperson Dr. Cheryl Nilsen Dr. Rebecca Anhorn Dean of Graduate School Dr. Linda Cresap Date of defense: Month day, year iii Abstract Type the abstract here. Do not indent. It should be one block paragraph. The abstract is a summary of your paper. iv Acknowledgements Type your acknowledgements here. Indent each paragraph 0.5 inch. You can thank whomever you choose. v Table of Contents Page Abstract .................................................................................................................. iii Acknowledgements ................................................................................................ iv List of Tables ....................................................................................................... viii List of Figures ........................................................................................................ ix Chapter One: Introduction ................................................................
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...ATSS-DCD 21 November 2012 MEMORANDUM FOR All section members SUBJECT: Preparing for the Promotion Board 1. This memorandum will provide you with information that will help you better prepare for the local promotion board. 2. Soldiers attending this promotion board will be evaluated on nine subjects: a. personnel appearance b. military bearing c. self-confidence d. oral expression e. conversational skills f. knowledge of world affairs g. awareness of military programs h. knowledge of basic soldiering I. attitude 3. Three actions that will better prepare all soldiers attending the promotion board are: a. STUDYING. Get a copy of the memorandum that tells when the board is, who the board members are, and what subjects will be asked. Study the questions and answers in the study guide in these nine subjects, but also be prepared to answer other questions. Read the newspaper, watch the news, and be prepared to express your opinions on any local, national, and world events. Know your chain of command and unit history. b. PREPARING YOUR UNIFORM. Reference AR 670-1 for wear and appearance of the uniform. Before board takes place turn your uniform in for alteration’s and cleaning. I will check the proper fit of the uniform of every soldier appearing before the board. c. REHEARSING...
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...Study Skills Questionnaire Name ________________________________ Date________________ To gain a better understanding of yourself as a learner, it is helpful to identify the study skills you use. You can determine if your study skills need a boost or if they are fine just the way there are now. This informal inventory is a short and quick tool for assessing your study skills. This is not a test, so please ask for assistance when/where you feel you need it. Answer each question as honestly as you can. There are 30 questions. Directions: 1. Read each statement and think about it. 2. Place an X in the column that best describes your current level as it relates to the study statement. Example…. Reading Text Books 1. I browse headings, pictures, chapter questions, and summaries before I read a chapter. Rarely Sometimes X Often If this statement happens to be true some of the time for you, then place an X as shown in the appropriate column (which is “sometimes”). At the end of the questionnaire, you will have a chance to self-score the results. Give it a try! Remember…Applying what you learn from this questionnaire is the real key. For more information about study skills, contact the CONNECT TO SUCCESS OFFICE Room #1655 or dana.kobold@rrcc.edu or 303.914.6317 Please note: Handout content adapted from the University of Central Florida’s Student Academic Resource Center Reading Text Books 1. I browse the headings, pictures, chapter questions and summaries before I start...
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...999 Park Ave Bridgeport, CT, 06604 November 19, 2011 Diane Mirvis 126 Park ave Bridgeport, CT 06604 Dear President Mirvis: Hello, my name is XXX, and I am an international student. The library is being the most popular place in Univerisity of Bridgeport because of your work hard. However, most of the students say that the network service needs to improve. If students are satisfied with the network, they would prefer study in the library. The solution is to upgrade network service which just cost few money. It benefits for everyone who studies or works in the library. There is a serious problem be concerned University of Bridgeport students who study in the library. I often study in the library. One of the network problems is network instability. For example, I have to research some information about my assignment, because my first language is not English, I always research more academic information after class or look up the unknown words in an online dictionary. However, I have to connect the UB network approximately every five minutes. I was really bothered by the unstable network here. This action which is frequently loggeing on to the internet makes my learning efficiency lower, because I cannot focus on the studying. The unstable network not only bothered me, but also bothers my friends. There are a statistic for this issue. My four friends...
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...able to help the other one with a problem. Deal with cramps right away. When there’s something you don’t understand, you may be tempted to just put it aside and hope for the best. That strategy doesn’t work at all in math! Because everything builds, if you don’t understand A you will probably not understand B and C either. If this happens in class, ask a question right away. Don’t apologize and don’t worry about looking stupid; probably other people have exactly the same question. Outside of class, use the Baker Center tutors or talk through the problem with your study buddy. Visit your instructor during office hours or make an appointment for another time. Warm up before the event. Before class, look back over the readings and your homework. Make sure you are ready with any questions. Stay in training. Review your notes after class, even rewrite them to make sure you understand everything. If there are several days between classes, review the material at least every other day to keep it fresh in your mind. Make sure you train enough. The College recommends 2–3 hours per classroom hour, but you may need more. Recognize especially that in the summer you’re making a big time commitment. If your class meets five days a week for an hour and 40 minutes a day, that’s two 50-minute classroom hours, which means you should expect to study 4–6 hours per night, every...
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