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As for the economic aspect, American middle class had been suffering in the stagflation economy condition due to poor monetary control. The high inflation rate caused a panic among people, which stimulated insurance purchase and the share price of insurance companies was raised and this made more new policyholders appeared. The reduced business investment due to the reduction in the economy growth rate may contribute to the creation of fictitious financial figures. Especially in the 1970s, the government adopt expansionary fiscal and monetary policies,...

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...The Fraud Triangle Abstract In 2002 SAS No. 99, Consideration of Fraud in a Financial Statement Audit describes the difference between material misstatements due to errors and intentional fraud and defines two types of intentional fraud: fraudulent financial reporting and misappropriation of assets. SAS No. 99 also introduced D. R. Cressey’s theory of the fraud triangle which is so named because it consists of three conditions that are generally present when fraud occurs: incentive/pressure, opportunity, and attitude/rationalization. Introduction This paper reflects on SAS No. 99 to describe the difference between material misstatements due to errors and intentional fraud which includes fraudulent financial reporting and misappropriation of assets. It also describes the fraud triangle theory proposed by D. R. Cressey. Think back to when you were in elementary school during fire safety week when the fire department would come and visit. Do you recall the fireman explaining what can be referred to as the fire triangle? That is, the description of what is necessary for fire to exist and continue. In order to create fire you need three things: fuel, oxygen, and heat. To put out (or prevent) the fire you would need to remove one of those three sides to the triangle. You could stop the fire by removing either the fuel, oxygen, or heat. This is a simple analogy for the fraud triangle. Just as there are three sides to the fire triangle there are three sides......

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...Worldcom Fraud Investigation Use the Fraud Triangle and Fraud Scale to critically analyse the actions of Bernie Ebbers and Scott Sullivan during the WorldCom saga/ What does your analysis suggest? Dennis Greer’s fraud triangle is a key framework in analysing the ‘factors that cause someone to commit occupational fraud’ (ACFE-The Fraud Triangle, Association of Certified Fraud, Examiners Available from:http://www.acfe.com/fraud-triangle.aspx [January 2014]). The three elements that make up the model are perceived pressure, perceived opportunity and rationalisation. In reference to the events of WorldCom, which has been labelled to date, ‘one of the biggest accounting scandals in history’ (CNN Money- WorldCom’s Financial Bomb, Available from:http://money.cnn.com/2002/06/25/news/worldcom/. [June 2002]) the initial pressures that were the driving force behind the actions of CEO, Bernie Ebbers and CFO Scott Sullivan are quite vast. Firstly Ebbers, was faced with the managerial strain of financial pressure on management due to the decline in the economic environment and the high expectations of Wall Street. As a result, he was aware that the key to growth was in acquisition and mergers, which required an illusion of a solid investment portfolio and therefore ‘a heavy dependence on the performance of WorldCom shares’ (Forbes- Bernie Ebbers Guilty, Available from: http:// www.forbes.com/2005/03/15/cx_da_0315ebbersguilty). In addition, Ebbers was......

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... Chapter 2 Who Commits Fraud and Why I, Dennis Greer, am making this statement on my own, without threat or promises, as to my activities in regard to the activity of kiting between Bank A and Bank B. As of May 19XX, I was having extreme emotional and financial difficulties. For religious reasons, I was required without notice to move out of where I was living, and I had no place to go. Also, my grandmother—the only family member I was close to—was dying. I had to live out of my car for 3 1/2 weeks. At the end of this time, my grandmother died. She lived in Ohio. I went to the funeral and I returned with a $1,000 inheritance. I used this money to secure an apartment. The entire sum was used up for the first month’s rent, deposit, and the application fee. From that time, mid-June, until the first part of August, I was supporting myself on my minimum-wage job at the nursery. I had no furniture or a bed. I was barely making it. I was feeling very distraught over the loss of my grandmother and problems my parents and brother were having. I felt all alone. The first part of August arrived and my rent was due. I did not have the full amount to pay it. This same week, I opened a checking account at Bank B. I intended to close my Bank A account because of a lack of ATMs, branches, and misunderstanding. As I said, my rent was due and I did not know how to meet it. On an impulse, I wrote the apartment manager a check for the amount due. I did......

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...evaluating this case using the three elements of the fraud triangle I have concluded that the potential pressures for Chris to commit fraud are greater than for others. The pressure is from Chris himself because he wants what others have or what he doesn’t have. This is due to the fact that Chris is young and impressionable may feel as though he doesn’t make enough money to obtain the material possession he desires or see others with. He may also be of the mindset that “he wants it now” it being the latest technology. This younger generation seems to feel entitlement instead of working and earn it. This may be due to their upbringing. Although my generation had things we worked for them and with our parents/families help we were able to obtain those things we wanted. We live in a technology savvy society so if you don’t have the last gadget then you may be looked upon as not having the means to acquire these things or not technologically savvy enough to want or have these items. Having the latest gadgets is a societal status symbol, the more you have…. the more you have meaning money. Chris may have friends that have the latest and greatest technology and he maybe envious of them and desire to acquire those things as well but not on his salary in his mind. So he must find a way to get either more money or a way to acquire the latest and the greatest in technology. The potential opportunities for Chris to commit fraud are great. He has access to a fake credit card......

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...The Fraud Triangle 9/22/2012 Allison Walton | The Fraud Triangle The fraud triangle are conditions for fraud arising from fraudulent financial reporting and misappropriation of assets. These conditions are: a. Incentive/Pressure b. Opportunities c. Attitude/Rationalization The fraud triangle is depicted by the following image: Incentive/Pressure Management or other employees will have incentives or circumstances of pressure to commit fraud. If the decision is made by management to report fraudulent financial statements, the most common reason for this will be threat by economic, industry or entity operating conditions to the financial stability and profitability of the company. Excessive pressure is placed on management to meet the forecast of an analyst, company projections or to repay debt obligations. The personal net worth of the stockholders and board of directors may be materially threatened by the company’s financial performance, and management may feel obligated to meet these demands. Management may inflate stock prices to preserve their reputation and be required to do whatever it takes to meet the goal. The bonuses of management may be tied to the company’s earnings and this is a big motivator for fraudulent reporting (Fox School of Business 2009). The misappropriation of assets in a company may be done because of personal financial pressure such as a home foreclosure, or a non-sharable problem such as drug use or gambling debts (Wells......

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...The term of “fraud triangle” was developed by Dr. Donald Cressey, a criminologist who studied embezzlers. The three basic elements of fraud triangle include perceived pressure, perceived opportunity, and the ability to rationalize. It explains the nature of many fraud offenders and also become a tool to assess the risk of fraud. It is important to companies to incorporate the fraud triangle theory in order to reduce the risk of fraud within their organization. From my standpoint, companies should incorporate the fraud triangle from the following aspects. First, companies should perform background investigation in order to uncover the perceived pressure. The factors that create pressure include personal financial pressure (high levels of debts and poor credit rating), addictions such as drugs, gambling, and lifestyle issues such as living beyond one's means. According to Bliss (2012), “auditors and fraud examiners generally consider pressure and rationalization to be internal qualities that can't be seen or assessed. Resources are focused on opportunity, which can be reduced with internal controls.” As a consequence, companies should focus more on risk prevention. They can uncover some undesirable personal traits in advance, when they are making hiring decision. If the management understands the motivation of an offender, several background checks could be useful in preventing fraud. For instance, “the civil records search can find information on any non-criminal litigation....

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...INTRODUCTION There was large actual deficit of 12.1$ found in Violet Bay. A special grand jury investigation then uncovered numerous internal control problems that contributed to the deficit. In this memorandum, I will discuss Violet Bay School District’s control systems. I will evaluate the control system using the framework in COSO framework and identify control mechanisms. I will also address the components of the fraud triangle that were present at VBSD. EVALUATION OF CONTROL SYSTEM VBSD does not create a good control environment with commitment and ethical values well demonstrated. Otherwise, Spigot, the superintendent, acts as having a “dictatorial management style” Although, there is reporting structure established, however, neither Robertson nor Spigot conformed to it. Spigot executes the contract before the City Office’s proposal. For the Risk Assessment, VBSD has unrealistic assumptions used in preparation of the operating budget. Instead of identifying and analyzing risks, the CFO tried to ignore the risks. Furthermore, VBSD lacks control activities and communication systems. To be exact, firstly, there is no effective way to track budget and payroll expenditures. Also, VBSD needs more strict policies and procedures to execute proposal such as the large transfers. For the communication, the current reporting system is not so effective. The deficit information was not conveyed to the School Board as soon as possible. Nearly all the communication process......

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...”According to the Association of Certified Fraud Examiners, public and private organizations in the United States, on average, lose about seven percent of their annual revenues to fraud” (1). This numbers has continued to grow over the past fifteen years, and with the economic turmoil and increasing fraud, the need to reduce the risk of fraud is now more important than ever. Before we can review the ways to reduce fraud, we first need to define what it actually is. As defined in our textbook, “Fraud, sometimes referred to as the fraudulent act, is an intentional deception, whether by omission or co-mission, that causes its victim to suffer an economic loss and/or the perpetrator to realize a gain”. There are three major categories of fraud. The first, assets misappropriation, is when one who is entrusted to manage the company’s assets steals from it by ways such as theft or misuse. The second is corruption, which involves the unlawful misuse or influence over a transaction to gain a personal benefit that is through unlawful and unethical means. A few examples of corruption would be bribery, embezzlement or intentional disregarding a conflict of interest. The third is financial statement fraud which involves the intentional misrepresentation of financial or non-financial information to intentionally deceive the financial statement users whom relied on such information to make material decisions. A few examples would be an Organization that was overstating revenues,......

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...50 Keys To CAT Arithmetic, Algebra, Geometry and Modern Mathematics A collection of 50 very important formulae for Quantitative Ability Section of CAT from the pioneers of online CAT training ▪ EASY ▪ EFFECTIVE ▪ PERSONALISED 1. Averages 2. Mean For two numbers a and b, 3. Percentage Change For two successive changes of a% and b%, 4. Interest Amount = Principal + Interest © 2008 Enabilon Learning Pvt. Ltd. All rights reserved. 1 5. Population Formula [Here, P = Original population, P’ = population after n years, r% = rate of annual change] 6. Depreciation Formula [Here, P = original value, P’ = final value after n years, r% = rate of annual depreciation] 7. Growth Absolute Growth = Final Value – Initial Value [Here, S. A. G. R. = Simple Annual Growth Rate, A. A. G. R. = Average Annual Growth Rate and C. A. G. R. = Compound Annual Growth Rate] 8. Profit and Loss Profit = SP − CP Loss = CP − SP © 2008 Enabilon Learning Pvt. Ltd. All rights reserved. 2 9. False Weights If an item is claimed to be sold at cost price, using false weights, then the overall percentage profit is given by 10. Discount Discount = Marked Price − Selling Price Buy x and Get y Free If articles worth Rs. x are bought and articles worth Rs. y are obtained free along with x articles, then the discount is equal to y and discount percentage is given by Successive Discounts When a discount of a% is followed by another discount of b%,...

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...Simple Interest | Amount=Principal+Interest Where: | Amount | Final Amount | | Principal (P) | Amount invested | | Interest | Simple Interest (I) | Indices a6+a6=2a6 a6×a6=a12 a6÷a6=a0 a0=1 e.g.1 14h8÷2h3=14h82h3=7h8h3=7h5 e.g.2 x23=x6 e.g.3 2a53=2×2×2×a5×3=8a15 Pie Charts Constructing pie charts using protractor and calculate the angle: SectorTotal×360 Angles of Polygons Sum of Interior Angles S= n-2×180° Where S is the sum of the interior angles n is the number of sides of the polygon e.g. octagon 8 Pythagoras Theorem hyp2=opp2+adj2 Used when wanting to find a missing side in a right angled triangle Sequences Example: 1st term | 2 | 2nd term | 4 | 3rd term | 6 | 100th term | 100 x 2 = 200 | nth term | 2n | Circles Circumference C= 2πr Where: | C | Circumference | | π | π | | r | Radius | Area of a circle A= πr2 Where: | A | Area | | π | π | | r | Radius | Area of sector A= θ360×πr2 Where: | A | Area | | π | π | | r | Radius | | θ | Theta (angle of sector) | Length of arc Length of arc= θ360×2πr2 Where: | π | π | | r | Radius | | θ | Theta (angle of sector) | | | | Perimetre All the length of the shape Ratios Example: The ratio of biscuits is butter, sugar and flour 2:1:4. The......

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...Running head: Pythagorean Quadratic Pythagorean Quadratic Sharlee M. Walker MAT 221 Instructor Xiaolong Yao December 2, 2013 Pythagorean Quadratic Ahmed’s half of the map doesn’t indicate which direction the 2x + 6 paces should go, we can assume that his and Vanessa’s paces should end up in the same place. I did this out on scratch piece of paper and I saw that it forms a right triangle with 2x + 6 being the length of the hypotenuse, and x and 2x + 4 being the legs of the triangle. Now I know how I can use the Pythagorean Theorem to solve for x. The Pythagorean Theorem states that in every right triangle with legs of length a and b and hypotenuse c, these lengths have the formula of a2 + b2 = c2. Let a = x, and b = 2x + 4, so that c = 2x + 6. Then, by putting these measurements into the Theorem equation we have x2 + (2x + 4)2 = (2x + 6)2. The binomials into the Pythagorean Thermo x2 + 4x2 + 16x + 16 = 4x2 + 24x + 36 are the binomials squared. Then 4x2 on both sides of the equation which can be (-4x2 -4x2) subtracted out first leaving the equation to be x2 + 16x + 16 = 24x + 36. Next we should subtract 16x from both sides of equation, which then leaves us with: x2 +16 = 8x + 36. The next step would then be to subtract 36 from both sides to get a result of. x2 -20= 8x. Finally we need to subtract 8x from both sides to get x2 – 8x...

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...Buried Treasure Allen Raikes MAT 221 DR. Steven Flanders Ahmed and Vanessa has a treasure that needs to be located. It’s up to me and to help find it, I will do that by using the Pythagorean quadratic. On page 371 we learned that the Ahmed has a half of the map and Vanessa has the other half. Ahmed half in say the treasure is buried in the desert 2x+6 paces from Castle Rock and Vanessa half says that when she gets to Castle Rock to walk x paces to the north, and then walk 2x+4 paces to the east. So with all the information I have I need to find x. the Pythagorean Theorem states that in every right triangle with legs of length a and b and hypotenuse c, which have of a relationship of a2+b2=c2. In this problem I will let a=x, and b= 2x+4, and c=2x+6. So know it time to put the measurements into the Theorem equation; 1) X2+ (2x+4)2=(2x+6)2 this is the Pythagorean Theorem 2) X2+4x2+16x+16 = 4x2+ 24x+36 are the binomials squared 3) 4x2 & 4x2 on both sides can be subtracted out. 4) X2+16x+16 = 24x +36 subtract 16x from both sides 5) X2+16 = 8x+36 now subtract 36 from both sides 6) X2-20 = 8x 7) X2-8x-20=0 this is the quadratic equation to solve by factoring using the zero factor. 8) (x-)(x+) Since the coefficient of x2 is 1 we have to start with pair of () is the 20 in negative there will be one + and one – in the binomials. 9) -2, 10: -10,2: -5,4; -4, -5 10) Looks I’m going to use -10 and 2......

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...1. N/a 2. using Law of Sines and Law of Cosines. You get two different triangles. The one combination you can't have is where A is opposite the b. Maybe your notation already specifies this, but I don't think so, otherwise there is no problem. If you try to construct a triangle with the 70 degree angle opposite the side of length 5, the Law of Sines would give sin x = (7/5)sin 70 = 1.316, which is impossible. With angle A = 70 opposite the side of length 7, the Law of Sines gives sin x = (5/7)sin 70, which is a lot more reasonable. using the inverse sine function to solve (on your graphing calculator) you get x = 42.16 degrees as the angle opposite side b = 5. The remaining angle is now 67.84 degrees since all three add up to 180 degrees. Now you have two sides and an included angle and you can use the Law of Cosines to solve for the third side. If 70 degrees were the included angle between sides of 7 and 5, this makes a triangle and we can solve for the third side with the Law of Cosines. If we call the third side c we have c² = 7² + 5² - 2(7)(5)cos 70°. Again, using your graphing calculator you get c = 7.075. Now you can get the remaining angles in this triangle, using the Law of Sines. 3. Let x be the base of the triangle between the perpendicular and AB; which projects 53 dgrees at B and 62 degrees at a point 300 yards from B on the opposite bank of A x*tan62=(x+300)*tan53 = the perpendicular x = 300*tan53/(tan62-tan53)=719.0295......

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...Score: ______ / ______ Name: ______________________________ Student Number: ______________________ | 1. Elsie is making a quilt using quilt blocks like the one in the diagram. a. How many lines of symmetry are there? Type your answer below. b. Does the quilt square have rotational symmetry? If so, what is the angle of rotation? Type your answers below. | | 2. Solve by simulating the problem. You have a 5-question multiple-choice test. Each question has four choices. You don’t know any of the answers. What is the experimental probability that you will guess exactly three out of five questions correctly? Type your answer below using complete sentences. | | 3. Use the diagram below to answer the following questions. Type your answers below each question. a. Name three points.b. Name four different segments.c. Write two other names for FG.d. Name three different rays. | | 4. Charlie is at a small airfield watching for the approach of a small plane with engine trouble. He sees the plane at an angle of elevation of 32. At the same time, the pilot radios Charlie and reports the plane’s altitude is 1,700 feet. Charlie’s eyes are 5.2 feet from the ground. Draw a sketch of this situation (you do not need to submit the sketch). Find the ground distance from Charlie to the plane. Type your answer below. Explain your work. | | _____ 5. Jason and Kyle both choose a number from 1 to 10 at random. What is the probability that both numbers are odd?......

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...RAFFLES GIRLS' PRIMARY SCHOOL SEMESTRAL ASSESSMENT 1 MATHEMATICS (PAPER 1) PRIMARY 5 Name: ( ) Form Class: P5 Banded Math Class: P5 Duration: 50 min Date: 10 May 2011 Your Score (Out of 100 marks) Your Score (Out of 40 marks) Parent's Signature INSTRUCTIONS TO HAMninATFS 1• Do not turn over this page until you are told to do 2. Follow all instructions carefully. so. 3. Answer ALL questions and show all working clearly. 4. NO calculator is allowed for this paper. Pagel of 12 SECTION A (20 marks) Questions 1 to 10 carry 1 mark each. Question 11 to 15 carry 2 marks each. For each question, four options are given. One of them is the correct answer. Make your choice (1, 2, 3 or 4). Shade your answer (1, 2, 3 or 4) on the OAS provided. All diagrams are not drawn to scale. 1. How many ten-dollar notes make up $201 010? (1) (2) (3) (4) 10 20 2 010 20101 2. What is the product of 83 * 700? (1) (2) 581 5 810 (3) 58100 (4) 581 000 Page 2 of 12 3. Find the volume of the cuboid shown below. 28 m (1) (2) 84 m3 140 m3 (3) (4) 168 m3 840 m3 What is the missing number in the box? • 9 d) 6 2 3 (2) (3) (4) 8 14 15 ->• k txpress — as a mixed number. c 38 (D (2) 3* 4 4 (3) (4) 94 9! 2 Page 3 of 12 6. Which of the following figures cannot be tessellated? (D (2) (3) (4) ( ) 7. In 43.21, which digit is...

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