Sec Memo

In: Business and Management

Submitted By chandlerblakely
Words 516
Pages 3
interoffice memorandum
to: Tyson Gay, MAnager
from: Chandler Blakely
subject: current sec investigation
date: [ 8/6/2012 ]
cc: Mark Durand, facilatator
Current SEC Investigation
This memo has been written in order for the company to discuss the current U.S. Securities and Exchange Commission’s (SEC) investigation into University of Phoenix Accounting Firm accounting practices. It is highly important that during this investigation that the company know everything it is required to do from a legal aspect as well as know the best route to take in dealing with the public opinion of such an investigation. The company must also prepare to deal with arising issues that may occur with external stakeholders while keeping our reputation as a top accounting firm.
From a legal aspect the law and the SEC requires that we take certain action ensure fair trading amongst the public, these requirements include but are not limited to the following:

* Any information that may affect or stock market price be released immediately
* Any information reported is accurate and will not mislead investors
* Any information will be widely disseminated

We should be fast and efficient in all these necessary actions to prevent legal ramifications. Also the company has to show the public we or fully cooperative with the ongoing investigation and we have nothing to hide.
Public communication in this situation is vital to our company. We have to communicate a genuine belief in what we do here, if we want to move forward and survive as a successful company the public has to know that we are who we say we are, and we conduct our business through the proper channels and do so legally. This effective communication will go a long way in ensuring that we survive the crisis at hand.
There is find line we have to tip toe when calming external stakeholder so we do not venture…...

Similar Documents

Sec Memo

...interoffice memorandum to: Tyson Gay, MAnager from: Chandler Blakely subject: current sec investigation date: [ 8/6/2012 ] cc: Mark Durand, facilatator Current SEC Investigation This memo has been written in order for the company to discuss the current U.S. Securities and Exchange Commission’s (SEC) investigation into University of Phoenix Accounting Firm accounting practices. It is highly important that during this investigation that the company know everything it is required to do from a legal aspect as well as know the best route to take in dealing with the public opinion of such an investigation. The company must also prepare to deal with arising issues that may occur with external stakeholders while keeping our reputation as a top accounting firm. From a legal aspect the law and the SEC requires that we take certain action ensure fair trading amongst the public, these requirements include but are not limited to the following: * Any information that may affect or stock market price be released immediately * Any information reported is accurate and will not mislead investors * Any information will be widely disseminated We should be fast and efficient in all these necessary actions to prevent legal ramifications. Also the company has to show the public we or fully cooperative with the ongoing investigation and we have nothing to hide. Public communication in this situation is vital to our company. We have to communicate a genuine belief in...

Words: 516 - Pages: 3

Memo

...Memo To: From: Date: 10/30/2012 Re: Request for Funding of a Business Communications course I would like to request funding to participate in an upcoming class, Business Communications (GB512), at Kaplan University Online. As an employee of Lowe’s who cares about employee development and performance I have decided to do some research on performance management best practices that could be beneficial to the company as a whole. My ability to communicate better as a professional will ensure that my presentation skills and research on performance management is easily understood by the Directors and Area Managers for Lowe’s Home Centers, Inc. Being able to look into this topic and create solutions will help me to be more confident in my presentation skills and ensure that my thoughts are being communicated effectively to my audience. . The course I am wishing to participate in is Business Communications and is a six week course that will cost $1814.00 which includes all software, course material and technology fees. The start date of this course is November 14th and will consist of seminars and online discussions boards which will require participation several nights each week. This class will help me to strengthen my written communication in the business environment that I am currently working in. I feel as though this course will help me to move forward and grow in my skills of analyzing and presenting research items to a group of colleagues with...

Words: 384 - Pages: 2

Memo

...Memo To: Clients From: CC: Firm CPA’s Date: Re: SAS 112- Statement of Accounting Standards In May of 2006, the AICPA Auditing Stands Board published the SAS-112 in previous years there where changes made to the auditing standards that had an effect on the auditing procedures performed on financial statements. The new standards of changes are described in SAS-112. This memo will clarify the requirements of the new standards and how it will affect your business.   The terms below are defined in SAS-112 and explain how they affect the auditing standards: * A control deficiency exists when the design or procedure of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. * A deficiency in design exists when a control necessary to meet the control objective is missing, or the control is not properly designed so that even if it operates as designed, the control objective is not always met. * A deficiency in operation exists when a properly designed control does not operate as designed or the person performing the control does not possess the necessary authority or qualifications to perform the control effectively. * A significant deficiency is a control shortage or a combination of control shortages that adversely affects the entity’s ability to initiate, authorize, record, process or report financial data reliably in accordance with...

Words: 352 - Pages: 2

Memo

...MEMO To: Anisur Rahman Student’s Name: X Student’s ID: Date: 24.01.2013 1. Sales by Region Row Labels | Sum of Total Sales | East | 529124.8 | North | 233832.75 | South | 234595.05 | Grand Total | 997552.6 | 2. Sales by item Row Labels | Sum of Total Sales | 101 Keyboard | 18294.15 | 17" Monitor | 139461 | Desktop CPU | 833800.95 | PC Mouse | 5996.5 | Grand Total | 997552.6 | 3. Sales by store Row Labels | Sum of Total Sales | 1 | 90281.1 | 2 | 54262.7 | 3 | 90051.25 | 4 | 75498.75 | 5 | 158334 | 6 | 267648.9 | 7 | 170040.85 | 8 | 91435.05 | Grand Total | 997552.6 | | | 4. Sales by week Row Labels | Sum of Total Sales | 27-Oct-08 | 317722.75 | 24-Nov-08 | 341961.05 | 29-Dec-08 | 337868.8 | Grand Total | 997552.6 | 5. For which products we need more marketing? Row Labels | Sum of Units Sold | 101 Keyboard | 917 | 17" Monitor | 609 | Desktop CPU | 981 | PC Mouse | 670 | As 17’’ monitor has the least sales thus it needs more marketing. 6. On regional basis, which products need more advertising? Row Labels | Sum of Units Sold | East | 1532 | 101 Keyboard | 385 | 17" Monitor | 328 | Desktop CPU | 522 | PC Mouse | 297 | North | 882 | 101 Keyboard | 309 | 17" Monitor | 117 | Desktop CPU | 234 | PC Mouse | 222 | South | 763 | 101 Keyboard | 223 | 17" Monitor | 164 | Desktop CPU | 225 | PC Mouse | 151 | Grand Total | 3177 | In East region: PC mouse...

Words: 408 - Pages: 2

Memo

...Luis Cubilla ENG/221 Technical Writing Fundamentals Zachery Koppelmann January 28 2013 The organization of the memo from Hugh to Abram is partially organized. Hugh does not stray from his subject much and appears to stay on point with what he wants to address. The letter has an average format with a standard intro body and conclusion along with a signature which should be included in all e-mails. The clarity however leaves little to be desired for but at least Hugh admits that he does not understand his own employee or his friend. Hugh talks about how he was advised not to use certain enterprise software’s with by his friend and how he could not understand much of how the situation should be handled or how he should move forward with his business plans. The writing style is very unprofessional; it almost seems more like Hugh is writing to a friend rather than a co-worker or colleague. There are no real formalities Abram is only addressed by name once and the overall feel looks like something a brother would write to his family member. The memo seemed to be a little disrespectful in some ways. First Hugh is talking business matters with a friend rather than Abram, secondly it appears Hough’s friend is providing the basic of warnings that any programmer should look for but Hugh appears to be leaning towards his friend’s advice rather than Abram who as Hough states “respects his professional approach”. To add further insult to injury Abram has been asked to...

Words: 456 - Pages: 2

Memo

...Memo Date: December 1, 2012 To: All BUSAD 106 Students From: Instructor ------------------------------------------------- Subject: Reminder of Individual Report As I mentioned in last memo, each student is required to submit a businessresearch paper. This memo is reminding you that your individual report is due by one week ahead from this week. As you all know the main topic, you should be able to consider to some important steps as you need to complete your individual report. Some of these steps are listed below: Important Considerations 1. Your report needs to be presented as an informational report. 2. You need to come up with at least three major in the body of your report (Intro, body, and conclusion). 3. The report must be at least 3 to 4 pages. 4. This 20 point report is due at or before 11:55p.m. On December 8, 2012. General Guidelines 1. You need to complete your own report, and it must be prepared using word processing and good quality print. 2. Use formal writing style throughout the report. 3. Use three to five valid and reliable secondary sources. You already know how to get this information from. 4. Use visual aids (i.e. charts, graphs, tables, etc…) they must be clear and relevant to the topic. 5. In either electronic or hard copy format, provide the sources used to write the report so I can check the accuracy of information and Works Cited page. Grading Policy You must submit your report by due date......

Words: 353 - Pages: 2

Memo

...ACCOUNTING CASES, RESEARCH, AND ANALYSIS INDIVIDUAL ASSIGNMENT #2 MEMORANDUM TO: Professor Siyi Li FROM: Mariam Shamshad DATE: September 11, 2013 SUBJECT: Partition of Restatements as Error or Irregularities This memo discusses the main ideas of Hennes, Leone and Miller (2008) research on restatements reclassification that is studied using the guidelines from Gordon and Porter (2009) reading and understanding academic research. Main Research: There has been much research on causes and consequences of restatements. However, these researches are done using data that contain restatements consisting of both accounting errors and intentional misrepresentation. Hennes, Leone and Miller (2008) research suggest that stronger hypothesis can be developed if the restatements are partitioned as errors and irregularities. The research then proposes ways of distinguishing between these two kinds of restatements. The research question is both interesting and important. It will enhance the past literature related to the subject of restatements. Also, restatements have a significant impact on market and must be assessed properly. Following criteria classify a restatement as an irregularity * Firms using variants of words “irregularities” and “fraud” in disclosure * Restatements with related SEC investigation * Restatements with related independent investigation Restatements not meeting the above criteria are accounting errors. Main Findings...

Words: 392 - Pages: 2

Memo

...SUBJECT: Important Risk Analysis: Assessment of Audit Risk The objective of this memo is to introduce the financial position of Hormel Foods Corp. and provide the general assessment of the company’s audit risk. The overall assessment of risk of material misstatement is moderate. This memo presents the potential high-risk areas as followings. Revenue Recognition GM’s major sources of revenue is manufacturing and marketing branded consumer foods sold through retail stores. It also supply branded and unbranded food products to the foodservice and commercial baking industries. The competition and seasonality is critical factors in estimating the revenue of the company. Additionally, estimate of coupon redemption, product returning and uncollectible sales on credit sales need to be measured accurately. The risk of material misstatement is high in this account. The considerable amount of estimates required to measure accounts such as sales revenue, and account receivable, which lead to a high risk assessment. Moreover, the need to use estimates varying on the operating location, for example, constitutes revenue recognition as a high-risk audit area. GM’s key customers are grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, commercial and noncommercial foodservice distributors and operators, restaurants, and convenience stores. Estimate of return of product and customer credit is important for evaluating the sales...

Words: 939 - Pages: 4

Memo

...| ACME | Memo To: | Company President | From: | ME | cc: | HR | Date: | November 8, 2013 | Re: | Soft Skills Training | | | After the last project review one area that needs to be improved is our communication not only with the stakeholder, but vendors and our team as well. Having gone through soft skills training before while in the Marine Corps, before I was assigned to recruiting duty, I know that soft skills training will have a positive impact on our team and improve our overall bottom line and limit communication breakdowns that have caused extra costs and completing projects after the due date. Due to the size of our company and that we are always involved in ongoing projects I would suggest that we use an online training company. This will also reduce costs because we will not have reimburse for travel costs. Using an online company will also allow us to control the environment in which our staff in being trained. Another option would be to bring in a company to do in house soft skills training. Train Smart would be a company that I would suggest they offer many services, but the one that would benefit us and our customers the most would be their tailored soft skills training. This would benefit all parts of our company as they offer leadership, HR, management, communication, and team building soft skills programs. They also work with a wide variety of industries many of who we also work with this can only help us in the long run if we...

Words: 399 - Pages: 2

Memo

...As you may have heard about the recent incident that occurred about the reporter in the paper’s Moscow bureau. It has brought about attention in adding new disciplinary actions to take care of any foolish acts such as the reporter at the Moscow bureau did. The Los Angeles Times have always prided ourselves with strict discipline when it comes to journalistic ethics. I am writing to inform you all regarding new policy changes towards handling e-mail privacy violations. They include the following penalties: Reassignment, suspension without pay, or termination of employment. You are to inform these new guideline penalties to every employee under your management and future new hires. I highly suggest you get everyone together for a special meeting to thoroughly explain in details these new policy changes towards e-mail privacy. The Policy Violations guideline will go as following: • First Offense- Verbal warning in a direct meeting with a direct supervisor, which will also be entered in writing in the employee’s human resources file. • Second Offense- Reassignment or suspension without pay, for a period to be determined by the employee’s supervisor (who will know best the most appropriate length of time). • Third Offense- Immediate termination without severance pay. These new policy violation changes will be enforce affected immediately. This list is just the simple outline of the new changes for you to explain to your employees. There will be a more detailed company-issued......

Words: 283 - Pages: 2

Memo

...Billing Memo This memo is to remind the office of the important of documentation of coding and coding. If something has not been documented it does not happen then we can’t be billed for those services. There are minimum documentation requirements that are needed for reimbursement. Within documentation there are general principles that comes along with documentation. They are as followed chief complain of the patient on their time of visit. A relevant history of the patient. If any physical exam were done to that patient at the time of visit. Those findings with need to have documentation. Any diagnostic testing that has been order by the provider. The reason why the testing was of medical necessity. There also needs to be documentation of the assement of the patient. As well as if a form of diagnosis has been given by the provider to the patient. A plan of care is also needed for documentation and any recommendation of care. Along with the length of the visit with the health care provider. If counseling and or coordination have been provided to the patient. The finally requirement for reimbursement is the date of service that the patient was seen by the provider. As well as the legible identify of the health care provider. Along with those requirements I would to inform you of the electronic solutions that exist that can help ensure. Accurate evaluation and management coding with in our office. The first solution is the use of an electronic superbill. It’s of great...

Words: 517 - Pages: 3

Memo

...Memo #1 To: Business Relationship Manager, XYZ Inc. From: 670-21-4428 Date: 02/14/2015 Problem: XYZ Inc. is in a situation wherein it is unable to meet a given Project X deadline with its available resources and budget constraints. Causes: The following were identified as potential causes for the problem stated above: * Lack of formal scope definition process has resulted in vagueness and open ended conclusions about the actual requirements among the associates which has resulted in man-hour wastage further hampering the project budget. * The initial estimates of the project’s cost and schedule were found to be erroneous. * Insufficient historical information of a similar project has resulted in giving out incorrect man-hours required for successful completion of the project within the given deadline. * Critical project decisions including constant client interactions were handled by associates who lacked the subject matter expertise resulting in commotion among team members. * Distinct segregation of the roles and responsibilities of all the associates working in the project were not performed which has finally resulted in a confusion and a project deadline crunch. * Proper metrics to track periodic project progress were not in place. * Failure to prioritize the critical project tasks has affected the implementation progress. Recommendations: The following are some of the possible recommendations which could help revive XYZ Inc.......

Words: 286 - Pages: 2

Memo

... To: Professor From: Date: Subject: executive memorandum This memo is a summary of the data analysis of portfolio of two common stocks. Firstly, we download 84 months data including returns, risk free and s&p500 index. Then we use return minus risk free to get the excess return for each company, because we need to use the excess return to graph the investment opportunity set and regression. For the second requirement, we need to compute the arithmetic mean, which is the historical average return. We find the Union Pacific average excess return is greater than the ConAgra. It means the Union Pacific can gain more than the ConAgra. However, the geometric mean is different from the arithmetic mean, we need to use the formula: g=arithmetic mean of return- (1/2)*variance, the variance is the simple historical variance, which is 1/(n-1)∑[r(s)-r ̅ ]^2. The standard deviation is the square root of the variance. The variance and standard deviation are measure the risk. We can see the risk of Union Pacific is greater than the ConAgra. That’s the high return, high risk. Besides, the historical beta of each company is come from the coefficient of regression analysis. The beta of Union Pacific is greater than 1, it’s greater than the average beta and the ConAgra’s beta less than 1, it means less than average beta. The alpha of each company is come from intercept coefficient of regression analysis, which means s&p500 raise or fall 1 percent, union pacific raise or fall...

Words: 573 - Pages: 3

Memo Sec Investigation

... investigators to interview. Our full cooperation on this matter is of utmost importance. We are also required to contact our external auditor, Deloitte LLP, and have our audit team get in contact with the SEC investigators. We need to make sure that our external auditors are fully debriefed on the situation. There have been rumors circulating in the media concerning the allegations against us, especially concerning the resignation of our CFO. Public communication is of utmost importance in this instance. I have attached a public press release to this memo. Since the allegations are as of yet unproven, we cannot, under any circumstances, reveal information concerning our involvement with the SEC. At the same time, we have to make sure that we maintain our honest reputation amongst the public and our investors. We have to maintain impartiality and promote the image of our presumed innocence. The memo that I have attached is in accordance with the above mentioned goals. It maintains our presumed innocence and allows us to buy more time with our investors until the matter is resolved. We have to make sure that rumors among the media do not cause some of our investors to be influenced as that could hurt our business in the future. Please make sure to review the memo and get back to me with any suggestions....

Words: 457 - Pages: 2

Memo

...Mombasa, Inc Memo To: CEO From: Tex Matters CC: Board of directors Date: 4/23/2012 Re: our ethical dilemma Thank you for allowing the opportunity to work on this important issue. It is not only important for us to do business, but it is important for us to do it the right way. We have an obligation not only to ourselves, but to our shareholders, customers, family and most importantly our country. We represent our country wherever our business takes us. As requested, we have studied the strength and weakness of every decision we can make with regards to this very important issue. Our analysis studied every important element. We gathered all important information. We asked all important questions. Based on our intensive study we have come up with the following possible alternatives: 1. We should hold our order and remanufacture it, then send it. 2. We should send the order as is to prevent loss to our bottom line. 3. We should inform our client of the issue, and offer to send the order at a discounted price. All the alternatives we concluded were legitimate in their own right. Any decision we make will have a justification. The most important element in our decision making process will be to evaluate whether or not each decision falls within our values. Our values are our rocks. We cling onto them in hard times. They always lead us. When we step out of our comfort zone, it affects our decision making. We impair our ability to make the right decision and...

Words: 2112 - Pages: 9