Discuss the increased scrutiny is enough, what controls might prevent governmental accounting fraud from happening.
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Discuss the increased scrutiny is enough, what controls might prevent governmental accounting fraud from happening.
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- Which of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powersHow did the US Justice Department learn about Chiquita’s payments to illegal groups in Colombia? A private company cable was discovered by US investigators Colombian politicians filed a complaint A competitor spilled the beans The company came forward and admitted it In the film “The Curse of Inca Gold,” Newmont executive Larry Kurlander is caught on tape telling Peruvian intelligence chief Vladamiro Montesinos that he wants a ______ $1 million kickback deposited into his Swiss bank account friend for life guarantee that the government will suppress protests at the Yanacocha mine guarantee that the government will award Newmont and its partners a $1 billion mining concession Why would a manufacturing firm prefer to execute a green-field investment instead of acquiring an existing asset in a foreign country? Because green-field investments are typically less costly to execute Because green-field investments are typically less risky Because green-field investments are…Assuming you are an accountant to a bank, draw up a comprehensive fraud risk assessment that would incorporate a formal process of accountability and responsibility going forward to the bank.
- Differentiate between whistleblowing and insider trading, and analyze the impact of insider trading on corporate institutions' performances.What is pivotal role of the board in corporate governance? (focus on the pivotal position of the board in handling the problem between shareholders and management)Do you think small and micro businesses like sari-sari stores or street vendors use accounting information?
- Suppose that managers of a corporation approve corporate donations to a charity in the local community. How might a stakeholder proponent analyze the ethics of this donation?The importance of literacy in business accounting?Agency Issues. One of the “Finance through the Ages” episodes that we cited is the 1993 collapse of Barings Bank, when one of its traders lost $1.3 billion. Traders are compensated in large part according to their trading profits. How might this practice have contributed to an agency problem?
- The U.S. Securities and Exchange Commission (SEC) released its final rule to implement a code of ethics under SOX Title 404. The stock exchanges have proposed that each company listed on the exchanges publish its code of ethics. Discuss how disclosures of a code of ethics by senior management could have a positive effect on public confidence and influence investors' behavior. Discuss the consequences of not establishing a code of ethics. Support your position. Evaluate the importance of senior management in setting the tone for the application of the company's code of ethics and promoting positive employee behavior, improved decision making, or the willingness to report unethical behavior of coworkers. Recommend at least two policies that might encourage employees to report unethical behavior.As you know, not all purchased intangible assets are necessarily “§ 197 in-tangibles.” For example, in a standalone transaction you purchase a patent with a six-year remaining life from the inventor for use in your Schedule C widget-making business – this is not a § 197 intangible. Or, as a further example, one of your key employees decides to quit; since she knows all of your trade secrets you pay her $250,000 cash in exchange for her signature on a three-year non-compete agreement. How, if at all, would you recover your capitalized investment in the patent and the noncompete agreement for FIT purposes? (a) Even though they are not § 197 intangibles you still must amortize the cost of each over 15 years. (b) You must amortize the cost of the patent over 15 years but you can amortize the cost of the noncompete agreement over its three-year term. (c) You must amortize the cost of the non-compete agreement over 15 years but you can amortize the cost of the patent over its…Please solve all questions please recall the following declaration: “the general public's perception of company ethics changed dramatically with the revelation of the unethical selection-making at Enron, WorldCom, Adelphia, Tyco international, Peregrine systems and iVillage. The scandals took a toll on purchasers' confidence and portfolios, and undermined their religion inside the accounting career. company stakeholders have referred to as for more transparent financial reporting and evidence of higher ethical behavior”. Required: a. dicsuss and give an explanation for four (four) underlying problems that lead to the dilemma. b. Describe 3 (three) broad categories of fraud schemes that can arise base on the scenarioa above supply one example for each class.
