Internal Fraud Case Study - 642 Words

COVER STORY: INTERNAL FRAUD CASE STUDY Prepare a two-to-three page case study report on the following case: COVER STORY: INTERNAL FRAUD on pages 104-106 in Chapter 4: Billing Schemes of the Fraud Examination text by Wells. Discuss the coincidences involved in this case study. Use the 2009 Global Fraud Survey (also located in Doc Sharing) for references concerning perpetrator, size of fraud, detection, and controls. This case is about the $4 million embezzlement fraud by an employee of a magazine publisher, and how the fraud was discovered. The type of fraud discovered was a billing scheme that was found on accident. A billing scheme is, â€Å"Any scheme in which a person causes his employer to issue a payment by submitting invoices for†¦show more content†¦I think in this case there was a lack of internal controls. In dealing with this type of situation, Miano should have never been able drop off so many invoices at the same time. In doing so, they should have had someone else transporting the approved invoices to the accounts payable department. They should have also mailed the checks out to the clients rather than having someone come collect them. According to the 2010 Global Fraud Studies, â€Å"there was a strong correlation between the perpetrator’s position of authority and the losses caused by fraud.† 3 Managers took 41% of the cases. With coincidence two, McGran e’s secretary noticed that Miano’s behavior became extravagant. From him purchasing $800 in drinks, to having 5 cars, one of which was a Mercedes, to him purchasing a 2nd home for $416,000, and him talking about a new $18,000 boat. I think the secretary should have seen it as a red flag when she noticed Miano’s behavior becoming extravagant and reported it to a higher authority. Managers should take the time to analyze the lifestyles of their employees. Unexpected and unexplained changes in lifestyle may suggest that fraud has taken place. I think the activity and responsibilities of this type of employee should be monitored. With coincidence three, a red flag should have been the fact that Miano hadn’t taken a vacation in 4 years. According to the 2010 Global Fraud Studies, â€Å"frauds committed by higher-level perpetrators also took longer to detect.† 4 TheShow MoreRelatedInternal Fraud Case Study Essay650 Words   |  3 PagesCOVER STORY: INTE RNAL FRAUD CASE STUDY Prepare a two-to-three page case study report on the following case: COVER STORY: INTERNAL FRAUD on pages 104-106 in Chapter 4: Billing Schemes of the Fraud Examination text by Wells. Discuss the coincidences involved in this case study. Use the 2009 Global Fraud Survey (also located in Doc Sharing) for references concerning perpetrator, size of fraud, detection, and controls. This case is about the $4 million embezzlement fraud by an employee of a magazineRead MoreInternal Control and Fraud Detection in the Banking Industry (a Case Study of Guarantee Trust Bank Plc)11154 Words   |  45 PagesINTERNAL CONTROL AND FRAUD DETECTION IN THE BANKING INDUSTRY (A CASE STUDY OF GUARANTEE TRUST BANK PLC) BY OGUNDELE GBONJUBOLA 06271184 BEING A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY OF MANAGEMENT SCIENCES, UNIVERSITY OF ABUJA, ABUJA, NIGERIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.SC) HONOURS DEGREE IN ACCOUNTING JANUARY, 2011 DECLARATION Apart from references of other people’sRead MoreThe Role of Internal Audit in Prevention of Fraud in Nigeria Banks . a Case Study of Equitorial Bank Lagos.9955 Words   |  40 PagesBackground of the Study 2. Statement of Problem 3. Research Objectives 4. Significance of Study 5. Scope and Limitation of the Study CHAPTER TWO: LITERATURE REVIEW 1. Introduction 2. Types of Bank Frauds 3. Causes of Fraud 4. Effects of Fraud on Banks 5. Internal Audit function 6. Fraud and Internal Audit 7. Fraud Prevention 1. General Measures 2. Specific Preventive Measures 8. Elements of Fraud Auditing 9. Measures of Controlling Fraud in Banks 10. StatementRead MoreComparative Analysis Of Fair Value And Historical Cost Accounting On Reported Profit1659 Words   |  7 PagesTitle: Comparative Analysis Of Fair Value And Historical Cost Accounting On Reported Profit: A Study Of Selected Manufacturing Companies In Nigeria. (BESSONG, 2012) Study the importance of historical value and fair value cost accounting on reported profit. The study discussed how fair value accounting and historical cost accounting will have effect on the reported profit. However it is said that key objective of any business is to earn profit and it is also equally important to report the profitRead MoreCase Study 1 Fraud Essay1128 Words   |  5 PagesCase Study1: And the Fraud Continues A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controlsRead MoreDonald R. Cressey s Theory Of The Occupational Offender1163 Words   |  5 Pagespoint, they started embezzling from their employer (Wells, 2013, p. 13). Cressey’s hypothesis was that embezzlers or â€Å"trust violators† had three common characteristics (Wells, 2013, p. 13). These three characteristics would later become known as the â€Å"fraud triangle† (Wells, 2013, p. 13). Frist, the trust violator had to have a â€Å"non-shareable financial problem† (Wells, 2013, p. 13). A non-sharable financial problem was a problem that the embezzler, for whatever reason, wouldn’t share with someone elseRead MoreUmmary Of The Issues In The DHB Industries990 Words   |  4 PagesIndustries, Inc. case study.    Background: DHB Industries, Inc. (DHBI) case study concerns an accounting and financial reporting fraud. DHBI made protective body armour for the US military. The former CEO of DHBI, David Brooks (DB), misrepresented DHBIs financial statements, mislead the independent auditors in order to conceal his fraudulent transactions and he misappropriated DHBIs assets and funds for personal expenditures. Main Issues: (1)  Weak corporate governance and lack of internal accountingRead MoreInternal Control Of Nigerian Banking Sector1323 Words   |  6 PagesDISCUSSION This section of this chapter aims to interpret the findings and critically evaluate the study. This research indicates that internal control can prevent and detect fraud in Nigerian banking sectors. The first section of the findings contains the first objectives of this research which is to find out the employee knowledge based on the concept of fraud in banking sector. Therefore, According Biegelman, Martin T, (2013) said The penchant for extortion happens when three basic componentsRead MoreWeek1 Assignment Essay893 Words   |  4 Pagesï » ¿Visit the websites for the Institute of Internal Auditor and the Association of Certified Fraud Examiners: http://www.theiia.org http://www.acfe.com In particular, read the code of ethics for both organizations at: http://www.theiia.org/guidance/additional-resources/ippf-processes/ http://www.acfe.com/about/cfe-rules.asp?copy=ethics 1. How do the codes complement each other? 2. Provide three other notable points of information from each site that either you learned for the first time or have foundRead MoreA Report On Occupational Fraud Essay1433 Words   |  6 Pages B Detection The 2014 ACFE Report on Occupational Fraud expressed that the longer frauds were able to go undetected, the more costly they became. One-quarter of the frauds in the study were detected in the first six months of their occurrence; and for those cases, the median loss was limited to $50,000. This is a more acceptable figure, considering that, the general median loss caused by frauds in the study was $145,000. Hence, we can see that early detection can prove to be less financially

Marketing Objectives Of Cocoa Fruit Marketing Plan Essay

Develop Organisational Marketing Objectives Task 1: 1) Cocoa Delights is a new and innovative company who has worked hard to puncture a hole in the gourmet chocolate industry. They are now selling in retail stores all around Melbourne, but their goal is to expand Australia wide and compete with the sales numbers of the larger international companies in the gourmet chocolate world. I have been analysing the past outcomes and future strategies of Cocoa Delights marketing plan in order to understand their organizational marketing objectives. a) In order to establish a marketing strategy a company must construct a plan which acknowledges their mission, purpose, vision and values. Cocoa Delights is a company with a very specific target consumer of middle to upper class people, who have a love of gourmet chocolate. In order to attract these target consumers their market strategy will need to agree with their needs. The mission of Cocoa Delights is to provide Australians with the highest quality chocolate on the market, while maintaining the promise to trade fairly with overseas suppliers. Their mission ties in well with their values of quality, sustainability, social responsibility (fair trade), customer service and competitive pricing. All of these elements of the company are perfect for attracting their target consumers, but their vision for the company’s future may make it difficult to keep those core values at the forefront. The company’s vision sees it as one ofShow MoreRelatedCocoa Delights Review606 Wo rds   |  3 Pages1. Executive Summary 1.1 Business Introduction Cocoa Delights has been known to be a youngest gourmet chocolate manufacturers in early 21st century. Founded in 2000, cocoa delights has 15 stores chain in Melbourne, Australia in 2015. 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How Is Tension Created And Maintained Between John And Elizabeth, And How Does Their Relationship Change Free Essays

Arthur Miller was born in the year 1915 and grew up during the great depression. His fathers business crashed during the great depression, this meant there was no money for Arthur miller to exploit his great talent that was play writing. Fortunately through earning small amounts from odd jobs he was able to save up enough to go to university where he received several awards for his early plays. We will write a custom essay sample on How Is Tension Created And Maintained Between John And Elizabeth, And How Does Their Relationship Change? or any similar topic only for you Order Now Arthur Miller wrote The Crucible in the year 1952. He used the play as a way of criticizing the government for what is know as McCarthyism. McCarthyism is a communist witch hunt where anybody could be accused of being communist. One of the many people to be accused was Arthur Miller; this is why the main themes of the play are justice and truth. Arthur Miller normally uses society and individuals as main themes for his plays this can also be seen in the crucible. A good example of this is how all the other members of the puritan community look down on John Proctor for not being a regular church-goer. This is relevant today because it could be translated into a suppression of individuality and a pressure for people to fit into society. Another area it explores is the increase of tension and panic in a society. The Crucible is set in a small puritan town where everybody knew each other and it was a very tight community. The despised local preacher called Parris stumbles across several of the village’s girls performing a sinful dance including his own daughter Betty. While the girls are performing the dance with his slave Tituba , Betty falls into an unconscious state causing panic. The girls are accused of witch craft. The girls admit to this but one of the girls called Abigail who had an affair with one of the central characters called John Procter sees a chance to exploit the situation and claims there are more witches in the village. Abigail still has feelings for John claims that his wife Elizabeth is a witch. John goes to court to appeal against this, he also tells the court about the affair he had with Abigail to ruin her credibility. The court gets Elizabeth to come in and confirm John’s confessions but unfortunately she denies it to save his reputation. John is sentenced to be hung; Elizabeth who has survived so far due to her pregnancy tries to convince John to confess to witchcraft; however he chooses to die with his dignity rather then live without it. The Salem witch trails was a real event and John , Abigail , Elizabeth and some other characters were real people however a lot of the story was written by Arthur Miller. The language of the play is accurate because it uses the correct accents and the characters would have been played by English actors because the modern American accent would not have developed yet. To show the fact that the characters live in a very religious community the characters often make references to the Bible this can be seen were Elizabeth describes Abigail’s affect on the court as ‘ Parting the sea of Israel. This shows that the bible was part of their every day life. Before Act two starts the audience is aware of the tension between John and Elizabeth because of John’s affair with Abigail. Despite having an affair with Abigail John still loves his wife and wants to protect her. A good example of this is were Abigail accuses Elizabeth of being sickly and John says ‘ You will say nothing of Elizabeth. ‘ Which show he wants to protect her over Abigail . The tone he uses is angry and full of frustration which shows that he is frustrated and ashamed for having an affair. Read also Intro to Public Relations Notes The setting of the scene makes the audience question Johns commitment to Elizabeth , the scene is set eight days after Abigail told John that her actions are nothing to do with revealing that in fact there are no witches in the village and they where just dancing sinfully. This show that John is withholding information from Elizabeth and the rest of the community and the audience is aware of this. The room that the scene is set in is described as long, dark with a low ceiling which could be a metaphor for John and Elizabeth’s relationship. It is also set in this way to create pressure and claustrophobia in the scene ahead which adds to the tension. In contrast to this Elizabeth can be heard singing to the her children which paints a picture of a loving mother in the audiences minds and can create a sense of empathy with the character. It also gives the impression that John and Elizabeth where once a loving couple. The pattern of speech used by the characters increase the sense of tension because it is in short sharp snippets spoken rushed as if not to offend one another by speaking to long. It is clear that Elizabeth concerned why John is late and she decides to confront him about. She expresses her worry by saying ‘You come so late I thought you’d gone to Salem this afternoon. ‘ John lies and says ‘Why! I have no business in Salem. ‘ Which the audience knows is untrue because he was previously in Salem where he met Abigail, this shows that John feels he has to lie to Elizabeth and that it is easier then telling the truth. John then checks the stew and is displeased with its taste so he proceeds to add more seasoning. When he is served the stew and tasted it he compliments Elizabeth on the seasoning. These shows how troubled their relationship is because John would rather lie about the seasoning of the stew then tell her it was under seasoned. The couple begin to discuss the witch trials and Elizabeth asks John to go to court and explain to the court about Abigail’s trickery. John dismisses this and says things like ‘I’ll think on it. ‘ And the stage actions show him considering where or not to tell the court. Elizabeth thinks he is trying to protect Abigail but really he doesn’t want Elizabeth and himself to be accused of witchcraft. The couple begin to argue and use longer sentences to express their true feelings which break the tension that has been built up through out the scene. In this scene the couple are trying to avoid confrontation or trying to please one another we can see this from the stage directions where it says ‘Holding back a full condemnation of her’ and ‘She doesn’t want friction. ‘ Act three is the most important scene involving John and Elizabeth. John has gone to the court to confess about his affair with Abigail which will discredited her and prove her accusations of witch craft false. To prove Johns confession true Danforth the judge asks Elizabeth to be brought before the court who John claims can never tell a lie. This increase tension because if Elizabeth does lie it will worse because John has put all his trust in Elizabeth’s confession. When Elizabeth goes into the room John and Abigail’s backs are turned, this is so they can’t give hints to Elizabeth but it also is a represent how Elizabeth is feeling about the two. She thinks that John has turned his back on her. The tension is enhanced by Arthur Miller gives stage direction ‘She glances at Proctor for a clue. ‘ and ‘She turns to Abigail. ‘ This shows how Elizabeth is trouble over making the right decision. When she finally answers we can see that she is still trouble at her decision ‘(in agony) No sir’. With this Elizabeth has condemned many people however she has realized that she still loves John and will even lie ,something that goes completely against her beliefs to save his reputation. It also shows that Elizabeth is not perfect and has begun to forgive John. In the next scene John is about to be hung however Elizabeth has a chance to convince him to confess which will save his life but ruin his reputation. This instantly creates tension because it gives Elizabeth a chance to save John. The audience wants to see Elizabeth ask John to lie and confess to witch craft but the tension is prolonged because Elizabeth fails to give John a final answer. She puts the decision in his hands by saying ‘do as you will. ‘ John wants Elizabeth to be part of the decision because he says ‘would you give them such a lie. Showing that John respects her feelings and considers her to be his partner raising the tension even more because of the couples new found care for each other. We finally see her true feelings where she tells him ‘and yet you’ve not confessed till now. That speaks goodness in you. ‘ and if she does not give an answer John will continue to deny the charges building more tension because the audience now fe ars for Johns life. John and Elizabeth’s relationship is still getting better however John still thinks of himself as ‘a fraud’ and a ‘no good man’. Elizabeth doesn’t want John to think this , this is made clear where she says ‘Do as you will, do as you will. ‘ Which shows that she is giving him space so that he can prove to himself that he is a good man. John decides against confessing and by doing so he now feels he is worthy of Elizabeth. Elizabeth finally forgives John telling him her true feelings ‘John I counted myself so poorly made, no honest love could come to me! Suspicion kissed you when I did; I never knew how to say my love. It was a cold house I kept. ‘ This also shows that she has recognised her own failings. Despite the fact that John is going to hang the audience now know they both recognise their love for each over which is signified by Johns kiss ‘he lifts her, and kisses her now with great passion. ‘ Showing they are not afraid to love each other. The play shows us that it is dangerous not to speak your mind and that it can lead to great tragedies. It is also dangerous for society to put someone in a position where they cannot speak their mind. John and Elizabeth realized this and if they had talked about their feelings more then Elizabeth would not have had to of lied. We can also see the parallels the play shares with the McCarthy communist hunt. The death at the end is important because it was preventable the play also shows how lies and deceit can lead to pointless deaths. We can also see the pressure needed for people to talk about there true feelings , only when John was about to hang did the pair express their love for each other and in contrast to this when they where living a comfortable life before the trials they where constantly wanting to please one another and not disrupt their normal everyday existence. How to cite How Is Tension Created And Maintained Between John And Elizabeth, And How Does Their Relationship Change?, Papers

The Crucible Reputation Essay Example For Students

The Crucible Reputation Essay The scene under consideration in Act 2 is characterised by an atmosphere of mounting tension. This is a feature of the play as a whole as we observe the community of Salem being overtaken by collective hysteria in which, ultimately, no one feels safe. History provides many examples of the way in which religious movements and political ideologies can be distorted into forms that represent a contradiction of the teachings expanded and the examples set by their founders. Arthur Miller draws parallels between the Salem witch-hunt and America in the McCarthy era, but, the reigns of terror unleashed by Stalin in the 1930s, by Mao Tse-Tung in the Cultural Revolution and by Robespierre in the French Revolution are other examples. Whenever a single ideology is granted, a pre-eminent position is established in a community at the expense of human rights and democratic freedoms, there is an ever present danger that ignorance, bigotry and fanaticism may overwhelm a community, leading to monstrous injustice which no one feels able to challenge. No one feels able to doubt Abigail because the penalty for such honesty, as Proctor learns in the climax of the play, is death. The scene under consideration is pivotal because by the end of it, the truth of Proctors assertion that the world is gone daft with this nonsense is clear. The fate of all the adults in the community lies in the hands of a group of children led by the duplicitous Abigail Williams. Hale enters at a particularly tense moment: John Proctor and his wife Elizabeth have just been arguing over Johns past adulterous liaison with Abigail Williams, and this is part of the reason for the tense atmosphere between the three of them. The other reason is the fact that Hale is involved in the investigation into the charges of witchcraft, having been called in because of his supposed expertise in the subject-and both John and Elizabeth are aware of this. However, both sides attempt to diffuse the tension in the atmosphere: Hale is said to have a quality of deference, even of guilt, about his manner, and begins by wishing them Good evening, and saying to Elizabeth I hope I do not startle you. The Proctors for their part, make every effort to conceal their emotional turmoil: John, still in his shock, extends a hearty welcome to Hale, attempting to convey the impression that he assumes Hales visit to be no more than a social call. He says, Come in, come in, and later to explain his nervousness, comments that we are not used to visitors after dark, but you are welcome sir. Elizabeth attempts to excuse her startled look on Hales appearance by haltingly explaining its only that I heard no horse, and later sits down at Hales invitation never letting him out of her sight. There is an awkward pause, and then Proctor to break the silence offers Hale a glass of cider. Finally Hale wets his lips and proceeds to explain the purpose of his visit: he has come to discuss with them the fact that Elizabeths name has been mentioned in court. By situating Hales arrival at this high moment of tension between John and Elizabeth and by underlining the bluff heartiness of Johns welcome and Elizabeths startled, uneasy reaction to Hales appearance in this way, Miller has created an atmosphere of tension and suspense. Hale is cast in the role of inquisitor, whose duty it is to uncover heresy and blasphemy in the community. His sincerity is not in doubt, but sincerity alone does not justify or validate someones actions. By portraying the Proctors as trying desperately to conceal their apprehension, Miller presents them as vulnerable. They are not yet under arrest, Hale has come of his own authority, but all that could easily change- and as a result of the tense atmosphere created by Miller, the audience is well aware of this.