PADM 700 Discussion Module 6

Management oversight on internal controls and communication is a key in successfully implementing the financial strategies of any organization. Management cannot do every single aspect in the company, and must rely on communication and ethical conduct to get business done. Review at least two news articles or publications about current and future trends in the management of internal processes and their impact on companies' performance. How does the specific authorization and management oversight of financial capital processes affect internal controls? Provide examples of failed authorization and successful authorization of internal controls and the financial capital outcomes.

what are ways the external auditor's responsibilities regarding a public company's system of internal controls have changed since SAS 78 became effective in the late 1990s. Were these changes necessary? Do you believe the changes have been effective at reducing risk for the company and the users of the financial statements?  Explain your rationale.

Assume you are a system analyst in charge of a new Banking Information System that is being developed specifically for the organization you work for. Discuss any 5 key steps you will take to ensure the project succeeds. The project is currently at the time at which the problem is being identified.

Write a Wiki in about 150-200 words about Public Budgeting. Also, write about any one way of collecting empirical data

Perform the task below. Suppose you have savings in the bank that you want to invest in stocks and bonds instead of setting up in a new business. Write one to two paragraphs discussing what method you can use to make the investment and explain the reasons for your decision.

What is the main reason lenders pay borrowers' property taxes through a pre-paid escrow account? It prevents a tax lien from being applied to the home. The tax lien would be senior to the mortgage lien. It prevents the borrower from refinancing with another lender because they would lose all of their escrow funds. It allows the lender to earn interest on the pre- paid tax money as itsits in the account. It allows the lender to take advantage of corporate tax deductions.

The text describes three ways to restore solvency to the Social Security trust fund. Which of these do you favor and why? Would you support means testing of Social Security beneficiaries? Why or why not? What suggestions would you offer to encourage people to save privately for retirement? What barriers exist that affect people’s retirement savings, and how would your ideas address those barriers?

What is the main reason lenders pay borrowers' property taxes through a pre-paid escrow account? It prevents a tax lien from being applied to the home. The tax lien would be senior to the mortgage lien. It allows the lender to take advantage of corporate tax deductions. It prevents the borrower from refinancing with another lender because they would lose all of their escrow funds. It allows the lender to earn interest on the pre- paid tax money as it sits in the account. Submit

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.

The first step an insurance company should take in establishing an anti-money laundering program is to A) train staff B) ask the US Treasury Department for guidance C) conduct a risk assessment D) obtain suspicious activity reporting forms

Your charitable organization is working to strengthen its capacity to solicit financial support from donors. What specific kind of information are required in order to accomplish this objective? What kinds of analyses may be performed on this data using the tools provided by business intelligence technologies?

Waste Management Scandal (1998), is one of the top 10 accounting scandals of all times. The Securities and Exchange Commission (SEC) found the company's owner and former CEO, Dean L Buntrock, guilty, along with several other top executives, and Waste Management's auditors, Arthur Andersen. What is meant by public interest of an auditor? Do we find the auditors — Arthur Anderson, serving their duty?

Describe a company's fraud prevention programme and identify any improvements that might be necessary to prevent embezzlement fraud or at least discover it sooner.

There are three ways: from Liabilities, from issuing Stocks, or from Profitable Operations. Describe each of these three ways and indicate where on the financial statements you could find the information about each. Hint: It might be in more than one place. Give the advantages and disadvantages for each. Give an example for each and show how you would record the transaction in the accounting. Please do not copy and paste from other websites.

7. Otherwise respectable policyholders and consumers who commit insurance fraud frequently in a moment of greed or desperation are termed: soft fraud perpetrators b. opportunists entrepreneurs . hard fraud perpetrators

The Securities and Exchange Commission in the U.S.A. charged Ernst & Young LLP (EY) for cheating by its audit professionals and fined the organization a $100 million penalty. Identify the ethical aspects of this episode, analyze the likely factors that led to this occurrence, and examine the remedial measures that the organization needs to take to prevent this from happening again.

Disruptors are focused on a particular innovative technology or process in everything from mobile payments to insurance. they have been attacking some of the most profitable elements of the financial services value chain. This has been particularly damaging to the incumbents who have historically subsidized important but less profitable service offerings.    Identify an existing and real life example on how a specific financial disruptor have affected a certain industry/company.    How did the certain industry/company have mitigated the damaging effect of the Financial Disruptor?

Pls answer and explain in your own words?

The article is on the Olympus A scandal  Description Describe the main issue in this case as well as the main players and their role Analysis What are the main issues in this case that have led to the collapse of Olympus? Discuss each issue and clearly explain how it contributed. Remember to include accounting-related shenanigans used by managers. Options/Alternatives What options did Woodford have? Prescriptions/Recommendations What recommendations would you make for the company, the accounting profession, and the government? Actions What action/s would you want the company, the accounting profession, and the government and other relevant bodies to take immediately?

Mortgage-Backed securities were one of the so-called toxic assets to come from the 2008 financial crisis. They were not well understood nor did anyone (or very few people anyway) know the depth and extent of their impact. Why were they bad? What triggered all of the misery that followed? That is why did these instruments not work as advertised?

How can we reduce this risk in financial reporting process? "How does management ensure that information is being accessed only by authorized and relevant employees?” under the risks and control issues of financial reporting process?"