Ernie Sell Case Summary

The case Charles Schwab & Co. Inc. v. Douglas Castro asserts that Douglas Castro, a former

Marvin Anderson is a man who was falsely accused of abduction, rape, robbery, and sodomy. This is his story. On July 17, 1982, a young woman was raped by a black man whom she said was a total stranger. After she reported the crime, a police officer singled out Anderson as a suspect because the perpetrator had told the victim that he “had a white girl,” and Anderson was the only black man the officer knew who lived with a white woman. Because Anderson had no criminal record, the officer went to Anderson’s employer and obtained a color employment photo identification card. The victim was shown the color identification card, along with six black-and-white mug shots, and identified Anderson as her assailant. Within an

Stephen Richards’s actions were extremely serious; manipulating Computer Associates’ quarter end cutoff to align CA’s reported financial results with market expectations by violating the generally accepted accounting principles and their financial reporting responsibilities. According to the U.S. Securities and Exchange Commission, Richards with other CA executives extended CA’s fiscal quarter, “ instructed and allowed subordinates to negotiate and obtain contracts after quarter end while knowing, or recklessly disregarding the fact that, CA would improperly recognize the revenue from those contracts, and failed to alert CA’s Finance or Sales Accounting Department that CA salespersons

Grant Thornton should be held liable for its reckless negligence because it ultimately prolonged Keystone bank’s ability to continue to partake in fraudulent activities. If the accounting firm would have held itself to GAAS, generally accepted as the minimum standard of professional conduct in performing an audit, Thornton would have known to exercise “heightened skepticism” during this high risk of fraud. Secondly, GAAS required written confirmations from third parties servicing assets in regards to a bank’s balance sheet. Not only did Thornton fail to obtain this written requirement, it also recklessly relied on an oral statement. GAAS also required in a high risk audit that monthly remittances of interest income on assets being serviced by

The one pattern within the data that appears to be inconsistent yet if the auditors had established an internal control systems would be Monus the founder moving so freely throughout every aspect of the company with no one checking his movements. From choosing what properties to purchase to purchasing supplies. In any company there should be segregation of duties. For example, the person making the deposits should not be the person writing the checks. Had there been stipulations made it would not have been so convenient to commit the

Professional auditing standards discuss the three key “conditions” that are typically present when a financial fraud occurs and identify a lengthy list of “fraud risk factors.”

It is clear from the case study that Alistair knows the contract is unorthodox. The problem he faces is whether he should overlook the bribe or report it to the board. The board of directors expects Alistair to tell the truth and report the bribe because of: his position as Chief Legal Officer, the board has a very strong ethics policy and they are wary of unethical activities.

On Tuesday (October 11th), we are requesting Council‘s approval of a resolution authorizing the purchase of 1750 Grant Street (APN: 224-02-022).

On October 31st, 2015 at 0600, Deputy Oberle responded to a complaint from Steve Foster of Four Seasons Store. Mr. Foster advised Deputy Oberle that Amy white had came into his store on October 19th, 2015 and asked him to cash three payroll checks she had from Jason McNew. Mr. foster stated he cashed two of the checks but not the third one because it was too much to be cashed by him. Mr. Foster sted the checks pay to the order was blank and he filled in Foster's Four Season.

Jon Fries who was the CEO of F&C Company. He orchestrated a large scale financial fraud that led to the downfall of the company. Fries used inappropriate methods to realize his company's operating results, to inflate revenues and overstate period-end inventories. He used his position to come up with a big fraud which was an unethical approach by a CEO of a Company. It was highly unethical (-100 scale) to systematically overstate sales revenues by backdating the valid sales transactions.

b. The bogus debit memos for accounts payable. – The most reliable form of evidence that the auditors could have obtained in this situation would be confirmations. The auditors should have sent confirmations to vendors, suppliers, and creditors confirming the amount that Crazy Eddie owed them. The amounts reportedly owed could then be matched with the amounts recorded in the company’s accounting records. Auditors should question any discrepancies.

Additional steps should have been taken by the auditors when they received the smudged fax copy printed on the Bank of America letterhead. As mentioned before, the evaluation of the evidence obtained is as important as requesting it. The firm did not confirm the forged documents with the bank; for this reason, the evidence remained unreliable and the forgery wasn’t revealed until later. Auditors should have been concerned with knowing where and whom the confirmation letters came from. Was the initial confirmation request mailed directly by Grant Thorton SpA or by Parmalat or was it obtained directly from the bank? Auditors should be aware that confirmations that are sent through fax are much less reliable than confirmations sent by mail. Their duty was to find out if the correct process was altered in any way.

Stephen Richards’ actions were plain and simply criminal, and therefore very serious. Richards used his position of power as the Global head of sales to compel clients into boosting sales earnings by quarter. And ultimately this led to "overly aggressive accounting practices" to boost their reported earnings. It was well known to CA’s

In the case of Steinway & Sons, two investment bankers, Dana Messina and Kyle Kirkland are faced with the question of how to build on the business. Steinway & Sons was established in 1853 in New York City, by Henry Engelhard Steinway, a German immigrant who became well known for his technical excellence in piano production. It is a 140 year old company, and has been recognized as a leader in the market for high quality grand pianos. The primary problem facing Messina and Kirkland is whether they should continue producing high-end, top quality vertical and grand pianos or pursue a more aggressive plan, including the mid-priced line of Steinway pianos. Does it make sense to sell a mid-priced

(1)Eddie had financed Sam’s college degree in accounting and hired him to serve as the CFO. (2)Eddie kept skimming cash from his private business to avoid