Health Case Study

One of the advantages to being a CPA within a large firm is that you have the opportunity to work in many areas of accounting for many varied company clients. This will give me a multifaceted experience level not easily obtained while working independently or for a smaller firm. I hope to have the opportunity to do some forensic accounting work where I would prove suspected embezzlement within a client’s company (S. Westfield, personal interview, August 1, 2008).

While financial abuse often goes unreported, short changed revealed that 15% of respondents reported that the person living with dementia have been a victim of financial abuse such as cold calling, scam mail or miss-selling. 62% of carers reported that the person they care for had been approached by cold callers or doorstep sales people, and 70% reported that telephone callers routinely targeted the person they care for. Not only have people lost money, but they and their families have also been suffering stress, exhaustion and frustration as a result.

What are the risk factors of elder financial exploitation? In a study conducted by the University of Virginia, there are four predominant types of elder maltreatment. This includes pure financial exploitation (PFE), physical abuse, neglect by others or self, and hybrid financial exploitation (HFE). PFE is elder financial exploitation without any other abuse cited. PFE is usually conducted by unknown individuals to the elderly victim, as in mortgage or home improvement scams. HFE is a combination of elder financial exploitation that includes neglect and/or abuse. HFE usually occurs when the victim is dependent on their caregiver who has power and authority over them. This study addressed the understudied societal problems of financial

Firstly, financial abuse is defined as the illegal or improper use of funds or assets that do not belong to oneself (British Columbia Law Institute, 2011). In a NBC article by Herb Weisbaum (2011), he talks about why the elderly become targets of financial abuse, “Con artists also prey on older people, because as a group they control a tremendous amount of this country’s wealth. And in many cases, poor health — both physical and mental — makes them easy targets for financial predators” (para.

WEEP is both unique and promising because the program focuses on education of the elder and their caregiver simultaneously. This combined learning experience will strengthen the elder-caregiver relationship, increase financial knowledge, while improving awareness of fraud and exploitation, thus leading to increased reporting and more prudent behavior. The U.S. Department of Justice and the Department of Health and Human Services outlined in the Elder Justice Roadmap (PBS, 2014) ways in which elder exploitation can be combated through awareness, education efforts to support caregiver(s), and supportive education resources in the community. The Roadmap suggests that there should be better support for the tens of millions of paid and unpaid

My first placement was in Monash Oakleigh Legal Service (MOLS), a community legal centre which provides free advice and assistance. I noticed numerous cases which related to elder financial issues within families. Research indicates that the most commonly reported form of abuse of older people in Australia is financial abuse (Bagshaw et al. 2013, p. 86). Different from physical or psychological abuse, features and signs of financial abuse may not be obvious and the impact may not be instant that it is difficult for social workers to identity or detect financial abuse within those elder financial issues.

Adhere to the Bank's 50.5.10 - Financial Elder or Dependent Adult Abuse Procedures, specifically, related to Mandated Reporting Obligations, which includes guidelines for the review and approval of the investigation and suspicious reports to verify the accuracy and completeness of the report prior to filing. Enforce appropriate action for noncompliance with

One example being, ”Not allowing the senior to spend money the way he/she wants, malnutrition, missing belongings, unusual activity in bank account, sudden changes in senior’s will...etc”. Often, when seniors are financially exploited, they are subject to other forms of mistreatment, physical abuse being an example.

In recent years, the shameful subject of elder abuse has gained more awareness among community members. In particular, the complexity of elder financial abuse often makes manipulative dealings by fraudsters difficult to identify and separate from actual permissive transactions made by older victims. The result is that these cases are very rarely prosecuted and many other undetected cases continue to fall far below the radar of society. The consequences of financial exploitation of older adults are reaching far beyond the immediate distress of financial depletion. Victims may also experience declines in physical and mental health as well as the risk of a decrease in life expectancy (Kemp & Mosqueda, 2005). The purpose of the following

Among the most reprehensible forms of crime, in the minds of many, are the scam operations that are committed against the elderly on a daily basis. Particularly targeting those that criminals suspect may have accumulated wealth over the years, scams against the elderly show no signs of abating in any sense.

AICPA Code of Professional Conduct principles prevents vises such as fraud that are experienced in accountancy field. Audit is the best measure of the effect of the fraud that are imposed to investors by accountants. The relationship of the investors and account holders are supposed to be affirmed through auditing to ensure accounting principles are upheld(Weirich, Pearson, & Churyk, 2010). Improper loss of the funds through propagation of the accountant officer should be treated as fraud and criminal activity that should lead to prosecution. Therefore, the paper seeks to relate two fraud cases that have been audited and presenting AICPA Code of

There is no doubt that many elderly individuals will eventually need assistance with managing their finances, which includes making purchases on their behalf. Thus the older adult may provide their caregiver with cash, cheques and in some cases they may implement a power of attorney. Essentially, powers of attorney grant considerable power to named individuals, over both finances and property. Unfortunately, over time what evolves is an over spending of the older adults money solely benefiting the caregiver, moreover, these caregivers begin to develop a sense of entitlement (Gibson & Honn Qualls, 2012, p. 27). When considering financial abuse committed by strangers, many simple scams against older adults have surfaced over the years. For example, individuals may offer handyman services, recognizing that many older adults struggle with chores such as exterior window washing. However once paid, the individuals do not return to complete the job. It is interesting to note that of all reported elder abuse cases, financial abuse makes up more than half of all complaints (Friese & Collopy, 2010, p. 60).

Imagine trusting your hard-earned money like your retirement savings to a financial adviser or Certified Public Accountants (CPA) only to lose it all in a fraudulent Ponzi scheme. In today’s world of business many organizations, financial planners and accountants are in the news due to the financial ethical breaches that have affected their customers, employees, and the general public. A CPA has to be responsible for their audits and take any punishments as a result of their mistakes, incompetence or illegal actions. CPAs are expected to have integrity in their work,

Work, sacrifice, and all the time put in together to become a CPA is not only the beginning of what can be an amazing career but also it is the beginning of you performing and complying with the government and the other entities who rules your career, so you can decrease the risk of being liable. As basic is may sound every CPA must exercise their actions with skill and care as any other prudent professional will do in the same circumstances, it is then when negligence take place. Negligence, which is the failure to exercise the general duty of performance also it is a breach of duty and that make a professional liable for to all person who

What draws me into the field of accountancy? Why do I want to launch a career as a certified public accountant (CPA)? What is there about numbers, spreadsheets, profit and loss statements, audits, inventory and fiduciary responsibility that appeal me? In this paper I will describe in detail the reasons why I am attracted to this field. Also, what are the duties and responsibilities of a CPA? How available are job openings for a person with the education and experience to work as a CPA? How well to companies compensate those hired as CPAs? These questions and issues will be thoroughly reviewed in this paper.