Integrated Cases Chapter 5

When a law enforcement officer or other public employee is accused of potentially criminal conduct, they may face three different kinds of interviews or interrogations. If an officer is interviewed as a criminal suspect, they have the absolute right to decline to answer any questions, or to insist that they have a lawyer of their choosing to attend the interview. The first is type is during a criminal investigation; the second is during a disciplinary investigation and finally during the course of civil litigation where there has been damages. During a criminal interview, there is no professional, ethical or moral duty to participate especially without the assistance of an attorney to represent the officer under investigation. It has come to a surprise that many experienced officers will waive their right to silence and give the investigators an audio recorded statement. Some of the inexperienced criminals do not make incriminating statements. The motive for cooperation is to avoid unfavorable publicity.

Employers must always check for potential weaknesses in the internal process, and most importantly be on the lookout for fraud; early detection will minimize the impact fraud has on employees, shareholders, and stakeholders (Downing, 2015).

Internal control has different control principles, establishing responsibility focuses on allotting different tasks to a concerned person, like each sales person should have an individual sales register. Different controls on physical, mechanical and electronic should be exercised as this will help in reducing the unauthorized use of different resources, this is essential for safeguarding assets and

In fraud committed against organizations, the victim of fraud is the employee’s organization. In frauds committed on behalf of an organization, executives usually are involved in some type of financial statement fraud; typically, to make the company’s reported financial results appear better than they actually are. In this second case, the victims are investors in the company’s stock. A third way to classify frauds is via the use of the ACFE’s occupational fraud definition, “the use of one’s occupation for personnel enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets” (ACFE, 2010). The ACFE includes three major categories of occupational fraud: asset misappropriations involves the theft or misuse of the organization’s assets, corruption involves the wrongful use of influence in a business transaction in order to procure benefits contrary to their duty to their employer, and fraudulent financial statements involving falsification of an organization’s financial statements for personal gain.

I’d suggest to her to have her employees trained for the prevention and detection of fraud and give her the important internal control needed to prevent and detect fraud. The preventive control would be to have segregation of duties or dual custody to ensure that everything is accurately recorded and presented, another is she should implement a system of authorization to verify all transactions, inflows and outflows of cash, are recorded properly and have physical safeguards and not have one employee have unlimited access to everything as this will probably lead to theft and manipulation of data. For her detective controls, the organization should have independent checks to see if there is any suspicious activities or information found within the company and lastly, she must have documents and records of everything as this will be used as evidence when fraud is detected. (Albrecht et. al 2014, p.

Fraud deterrence occurs in several stages, and the key is to know that prevention is not to same as deterrence. First is the impact of controls

There are various forms of cash fraud. One of the common schemes is cash larceny. Cash larceny refers to employees intentionally taking away cash from their employer without the employer’s knowledge and consent (Wells, 2014). Employees who have direct access to cash are more likely to commit cash larceny (Wells, 2014). Cash larceny is more likely to occur if there are weak internal controls in an organization. Weak internal controls make it difficult to prevent and detect an occurrence of fraud. This paper seeks to evaluate a recent case of cash larceny by a former employee at Glen Aubrey Fire Company.

Internal controls are vital to any company’s business and financial sustainability. Internal controls consist of measures taken by a company safeguarding against fraud, and theft. Internal controls ensure accuracy and reliability in accounting data, and secure policies within the organization. Further, internal controls evaluate all levels of performance. These are addressed with five principles

Potential for misstatement & fraud: Compliance with the established procedures and controls were found to be ineffective. The fraud reporting process, technically put in place does not serve its intended purpose. The ineffective control environment has created an attitude and tone across the company where errors and inappropriate behavior may be seen as acceptable, thus creating opportunity for concealing fraud and potential misstatements.

§101 cases are a particularly vexing subject for currently practicing patent attorneys. Specifically, there is a high state of flux with respect to patentable subject matter, causing uncertainty not only for attorneys, but also for inventors, investors, and engineers, whose life blood depends upon the patent system. A “101 conundrum” has resulted from Supreme Court’s creation of ineligible categories of patentable subject matter. These categories are: abstract ideas, laws of nature, and naturally occurring substances . The Supreme Court has neglected to define these categories , and attempts to define them have been rejected . While determining whether a claimed invention is directed to an ineligible category or not should be binary and

There are several procedures that should be considered when implementing internal controls for your business. There should be a segregation of duties between different individuals to lessen the threat of

Fraudulent, erroneous, and illegal acts committed by a public company, usually at a managerial or executive level, have been a very serious problem for many years and have prompted development of strict and updated regulations, such as the Sarbanes-Oxley Act, in an attempt to prevent these occurrences. Unfortunately, these new or updated regulations are not enough to prevent these acts from happening, thus not alleviating the auditors of their responsibility to detect fraud. Some methods that management and auditors can employ to prevent and detect fraud, errors, and illegal acts are: improving knowledge, improving skills,

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 controls that companies used to protect themselves such as: Segregation of duties, asset purchases, supervisor review, internal audits and adequate documents and records. This paper will discuss several topics from a case study about And the Fraud

Effective internal controls protect a company’s assets, maintain compliance, improve operations, prevent fraud, and promote accuracy in financial reporting. In 1992 the

INTERNAL CONTROL AND FRAUD DETECTION IN THE BANKING INDUSTRY (A CASE STUDY OF GUARANTEE TRUST BANK PLC)