Essay About Auditing (need 10 sentences, concise and direct to the point) An employee at an electrical engineering firm was unhappy about being overlooked for apromotion opportunity and decided to resign. He started working at a competing firm in the samecity. The former firm soon realized that their innovative designs in engineering solutions werebeing made available at the new firm where the employee was now working. After a thoroughinvestigation, it was found that the disgruntled employee's account and password (and thereforehis access to confidential designs) were still active. The investigation indicated that the employeehad regularly accessed his account and reviewed the confidential designs.a. Identify the type of fraud that took place. (e.g. misappropriation of assets orfraudulent financial reporting)b. Using the fraud triangle, identify the following:What motivated the employee to commit the fraud?What are his rationalizations (e.g. reasons) for committing the fraud?What are the opportunities that enable him to commit the fraud?

a. The type of fraud that took place, in this case, is Misappropriation of assets. In this Case,…

a. Identify the type of fraud that took place. (e.g. misappropriation of assets o fraudulent financial reporting) b. Using the fraud triangle, identify the following: What motivated the employee to commit the fraud? What are his rationalizations (e.g. reasons) for committing the fraud? What are the opportunities that enable him to commit the fraud?

a. Identify the type of fraud that took place. (e.g. misappropriation of assets o fraudulent financial reporting) b. Using the fraud triangle, identify the following: What motivated the employee to commit the fraud? What are his rationalizations (e.g. reasons) for committing the fraud? What are the opportunities that enable him to commit the fraud?

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter6: Professional Accounting In The Public Interest

Section: Chapter Questions

Problem 27Q

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An employee at an electrical engineering firm was unhappy about being overlooked for a promotion opportunity and decided to resign. He started working at a competing firm in the same city. The former firm soon realized that their innovative designs in engineering solutions were being made available at the new firm where the employee was now working. After a thorough investigation, it was found that the disgruntled employee’s account and password (and therefore his access to confidential designs) were still active. The investigation indicated that the employee had regularly accessed his account and reviewed the confidential designs. REQUIRED Identify and explain the type of fraud that has taken place. What must have motivated the employee to commit the fraud? Explain your answer. List two contributing factors to the type of fraud that had taken place.
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How could Pascal and Super Tech have identified and addressed this risk? What should Pascal do now? Case - Pascal is the manager of software development for Super Tech. He discovered that Bill, the lead software designer, has announced that he is leaving the company next week. Pascal finds that Bill has accepted a job with Super Tech main competitor. Pascal fear that in his new job, Bill will use technology developed while at the company and disclose the identities of key customers.
Donald Waddell got a job at the Boyce Thompson Institute for Plant Research. Waddell did not have an employment contract for a fixed term, and the institute’s employee manual said that his job was “terminable at will.” Soon after he was hired, the institute implemented a whistleblower policy designed to encourage “the highest standards of financial reporting and lawful and ethical behavior.” Waddell repeatedly told his supervisor, Sophia Darling, that she needed to file certain financial documents more promptly. Darling fired Waddell, telling him that he was disrespectful and insubordinate. Define “at will” employment and wrongful termination. Based on the evidence given, was Waddell wrongfully terminated? Why, or why not.
Mr X, head of the accounting department, conducted a meeting with a system professional, Miss Tiffany, to develop a new accounting information system. During this meeting, Miss Tiffany suggested that the best way to start is first to examine the old system, such as reviewing key documents and observing the workers perform their tasks. Then, it can be determined which aspects are working well and which should be preserved. Mr X disagrees with this suggestion. He argues that they have been through these types of projects before and what always ends up happening is that they do not get the new system they are promised; instead they get a modified version of the old system. Miss Tiffany assures him that it will not happen this time. Tiffany is of the view that she just wants a thorough understanding of what is working well and what is not. However, Mr X does not agree with this opinion. His stance is as follows: “I would feel more comfortable if we first started with a list of our…
The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversation regarding the development of a new information system for the company: CIO: The way to go about the analysis is to first examine the old system, such as reviewing key documents and observing the workers performing their tasks. Then we can determine which aspects are working well and which should be preserved. MD: We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead we get a modified version of the old system. CIO: I can assure you that will not happen this time. My team just want a thorough understanding of what is working well and what is not. MD: I would feel much more comfortable if we first started with a list of our requirements. We should spend more time in determining what exactly we want the system to do upfront. Then your team can come in and determine…
The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversation regarding the development of a new information system for the company: CIO: The way to go about the analysis is to first examine the old system, such as reviewing key documents and observing the workers performing their tasks. Then we can determine which aspects are working well and which should be preserved. MD: We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead, we get a modified version of the old system. CIO: I can assure you that this will not happen this time. My team just wants a thorough understanding of what is working well and what is not. MD: I would feel much more comfortable if we first started with a list of our requirements. We should spend more time determining what exactly we want the system to do upfront. Then your team can come in and…
The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversation regarding the development of a new information system for the company: CIO: The way to go about the analysis is to first examine the old system, such as reviewing key documents and observing the workers performing their tasks. Then we can determine which aspects are working well and which should be preserved. MD: We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead, we get a modified version of the old system. CIO: I can assure you that this will not happen this time. My team just wants a thorough understanding of what is working well and what is not. MD: I would feel much more comfortable if we first started with a list of our requirements. We should spend more time determining what exactly we want the system to do upfront. Then your team can come in and…
The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversation regarding the development of a new information system for the company: CIO: The way to go about the analysis is to first examine the old system, such as reviewing key documents and observing the workers performing their tasks. Then we can determine which aspects are working well and which should be preserved. MD: We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead we get a modified version of the old system. CIO: I can assure you that will not happen this time. My team just want a thorough understanding of what is working well and what is not. MD: I would feel much more comfortable if we first started with a list of our requirements. We should spend more time in determining what exactly we want the system to do upfront. Then your team can come in and determine…
The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversation regarding the development of a new information system for the company: CIO: The way to go about the analysis is to first examine the old system, such as reviewing key documents and observing the workers performing their tasks. Then we can determine which aspects are working well and which should be preserved. MD: We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead we get a modified version of the old system. CIO: I can assure you that will not happen this time. My team just want a thorough understanding of what is working well and what is not. MD: I would feel much more comfortable if we first started with a list of our requirements. We should spend more time in determining what exactly we want the system to do upfront. Then your team can come in and determine…
The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had the following conversation regarding the development of a new information system for the company:CIO: The way to go about the analysis is to first examine the old system, such as reviewing keydocuments and observing the workers performing their tasks. Then we can determine which aspectsare working well and which should be preserved.MD: We have been through these types of projects before, and what always ends up happening is that we do not get the new system we are promised. Instead we get a modified version of the old system.CIO: I can assure you that will not happen this time. My team just want a thorough understanding of what is working well and what is not.MD: I would feel much more comfortable if we first started with a list of our requirements. We should spend more time in determining what exactly we want the system to do upfront. Then your team can come in and determine what…
Listed here are four scenarios. For each scenario, discuss the potential consequences and give a prevention technique. a) A company has recently installed a new computer network. The operating philosophy adopted by the new network administrator was to establish an open system that would foster work group date to the network users. To accomplish this objective, the data administrator assigned employee access privileges to data based on department and functional affiliation rather than specific tasks. b) Sara is a system programmer who was told she would be terminated in three weeks due to poor performance and was asked to conclude all of her projects during the three-week period. Two weeks later Sara created a logic bomb designed to get activated three months after her departure. Subsequently, the bomb destroyed hundreds of records in her previous employer’s accounts receivable invoice file. c) Matt discovered a new sensitivity analysis public-domain program on the Internet. He…