Able, a Certified Fraud Examiner, interviewed a suspect involved in an environmental crime. The suspect, Blake, admitted to purposely polluting the environment. Blake’s action eventually caused almost thirty people to develop serious environmentally related illness. Upon hearing this fact from Blake, Able should:

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.6: Le-nature’s Inc.

Problem 7Q

See similar textbooks

Related questions

Q: John Doe, a fraud examiner, has been hired by ABC Corporation to investigate a shortage of cash,…

A: Introduction: Documents, according to John and most other fraud investigators, are preferable to…

Q: The Australian Institute of Criminology (AIC) asserts that three factors can explain fraud. Which of…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: 7. More on ratio analysis Analysts and investors often use return on equity (ROE) to compare…

A: We shall answer the first question since the exact question wasn't specified. Please resubmit a new…

Q: After the Madoff case, the SEC instituted a number of reforms to its operations. Please visit the…

A: Given requirement is: After the Madoff case, the SEC instituted a number of reforms to its…

Q: During the interview of a suspect in an embezzlement case, several common themes are developed that…

A: Auditors are trained to extract numbers from individuals, but forensic auditors are trained to do…

Q: Jack is a policeman tasked to arrest a group of drug pushers. The drug pushers see Jack approach and…

A: Justifying Circumstances Justifying Circumstances which was described as the activities of the…

Q: The ethical reflection assignment required you to watch three videos about Barry Minkow. Which of…

A: Barry Minkow In general way Barry Minkow was a business man who committed severe fraud into their…

Q: 12 o’clock, when the plant whistle sounded, George Jones, an assistant auditor, had been working on…

A: The criticism by the auditor-in-charge was properly based on the fact Step-by-Step explanation: The…

Q: Which of the following items is not true about fraud?a. It can cause injury or damage to another…

A: Fraud is an intentional mis-representation of facts with the view to have unfair advantage for self…

Q: Ahmed is an engineer and he approves private projects in the Government. One project was submitted…

A: Professional ethics is followed by a professional to check the legality, financial viability, and…

Q: Mr. George faced an ethical dilemma when his manager ordered him to send the customers data to…

A: When some one is working in company under boss , then he has to follow his command , otherwise he…

Q: Omar, the manager of KM Company, finds his younger brother Ali, hanging out with his friends instead…

A: Correct answer is option (a), This is a personal ethical dilemma and if Omar decides to inform his…

Q: Jake hired Sam to work as a janitor in Jake's apartment building, a position where Jake had a high…

A: Respondeat Superior seems to be a common-law doctrine that holds an employer accountable for an…

Q: Many authorities believe that the employer does not prosecute 90 percent of all computer fraud acts.…

Q: A situation where a respected individual’s reputation was tarnished by personal decisions is the…

A: As per the Uniform Code of Military Justice (UCMJ), DP should not involve in such extramarital…

Q: A procurement agent for a large metropolitan building authority threatens to blacklist a building…

Q: Bu Co. is being sued for illness caused to local residents as a result of negligence on the…

A: Answer: a. a loss contingency of P 4,800,000 and disclose an additional contingency of up to P…

Q: Identify and explain the type of fraud that has taken place. What must have motivated the employee…

A: In the given question, the employee worked in the electrical engineering firm who was being…

Q: CPA Ellen Stout performs the audit of the local symphony society. Because of her good work, she was…

A: An auditor should perform his duties with great skill care and caution.

Q: Determine which moral standard of social responsibility the business is observing. Brad's company…

A: Following is the answer to the given question

Q: Do you think it would be ethical for a CPA to have someone else do for her that which she is…

Q: Identify and discuss at least four ethical implications of those acts by Gilbert that were in…

A: Discussion of Ethical implications of those acts by Gilbert that were in violation are as follows

Q: Other Responsibilities and Practices Cases. Read the following cases. For each, statewhether the…

A: a) In this case, R has completed the reviewing the Financial Statements of W. According to Rule 501,…

Q: Mr. Asim is an Accounts Officer in Atlas Industries LLC which is a popular Bicycle manufacturing…

A: If the accountant is influenced by the company or its managers to the extent that they are unable to…

Q: Robert is shopping in the local supermarket and is injured when he slips on the wet floor which has…

A: Law of tort of negligence states that no individual should suffer because of negligent mistakes of…

Q: procurement agent for a large metropolitan building authority threatens to blacklist a building…

A: Given: If the contractor does not cooperate, he or she will be barred from working on future…

Q: A fertilizer manufacturing company wants to relocate to Lakeside County. A report from a fired…

A: Professional Ethics Professional ethics means holding moral principles that guide in carrying out…

Q: While conducting a fraud examination, Black, a Certified Fraud Examiner, obtained a document in…

A: The chain of custody is a tracking record that tracks the movement of the evidence from the…

Q: Black is a Certified Fraud Examiner for the ABC Company. Green, an employee in the accounting…

A: There are different ways of charging the employees for doing crimes as per crime done if they are…

Q: ou are a newly hired fraud examiner. You have been asked to write a preliminary report on the…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: When Nancy's aunt left for her annual holiday vacation, she left Nancy in charge of her coffee shop.…

A: Authority is referred to the power that an individual possess to make decisions, give orders or have…

Q: solar panels from more than 240 Walmart locations where they have been installed, and to pay damages…

A: New battle lines are being drawn in the contentious battle over waste reform in New York City. Since…

Q: which fraud is it and controls can be implemented to prevent or detect the fraud

A: Ethics: Ethics can be defined as a conduct adopted by an individual in making the selection between…

Q: For which of the following can a CPA be considered in violation of the Code of Professional Ethics?…

A: CPA professionals are expected to comply with the ethical standards as laid down by the CPA…

Q: 12) Yakov is an executive of Fit Corp., a chain of fitness clubs. For years, he successfully illegal…

A: Any illegal or misleading accounting practices should not be followed and if followed , it will be…

Q: Ms. Sarah is an auditor without any staff, and since then she is doing her works without planning.…

A: 1) While doing her audit she should make sure that she completes one audit before starting her…

Q: Ahmed is an engineer and he approves private projects in the Government. One project was submitted…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: rtage Inc. agrees to pick up two truckloads of housewares for Discount Corporation and store the…

A: The right answer is c cartage was negligent.

Q: What controls can be implemented to prevent or detect the fraud?

A: Ethics: Ethics can be defined as a conduct adopted by an individual in making the selection between…

Q: Sarah, a friend of yours, recently started her own business, The Bike and Boulder Company (B&B). B&B…

A: It is important for the business entity to implement the policies and procedures which are helpful…

Q: Green, a police officer, suspected that Brown was engaged in illegal racketeering activities. To…

A: GIVEN FACTS ÷ Green, a police officer, suspected that Brown was engaged in illegal racketeering…

Q: Swifty Corporation is being sued for illness caused to local residents as a result of negligence on…

A: A liability that depends on the happening or non-happening of a future event is contingent…

Q: Design an specific doable audit program for her clients to make them satisfied.

A: Given case is: Ms. Sarah is an auditor without any staff, and since then she is doing her works…

Concept explainers

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.

Question

Able, a Certified Fraud Examiner, interviewed a suspect involved in an environmental crime. The suspect, Blake, admitted to purposely polluting the environment. Blake’s action eventually caused almost thirty people to develop serious environmentally related illness. Upon hearing this fact from Blake, Able should: A. Scold Blake for his conduct. B. Make no comment whatever. C. Treat Blake with decency and respect. D. Ask Blake to apologize to the victims.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Accounting for Current liabilities, Provisions and Contingencies

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

During an internal investigation, Black, a Certified Fraud Examiner, interviewed Green, a fraud suspect. Although Green wanted to leave in the middle of the interview, Black blocked the exit and prevented him from leaving. Green subsequently confessed to committing fraud. If, under these facts, Green files a lawsuit for false imprisonment against Black, Black will likely: A. Win the case because the qualified business privilege protects investigators conducting internal investigations. B. Win the case because Green confessed to the fraud. C. Lose the case if a trier of fact concludes that he restrained Green without consent or legal justification. D. Lose the cans because Green did not leave the interview.
Murray reported to the Environmental Protection Agency that his employer was illegally dumping chemicals into a river. His charges were true, and Murray's employer was fined. In retaliation, Murray's employer fired him and made deliberate efforts to prevent Murray from obtaining other employment. Murray sued the employer, claiming that his reputation had been damaged. Murray won his lawsuit and received an award for "damages to his personal and professional reputa- tion and for his mental suffering." Now he would like to know whether the award is taxable. He argues that he was awarded damages as a recovery of his human capital and that a recovery of capital is not income. Is Murray's logic comrect?
Hunn injured herself when she slipped and fell on a loose plank while walking down some steps. The night before, while entering the hotel, she had noticed that the steps were dangerous, and although she knew from her earlier stays at the hotel that another exit was available, she chose that morning to leave via the dangerous steps. The hotel was aware of the hazard, as one of the other guests who had fallen that night had reported his accident to the desk clerk then on duty. Still, the hotel did not place cautionary signs on the steps to warn of the danger, and they were not roped off or otherwise excluded from use. Hunn brought an action against the hotel for injuries she sustained as a result of her fall. Should she recover? Explain.
Which of the following MOST likely indicates a clear violation of an NFPO’s code of conduct? John Adams, a volunteer for the local pet shelter, also owns a pet store and has offered a discount on pet food to the local shelter. Cecilia Lam used inappropriate language on her Facebook page when referring to the NFPO for which she worked. Mark Adams, an employee for a legal society, used the organization’s computer to research a new job. Hanpreet Kaur, the accountant for a sports rehabilitation society, offered the society’s services to his sister free of charge without her needing to qualify.
Please describe a time when you were faced with a personal dilemma regarding whether to blow the whistle on a wrongdoing. Some examples of a wrongdoing are witnessing cheating on an exam, witnessing someone trying to steal, noticing someone trying to take advantage of another, and completing a project at work without recording time spent in order to meet time constraints. Who were the stakeholders in the situation and how were they impacted by the wrongdoing? How did rationalization encourage the wrongdoer to follow through with their wrongdoing? What did you do and why?
Please describe a time when you were faced with a personal dilemma regarding whether to blow the whistle on a wrongdoing. Some examples of a wrongdoing are witnessing cheating on an exam, witnessing someone trying to steal, noticing someone trying to take advantage of another, and completing a project at work without recording time spent in order to meet time constraints. Who were the stakeholders in the situation and how were they impacted by the wrongdoing? How did rationalization encourage the wrongdoer to follow through with their wrongdoing? What did you do and why? Case scenario: for someone working but not clocking in How would this fit under this dilemma? Please explain:
Green, a police officer, suspected that Brown was engaged in illegal racketeering activities. To obtain evidence of Brown’s illegal conduct, Green place a bug in Brown’s home without a warrant. Green may have violated which of Brown’s constitutional rights? A. Fourteenth Amendments rights. B. Fifth Amendments rights. C. Sixth Amendments rights. D. Fourth Amendments rights.
A situation where a respected individual’s reputation was tarnished by personal decisions is the resignation of David Petraeus, former U.S. military general and head of the Central Intelligence Agency (CIA). On November 9, 2012, Petraeus resigned from the CIA after it was announced he had an extramarital affair with a biographer, Paula Broadwell, who wrote a glowing book about his life. Petraeus acknowledged that he exercised poor judgment by engaging in the affair. When Federal Bureau of Investigation (FBI) agents investigated the matter because of concerns there may have been security leaks, they discovered a substantial number of classified documents on her computer. Broadwell told investigators that she ended up with the secret military documents after taking them from a government building. No security leaks had been found. In accepting Petraeus’s resignation, President Obama praised Petraeus’s leadership during the Iraq and Afghanistan wars and said: “By any measure, through his…