Fraud Essays

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  • Fraud And Fraud

    1358 Words  | 6 Pages

    INTRODUCTION Fraud is a criminal act which involves deception to gain an unfair advantage more often financially Bolton and Hand (2002:235).In this essay, fraud is discussed in relation to the critical paradigm which Schichor (1980:14) believes is an over-simplification criminal behaviour as it is based on the econo-political factor. Apart from fraud discussion, an analysis of possible fraud acts offenders as well as the limitations of the critical paradigm is included in this essay. Typologies

  • Accounting Fraud And The Financial Fraud

    1761 Words  | 8 Pages

    those investing in the company that Ebbers wasn’t the best choice to run the 2nd biggest telecom company in America. WorldCom was just one of many accounting frauds that took place in the early 2000’s. But unfortunately that trend of dishonest accounting didn’t stop. The reason behind writing this report is to examine the $11 billion accounting fraud the biggest in US history, the collusion between Ebbers and the CFO Scott Sullivan to deceive investors, causing the loss of thousands of jobs and costing

  • Why Fraud Is Fraud

    950 Words  | 4 Pages

    Fraud is defined as misinformation by a person of a material fact, known by that person to be improper or made with negligent indifference to whether the fact is true, with the intention of deceiving the other party and with the result that the other party is injured. Constructive fraud differs from fraud as defined above in that constructive fraud does not involve a misrepresentation with intent to deceive, gross negligence on the part of an another injured party. The fraud has two different kinds

  • Corporate Fraud Is A Big Part Of The Fraud

    1967 Words  | 8 Pages

    all forms of fraud. There are a vast amount of fraud types out in the world today that some of us may not have even realized yet. With the immense amount of fraud that is occurring, how could so many people get away with committing it? The answer is there is too much fraud occurring for anyone to look into the smaller fraudulent acts. There are specifically two types of frauds that occur that focus a lot on the business aspect, Corporate and small business fraud. Small business fraud tends to appear

  • Kmart Fraud

    330 Words  | 2 Pages

    The Kmart fraud was the result of improper recognition of vendor allowances and improperly and fraudulently recognized customer rebates. Kmart's historical accounting policy for vendor rebates did not comply with GAAP and the financial statements misrepresented and misled investors about the Company and its accounting. In order to meet senior management's earnings expectations, Kmart began obtaining allowances from their vendors for various reasons including marketing and promotional reasons. The

  • Financial Statement Fraud And Corporate Financial Fraud

    1310 Words  | 6 Pages

    Financial Statement Fraud Background Financial statement fraud is one of the biggest types of fraud in today’s business world. The complexity and mechanism of financial statement fraud brought the attention of auditors and regulators. Financial scandals of Enron, WorldCom, Xerox, Tyco, Parmalat, Qwest, and Satam Computers increased the auditors’ responsibility in detecting and preventing fraudulent transactions. Corporate financial fraud had negative consequences for the market capitalization due

  • Fraud: Early Warning Signs of Fraud Essay

    2710 Words  | 11 Pages

    A Ponzi scheme is a type of fraud called investment fraud. It, “involves the payment of purported returns to existing investors from funds contributed by new investors” (6). Investors are usually promised a high return rate. The fraudsters attract new investors and pay back their old investors with the new investor’s money. Ponzi schemes are named after Charles Ponzi who created scheme by getting residents to invest in a postage stamp scheme. Bernie Madoff is a well known and not well liked Ponzi

  • Disability Fraud

    794 Words  | 4 Pages

    25.7% of Nebraskan veterans reported a VA service-connected disability in 2013. Our article was about Veterans Affairs (VA) and disability fraud. We have summarized our article, connected it to something in our textbook, and discussed a related article. We have also given our opinions on the significance, the impact on the company, and the lessons learned. This article starts by a veteran explaining his call to the VA. When he asked what he could expect at his appointment, a VA employee told

  • Fraud Prevention

    1609 Words  | 7 Pages

    consideration for the controls, including independent checks, and a system for the documents and records. It will go into talking about a fraud hotline program to help detect fraud and also preventing fraud. Fraud Prevention Management is aware of the increased requirements for a public company to maintain a system of internal control to help prevent and detect fraud. The CEO, Mary Moore, is also interested in using a proactive posture toward

  • The Auditor and Fraud

    1175 Words  | 5 Pages

    PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways, for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct, monitoring compliance and taking action against breaches * Emphasising a strong commitment to fraud prevention. This involves