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| effects of frauds in business: The Little Black Book of Scams Industry Canada, Competition Bureau Canada, 2014-03-10 The Canadian edition of The Little Black Book of Scams is a compact and easy to use reference guide filled with information Canadians can use to protect themselves against a variety of common scams. It debunks common myths about scams, provides contact information for reporting a scam to the correct authority, and offers a step-by-step guide for scam victims to reduce their losses and avoid becoming repeat victims. Consumers and businesses can consult The Little Black Book of Scams to avoid falling victim to social media and mobile phone scams, fake charities and lotteries, dating and romance scams, and many other schemes used to defraud Canadians of their money and personal information. |
| effects of frauds in business: Auditing & Assurance Services , 2015 |
| effects of frauds in business: Corruption and Fraud in Financial Markets Carol Alexander, Douglas Cumming, 2020-06-22 Identifying malpractice and misconduct should be top priority for financial risk managers today Corruption and Fraud in Financial Markets identifies potential issues surrounding all types of fraud, misconduct, price/volume manipulation and other forms of malpractice. Chapters cover detection, prevention and regulation of corruption and fraud within different financial markets. Written by experts at the forefront of finance and risk management, this book details the many practices that bring potentially devastating consequences, including insider trading, bribery, false disclosure, frontrunning, options backdating, and improper execution or broker-agency relationships. Informed but corrupt traders manipulate prices in dark pools run by investment banks, using anonymous deals to move prices in their own favour, extracting value from ordinary investors time and time again. Strategies such as wash, ladder and spoofing trades are rife, even on regulated exchanges – and in unregulated cryptocurrency exchanges one can even see these manipulative quotes happening real-time in the limit order book. More generally, financial market misconduct and fraud affects about 15 percent of publicly listed companies each year and the resulting fines can devastate an organisation's budget and initiate a tailspin from which it may never recover. This book gives you a deeper understanding of all these issues to help prevent you and your company from falling victim to unethical practices. Learn about the different types of corruption and fraud and where they may be hiding in your organisation Identify improper relationships and conflicts of interest before they become a problem Understand the regulations surrounding market misconduct, and how they affect your firm Prevent budget-breaking fines and other potentially catastrophic consequences Since the LIBOR scandal, many major banks have been fined billions of dollars for manipulation of prices, exchange rates and interest rates. Headline cases aside, misconduct and fraud is uncomfortably prevalent in a large number of financial firms; it can exist in a wide variety of forms, with practices in multiple departments, making self-governance complex. Corruption and Fraud in Financial Markets is a comprehensive guide to identifying and stopping potential problems before they reach the level of finable misconduct. |
| effects of frauds in business: Financial Statement Fraud Gerard M. Zack, 2012-11-28 Valuable guidance for staying one step ahead of financial statement fraud Financial statement fraud is one of the most costly types of fraud and can have a direct financial impact on businesses and individuals, as well as harm investor confidence in the markets. While publications exist on financial statement fraud and roles and responsibilities within companies, there is a need for a practical guide on the different schemes that are used and detection guidance for these schemes. Financial Statement Fraud: Strategies for Detection and Investigation fills that need. Describes every major and emerging type of financial statement fraud, using real-life cases to illustrate the schemes Explains the underlying accounting principles, citing both U.S. GAAP and IFRS that are violated when fraud is perpetrated Provides numerous ratios, red flags, and other techniques useful in detecting financial statement fraud schemes Accompanying website provides full-text copies of documents filed in connection with the cases that are cited as examples in the book, allowing the reader to explore details of each case further Straightforward and insightful, Financial Statement Fraud provides comprehensive coverage on the different ways financial statement fraud is perpetrated, including those that capitalize on the most recent accounting standards developments, such as fair value issues. |
| effects of frauds in business: 1998 Statement of Financial Accounting Concepts Financial Accounting Standards Board (FASB), 1998-09-07 The FASB Statements of Financial Accounting Concepts contains the full text of five of the six Statements of Financial Accounting Concepts issued to date. The existing concepts are intended to serve the public interest by setting the objectives, qualitative characteristics, and other concepts that guide selection of economic events to be recognized and measured for financial reporting. Unlike a Statement of Financial Accounting Standards, a Statement of Financial Accounting Concepts does not establish generally accepted Accounting Principles. |
| effects of frauds in business: Handbook of Research on Theory and Practice of Financial Crimes Rafay, Abdul, 2021-03-18 Black money and financial crime are emerging global phenomena. During the last few decades, corrupt financial practices were increasingly being monitored in many countries around the globe. Among a large number of problems is a lack of general awareness about all these issues among various stakeholders including researchers and practitioners. The Handbook of Research on Theory and Practice of Financial Crimes is a critical scholarly research publication that provides comprehensive research on all aspects of black money and financial crime in individual, organizational, and societal experiences. The book further examines the implications of white-collar crime and practices to enhance forensic audits on financial fraud and the effects on tax enforcement. Featuring a wide range of topics such as ethical leadership, cybercrime, and blockchain, this book is ideal for policymakers, academicians, business professionals, managers, IT specialists, researchers, and students. |
| effects of frauds in business: Financial Shenanigans Howard M. Schilit, 2002-03-22 Techniques to uncover and avoid accounting frauds and scams Inflated profits . . . Suspicious write-offs . . . Shifted expenses . . . These and other dubious financial maneuvers have taken on a contemporary twist as companies pull out the stops in seeking to satisfy Wall Street. Financial Shenanigans pulls back the curtain on the current climate of accounting fraud. It presents tools that anyone who is potentially affected by misleading business valuationsfrom investors and lenders to managers and auditorscan use to research and read financial reports, and to identify early warning signs of a company's problems. A bestseller in its first edition, Financial Shenanigans has been thoroughly updated for today's marketplace. New chapters, data, and research reveal contemporary shenanigans that have been known to fool even veteran researchers. |
| effects of frauds in business: Food Fraud Rosalee S. Hellberg, Karen Everstine, Steven A. Sklare, 2020-11-30 Food Fraud: A Global Threat With Public Health and Economic Consequences serves as a practical resource on the topic of food fraud prevention and compliance with regulatory and industry standards. It includes a brief overview of the history of food fraud, current challenges, and vulnerabilities faced by the food industry, and requirements for compliance with regulatory and industry standards on mitigating vulnerability to food fraud, with a focus on the Global Food Safety Initiative (GFSI) Benchmarking Requirements. The book also provides individual chapters dedicated to specific commodities or sectors of the food industry known to be affected by fraud, with a focus on specific vulnerabilities to fraud, the main types of fraud committed, analytical methods for detection, and strategies for mitigation. The book provides an overview of food fraud mitigation strategies applicable to the food industry and guidance on how to start the process of mitigating the vulnerability to food fraud. The intended audience for this book includes food industry members, food safety and quality assurance practitioners, food science researchers and professors, students, and members of regulatory agencies. - Presents industry and regulatory standards for mitigating vulnerability to food fraud including Global Food Safety Initiative (GFSI) Benchmarking Requirements - Provides tools and resources to comply with industry and regulatory standards, including steps for developing a food fraud vulnerability assessment and mitigation plan - Contains detailed, commodity-specific information on the major targets of food fraud, including specific vulnerabilities to fraud, analytical methods, and strategies for mitigation |
| effects of frauds in business: Faces of Fraud Martin T. Biegelman, 2013-02-07 The ultimate tool for understanding, investigating and preventing fraud Fraud is an evil with a life of its own that leaves a financial, repetitional, and emotional toll on its victims. While monumental scandals, such as Enron, WorldCom, and Madoff's Ponzi scheme make the front pages, fraud is a daily occurrence impacting companies and individuals alike. Faces of Fraud reveals must-know characteristics of fraudsters and the skills needed to outwit them. Recognized Fraud Fighting Expert Martin Biegelman draws from his 40 years of experience fighting fraud to profile not only the key traits fraudsters share, but also the qualities fraud examiners must possess to be successful. Each chapter contains stories from actual cases that the author investigated Profiles the must-know characteristics of fraudsters and the skills you'll need to outwit them Reveals the traits of accomplished fraud examiners Explores the best practices in fraud detection, investigation and prevention to cultivate in order to maximize success Written by fraud fighting expert Martin T. Biegelman Although fraud will never be completely eradicated, there is much that can be done to reduce the number and size of frauds that take place in any organization. Boiling down the key lessons the author has culled from his long career, Faces of Fraud entertains and informs with stories from real cases the author investigated over his long career, and imparts useful tips you can start using right away in the fraud examination field. |
| effects of frauds in business: Entrepreneurship, Governance and Ethics Robert Cressy, Douglas Cumming, Christine Mallin, 2012-02-08 The chapters of this book are a selection of papers presented at a joint conference on Law, Ethics and Finance was held at the York University Schulich School of Business, 16–18 September, 2010. This book highlights with empirical data the strong interplay on ethics in organisational efficiency and entrepreneurial activity, and the role of legal settings and governance in facilitating ethical standards. It is hoped these papers encourage future scholars to continue to investigate the role of law and corporate governance in mitigating corruption and facilitating integrity in management,entrepreneurship and finance. Previously published in the Journal of Business Ethics, Volume 95 Supplement 2, 2010 |
| effects of frauds in business: Principles of Accounting Volume 1 - Financial Accounting Mitchell Franklin, Patty Graybeal, Dixon Cooper, 2019-04-11 The text and images in this book are in grayscale. A hardback color version is available. Search for ISBN 9781680922929. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the why as well as the how aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization. |
| effects of frauds in business: Emerging Fraud Kiymet Tunca Caliyurt, Samuel O. Idowu, 2012-03-31 Fraud has become a challenging phenomena affecting economies worldwide. Anti-fraud measures are an integral part of today’s management practices and have found their way into business education. Yet in developing countries these topics have long been neglected and only limited research has been conducted in this area. This book fills an essential gap by analyzing the impact of fraud on developing economies, describing successful anti-fraud methods and featuring cases that exemplify the measures described. The book features contributions by outstanding experts in the field and is intended for academic readers with a special interest in fraud research. |
| effects of frauds in business: Economic and Financial Crime Monica Violeta Achim, Sorin Nicolae Borlea, 2020-08-29 This book deals with the widespread economic and financial crime issues of corruption, the shadow economy and money laundering. It investigates both the theoretical and practical aspects of these crimes, identifying their effects on economic, social and political life. This book presents these causes and effects with a state of the art review and with recent empirical research. It compares the international and transnational aspects of these economic and financial crimes through discussion and critical analysis. This volume will be of interest to researchers and policy makers working to study and prevent economic and financial crime, white collar crime, and organized crime. |
| effects of frauds in business: Handbook of Corporate Finance Bjørn Espen Eckbo, 2007-05-21 Judging by the sheer number of papers reviewed in this Handbook, the empirical analysis of firms' financing and investment decisions—empirical corporate finance—has become a dominant field in financial economics. The growing interest in everything corporate is fueled by a healthy combination of fundamental theoretical developments and recent widespread access to large transactional data bases. A less scientific—but nevertheless important—source of inspiration is a growing awareness of the important social implications of corporate behavior and governance. This Handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues, ranging from econometric methodology, to raising capital and capital structure choice, and to managerial incentives and corporate investment behavior. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work.*The Handbooks in Finance series offers a broad group of outstanding volumes in various areas of finance*Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance*The series is international in scope with contributions from field leaders the world over |
| effects of frauds in business: United States Attorneys' Manual United States. Department of Justice, 1985 |
| effects of frauds in business: Crossing the Global Quality Chasm National Academies of Sciences, Engineering, and Medicine, Health and Medicine Division, Board on Health Care Services, Board on Global Health, Committee on Improving the Quality of Health Care Globally, 2019-01-27 In 2015, building on the advances of the Millennium Development Goals, the United Nations adopted Sustainable Development Goals that include an explicit commitment to achieve universal health coverage by 2030. However, enormous gaps remain between what is achievable in human health and where global health stands today, and progress has been both incomplete and unevenly distributed. In order to meet this goal, a deliberate and comprehensive effort is needed to improve the quality of health care services globally. Crossing the Global Quality Chasm: Improving Health Care Worldwide focuses on one particular shortfall in health care affecting global populations: defects in the quality of care. This study reviews the available evidence on the quality of care worldwide and makes recommendations to improve health care quality globally while expanding access to preventive and therapeutic services, with a focus in low-resource areas. Crossing the Global Quality Chasm emphasizes the organization and delivery of safe and effective care at the patient/provider interface. This study explores issues of access to services and commodities, effectiveness, safety, efficiency, and equity. Focusing on front line service delivery that can directly impact health outcomes for individuals and populations, this book will be an essential guide for key stakeholders, governments, donors, health systems, and others involved in health care. |
| effects of frauds in business: Cyber Frauds, Scams and their Victims Mark Button, Cassandra Cross, 2017-07-14 Crime is undergoing a metamorphosis. The online technological revolution has created new opportunities for a wide variety of crimes which can be perpetrated on an industrial scale, and crimes traditionally committed in an offline environment are increasingly being transitioned to an online environment. This book takes a case study-based approach to exploring the types, perpetrators and victims of cyber frauds. Topics covered include: An in-depth breakdown of the most common types of cyber fraud and scams. The victim selection techniques and perpetration strategies of fraudsters. An exploration of the impact of fraud upon victims and best practice examples of support systems for victims. Current approaches for policing, punishing and preventing cyber frauds and scams. This book argues for a greater need to understand and respond to cyber fraud and scams in a more effective and victim-centred manner. It explores the victim-blaming discourse, before moving on to examine the structures of support in place to assist victims, noting some of the interesting initiatives from around the world and the emerging strategies to counter this problem. This book is essential reading for students and researchers engaged in cyber crime, victimology and international fraud. |
| effects of frauds in business: Executive Roadmap to Fraud Prevention and Internal Control Martin T. Biegelman, Joel T. Bartow, 2012-03-13 Now in a Second Edition, this practical book helps corporate executives and managers how to set up a comprehensive and effective fraud prevention program in any organization. Completely revised with new cases and examples, the book also discusses new global issues around the Foreign Corrupt Practices Act (FCPA). Additionally, it covers best practices for establishing a unit to protect the financial integrity of a business, among other subjects. The book has many checklists and real-world examples to aid in implementation and an instructor's URL including a test bank to aid in course adoptions. |
| effects of frauds in business: Fraud and Corruption Peter C. Kratcoski, Maximilian Edelbacher, 2018-09-14 This textbook provides an overview of the major types of fraud and corrupt activities found in private and public agencies, as well as the various methods used to prevent fraud and corruption. It explores where opportunities for fraud exist, the personal characteristics of those who engage in fraud, as well as their prevention and control. This work covers fraud in the financial sector, insurance, health care, and police organizations, as well as cybercrime. It covers the relationship between fraud, corruption, and terrorism; criminal networks; and major types of personal scams (like identity theft and phishing). Finally, it covers the prevention and control of fraud, through corporate whistle blowing, investigative reporting, forensic accounting, and educating the public. This work will be of interest to graduate-level students (as well as upper-level undergraduates) in Criminology & Criminal Justice, particularly with a focus on white collar and corporate crime, as well as related fields like business and management. |
| effects of frauds in business: Complex Ownership Structures and Corporate Valuations Luc Laeven, Ross Levine, 2007-06 The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures: 100 percent small shareholders or one large, controlling owner combined with small shareholders. In this paper, we question the empirical validity of this dichotomy. In fact, one-third of publicly listed firms in Europe have multiple large owners, and the market value of firms with multiple blockholders differs from firms with a single large owner and from widely-held firms. Moreover, the relationship between corporate valuations and the distribution of cash-flow rights across multiple large owners is consistent with the predictions of recent theoretical models. |
| effects of frauds in business: Preventing and Detecting Employee Theft and Embezzlement Stephen Pedneault, 2010-06-28 If you don't think that some employees have figured out ingenious ways to steal from businesses, read this book. The real-life examples will change your mind. Joseph T. Wells, CFE, CPA, founder and Chairman, Association of Certified Fraud Examiners An easy-to-read, but comprehensive step-by-step approach that covers every potential area for employee fraud and embezzlement. Great checklists at the end of each chapter show what steps to put into place for controls and protection. Includes real-life examples that really 'bring the story home.' Jean L. Conover, CPA, past CEO/CFO, Jefferson Radiology PC This book is a must-read for seasoned entrepreneurs as well as those considering entering their own business venture. While developed for small business, the risk detection and prevention methodologies presented by Mr. Pedneault are universal to all businesses. The concise checklists provide ready guidance for establishing a complete system of controls. Denise H. Armstrong, CPA, Chief Financial Officer, Sea Research Foundation, Inc. d/b/a Mystic Aquarium and Institute for Exploration This book is a must for every individual owning their own business. Mr. Pedneault clearly articulates the fraud risks that occur in each business system. In the book, he offers practical advice for internal controls and illustrates the risks with real-life examples. Leonard W. Vona, President, Fraud Auditing, Inc. |
| effects of frauds in business: Power Failure Mimi Swartz, Sherron Watkins, 2004-03-09 “They’re still trying to hide the weenie,” thought Sherron Watkins as she read a newspaper clipping about Enron two weeks before Christmas, 2001. . . It quoted [CFO] Jeff McMahon addressing the company’s creditors and cautioning them against a rash judgment. “Don’t assume that there is a smoking gun.” Sherron knew Enron well enough to know that the company was in extreme spin mode… Power Failure is the electrifying behind-the-scenes story of the collapse of Enron, the high-flying gas and energy company touted as the poster child of the New Economy that, in its hubris, had aspired to be “The World’s Leading Company,” and had briefly been the seventh largest corporation in America. Written by prizewinning journalist Mimi Swartz, and substantially based on the never-before-published revelations of former Enron vice-president Sherron Watkins, as well as hundreds of other interviews, Power Failure shows the human face beyond the greed, arrogance, and raw ambition that fueled the company’s meteoric rise in the late 1990s. At the dawn of the new century, Ken Lay’s and Jeff Skilling's faces graced the covers of business magazines, and Enron’s money oiled the political machinery behind George W. Bush’s election campaign. But as Wall Street analysts sang Enron’s praises, and its stock spiraled dizzyingly into the stratosphere, the company’s leaders were madly scrambling to manufacture illusory profits, hide its ballooning debt, and bully Wall Street into buying its fictional accounting and off-balance-sheet investment vehicles. The story of Enron’s fall is a morality tale writ large, performed on a stage with an unforgettable array of props and side plots, from parking lots overflowing with Boxsters and BMWs to hot-house office affairs and executive tantrums. Among the cast of characters Mimi Swartz and Sherron Watkins observe with shrewd Texas eyes and an insider’s perspective are: CEO Ken Lay, Enron’s “outside face,” who was more interested in playing diplomat and paving the road to a political career than in managing Enron’s high-testosterone, anything-goes culture; Jeff Skilling, the mastermind behind Enron’s mercenary trading culture, who transformed himself from a nerdy executive into the personification of millennial cool; Rebecca Mark, the savvy and seductive head of Enron’s international division, who was Skilling’s sole rival to take over the company; and Andy Fastow, whose childish pranks early in his career gave way to something far more destructive. Desperate to be a player in Enron’s deal-making, trader-oriented culture, Fastow transformed Enron’s finance department into a “profit center,” creating a honeycomb of financial entities to bolster Enron’s “profits,” while diverting tens of millions of dollars into his own pockets An unprecedented chronicle of Enron’s shocking collapse, Power Failure should take its place alongside the classics of previous decades – Barbarians at the Gate and Liar’s Poker – as one of the cautionary tales of our times. |
| effects of frauds in business: Contemporary Issues in Audit Management and Forensic Accounting Simon Grima, Engin Boztepe, Peter J. Baldacchino, 2020-02-10 In the 18 chapters in this volume of Contemporary Studies in Economic and Financial Analysis, expert contributors gather together to examine the extent and characteristics of forensic accounting, a field which has been practiced for many years, but is still not internationally regulated yet. |
| effects of frauds in business: Fraud Edward J. Balleisen, 2018-12-18 A comprehensive history of fraud in America, from the early nineteenth century to the subprime mortgage crisis In America, fraud has always been a key feature of business, and the national worship of entrepreneurial freedom complicates the task of distinguishing salesmanship from deceit. In this sweeping narrative, Edward Balleisen traces the history of fraud in America—and the evolving efforts to combat it—from the age of P. T. Barnum through the eras of Charles Ponzi and Bernie Madoff. This unprecedented account describes the slow, piecemeal construction of modern institutions to protect consumers and investors—from the Gilded Age through the New Deal and the Great Society. It concludes with the more recent era of deregulation, which has brought with it a spate of costly frauds, including corporate accounting scandals and the mortgage-marketing debacle. By tracing how Americans have struggled to foster a vibrant economy without encouraging a corrosive level of cheating, Fraud reminds us that American capitalism rests on an uneasy foundation of social trust. |
| effects of frauds in business: My Billion Dollar Education Toshihide Iguchi, 2014-04-29 The true untold story of a rogue trader, whose decision to right a wrong ignited a series of political maneuvering by American and Japanese officials, leading to the expulsion of a major Japanese bank from the U.S. Toshihide Iguchi, formerly an Executive VP and U.S. Government Bond trader at Daiwa Bank's New York Branch, was responsible for $1.1 billion in unauthorized trading losses accumulated over a period of 12 years beginning in 1983. At 18, Toshihide Iguchi came to the U.S. with high hopes. Graduating from college in Missouri, marrying a St. Louis girl, and landing a promising job at Daiwa Bank in New York, he was ready to embark on his American dream. Unbeknownst to him, a storm of unprecedented financial deregulation on both sides of the Pacific was about to rage... Twelve years later, he found himself in the maximum security ward of a Manhattan jail, surrounded by Arab terrorists and a Mafia boss. The author looks back on his psychological struggles and redemption, which gave him valuable insight in helping others to prevent future billion dollar trading losses, tying in more recent rogue trading cases, discussing common misconceptions of rogue trading as well as operational risks that continue to exist in financial institutions today. |
| effects of frauds in business: The Corporation David Sarokin, Jay Schulkin, 2020-04-09 This publication traces the corporate path to power and influence in the modern world, and explores whether corporations of the future will become superpowers in their own right or, like the dinosaurs, give way to superior forms. It examines how the emergence of empire-building firms in 16th century Europe gave way to the dominance of American corporations in the 19th and 20th centuries, which is now under threat as new types of corporations arise in China and elsewhere. The book offers surprising insights, such as why the explorer Sebastian Cabot incorporated while Christopher Columbus did not, how the US Constitution’s silence on corporations gave rise to America’s industrial dominance, and how a 19th century company making matches emerged as the Amazon of its day only to later lose its technological edge. It also discusses the many ways in which societies attempt to reign in corporate power, and the strategies of corporations to bypass controls. The text, furthermore, considers the startling ways in which new social movements, emerging business models and developing technologies—from bitcoin to artificial intelligence—will shape the corporations of the future. This book will introduce readers to the legal concept of a corporation, along with the economic and societal factors that gave rise to it as the primary means of conducting business in the modern world. With its broad sweep of history, current relevance, and insightful look to the future, this text will appeal to both scholarly and general audiences. |
| effects of frauds in business: Occupational Fraud and Abuse Joseph T. Wells, 1997-01-01 |
| effects of frauds in business: Standards for Internal Control in the Federal Government United States Government Accountability Office, 2019-03-24 Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers' Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government. |
| effects of frauds in business: Financial Oversight of Enron United States. Congress. Senate. Committee on Governmental Affairs, 2002 |
| effects of frauds in business: Food Fraud Prevention John W. Spink, 2019-10-18 This textbook provides both the theoretical and concrete foundations needed to fully develop, implement, and manage a Food Fraud Prevention Strategy. The scope of focus includes all types of fraud (from adulterant-substances to stolen goods to counterfeits) and all types of products (from ingredients through to finished goods at retail). There are now broad, harmonized, and thorough regulatory and standard certification requirements for the food manufacturers, suppliers, and retailers. These requirements create a need for a more focused and systematic approach to understanding the root cause, conducting vulnerability assessments, and organizing and implementing a Food Fraud Prevention Strategy. A major step in the harmonizing and sharing of best practices was the 2018 industry-wide standards and certification requirements in the Global Food Safety Initiative (GFSI) endorsed Food Safety Management Systems (e.g., BRC, FSSC, IFS, & SQF). Addressing food fraud is now NOT optional – requirements include implementing a Food Fraud Vulnerability Assessment and a Food Fraud Prevention Strategy for all types of fraud and for all products. The overall prevention strategy presented in this book begins with the basic requirements and expands through the criminology root cause analysis to the final resource-allocation decision-making based on the COSO principle of Enterprise Risk Management/ ERM. The focus on the root cause expands from detection and catching bad guys to the application of foundational criminology concepts that reduce the overall vulnerability. The concepts are integrated into a fully integrated and inter-connected management system that utilizes the Food Fraud Prevention Cycle (FFPC) that starts with a pre-filter or Food Fraud Initial Screening (FFIS). This is a comprehensive and all-encompassing textbook that takes an interdisciplinary approach to the most basic and most challenging questions of how to start, what to do, how much is enough, and how to measure success. |
| effects of frauds in business: The Smartest Guys in the Room Bethany McLean, Peter Elkind, 2013-10-31 What went wrong with American business at the end of the 20th century? Until the spring of 2001, Enron epitomized the triumph of the New Economy. Feared by rivals, worshipped by investors, Enron seemingly could do no wrong. Its profits rose every year; its stock price surged ever upward; its leaders were hailed as visionaries. Then a young Fortune writer, Bethany McLean, wrote an article posing a simple question - how, exactly, does Enron make its money? Within a year Enron was facing humiliation and bankruptcy, the largest in US history, which caused Americans to lose faith in a system that rewarded top insiders with millions of dollars, while small investors lost everything. It was revealed that Enron was a company whose business was an illusion, an illusion that Wall Street was willing to accept even though they knew what the real truth was. This book tells the extraordinary story of Enron's fall. 'The best book about the Enron debacle to date' BusinessWeek 'The authors write with power and finesse. Their prose is effortless, like a sprinter floating down the track' USA Today 'Well-reported and well-written' Warren Buffett |
| effects of frauds in business: Red Flags of Fraud Peter Nils Grabosky, Grace M. Duffield, 2001 Building on an earlier Trends and Issues paper, The Psychology of Fraud (No. 199), this paper identifies warning signals for fraud, and proposes some preventive or pre- emptive action. Four fraud types are examined: entrepreneurial fraud; client or employee fraud; direct interpersonal fraud (face-to-face); and indirect mass fraud. Examples of each of these are evident in our daily lives and there are often warning signals. Not all of these warning signals are necessarily precursors to fraud, but it should be noted that the most productive investment in fraud control is likely to involve strategies which reduce opportunity and enhance guardianship. The setting or context in which fraud may occur can be more or less conducive to offending. This paper aims to enhance our understanding of the situational elements of fraud risk, to permit the design of effective fraud control systems. |
| effects of frauds in business: Topics for Group Discussion Prof Shrikant Prasoon, 2017-09 There are no specific rules to prepare for a GD. And no one knows what the topic of GD is going to be. This book includes topics that are likely to be put by the Group Testing Officer before the candidates to gauge their personality and leadership qualities. It will be a good idea to keep yourself abreast with topics from: 1. Current Affairs - Current Affairs is something that you have to be thorough with. Understand the recent crises affecting the world, latest developmental initiatives, and important national & global events. 2. Historical topics- Have a fair knowledge about the history of India and the world. Having historical information will help you cite examples and make references whenever needed. 3. Sports, Arts & Literature - In these topics, try to have a decent idea about what is popular, who are the leaders in each area, the latest that has happened in these areas. 4. Data crunching - Do familiarize yourself with important data. Throwing in some data if required in your GD will definitely create an impression among the assessors. Speak with a measure of confidence on the given topic; and secure the nod of the evaluator. |
| effects of frauds in business: Crime Against Small Business United States. Small Business Administration, 1969 |
| effects of frauds in business: Health Care Fraud and Abuse Aspen Health Law Center, 1998 Stepped-up efforts to ferret out health care fraud have put every provider on the alert. The HHS, DOJ, state Medicaid Fraud Control Units, even the FBI is on the case -- and providers are in the hot seat! in this timely volume, you'll learn about the types of provider activities that fall under federal fraud and abuse prohibitions as defined in the Medicaid statute and Stark legislation. And you'll discover what goes into an effective corporate compliance program. With a growing number of restrictions, it's critical to know how you can and cannot conduct business and structure your relationships -- and what the consequences will be if you don't comply. |
| effects of frauds in business: Business Ethics and Environmental Fraud Mauro Fracarolli Nunes, Camila Lee Park, 2021-06-04 As environmental legislation grows more stringent in response to the escalating climate crisis, some of the world’s largest corporations have adopted fraudulent mechanisms to keep their margins of profit, and achieve improper competitive advantage. Such mechanisms can lead to problems in the supply chain, a decrease in market value, diminished trust in brands, increased surveillance of companies, as well as damage to the environment. This book offers a holistic view of the nature and consequences of environmental fraud, bringing together practical examples, empirical research data, and management theory. It will be of interest to academics working in the fields of sustainability management, business ethics, and corporate social and environmental responsibility. |
| effects of frauds in business: Honesty in the Workplace Kevin R. Murphy, 1993 This supplement text deals with the difficult issues of how to measure honesty in the workplace and why it should be monitored. The author has pulled together the thoughts of researchers, consultants, educators and managers on the many facets of employee honesty and presents an overview of the field. |
| effects of frauds in business: 2012 National Health Survey , 2014 |
| effects of frauds in business: The Emotional Impact of Being Scammed and How to Recover Cathy Wilson LPC ACS, 2021-05-31 Realizing you have been scammed is devastated. You experience many of the same effects as other crime victims, but the shame associated with fraud and scams creates isolation, a desire for secrecy, and a deeply felt trauma that is very difficult to overcome. In this book, we provide you with a way out of the despair you may be feeling. You'll understand more about how scammers are so successful, and you'll find ways to heal from what has happened. Whether you are the person who was scammed, or a friend or family member trying to help, the information here will help. |
| effects of frauds in business: Strategic and Pragmatic E-Business: Implications for Future Business Practices Mohammed Rezaul, Karim, 2012-05-31 In emerging and global economies, e-commerce and e-business have become increasingly necessary components of business strategy and strong catalysts for economic development. Strategic and Pragmatic E-Business: Implications for Future Business Practices disseminates information on the new practices and techniques in e-business and promotes a better understanding of contemporary issues and solutions to existing and emerging challenges. Making prospective audiences aware of concurrent business needs, models, trends, methods, and techniques, this books targets: e-commerce vendors, business managers, entrepreneurs, software industries, the digital media world, and online merchants who wish to build strong consumer brands. |
Affect vs. Effect: How to Pick the Right One | Merriam-Webster
Affect and effect are two of the most commonly confused words in English, but don’t worry—we’ll help you keep them straight. The basic difference is this: affect is usually a verb, and effect is …
EFFECT | English meaning - Cambridge Dictionary
Affect is a verb meaning ‘influence or cause someone or something to change’: … [ C ] The medicine had the effect of making me sleepy. [ C ] Cold water slows hurricane growth, but …
Affect vs. Effect: Use The Right Word Every Time | Dictionary.com
Jul 18, 2022 · Effect is most commonly used as a noun meaning “a result or consequence,” as in cause and effect. But effect can also be used as a verb meaning to make happen, most …
Effect Definition & Meaning | Britannica Dictionary
If something has an effect on something or someone, it changes or influences that thing or person in some way. The new regulations may have an effect on small businesses. It could have …
effect noun - Definition, pictures, pronunciation and usage ...
Definition of effect noun from the Oxford Advanced Learner's Dictionary. [countable, uncountable] a change that somebody/something causes in somebody/something else; a result. What are …
Effect: Definition, Meaning, and Examples - usdictionary.com
1 day ago · Special effects: Visual or audio illusions created for entertainment, especially in film or theater. 2. Effectual: Adequate to produce the desired result. 3. Aftereffect: A secondary or …
Effect - Definition, Meaning & Synonyms | Vocabulary.com
Effect is the result of an action, as in those “cause and effect ” papers you might write in English class. Your topic could be how your late-night tuba playing (cause) has driven your roommate …
Affect vs. Effect: How to Pick the Right One | Merriam-Webster
Affect and effect are two of the most commonly confused words in English, but don’t worry—we’ll help you keep them straight. The basic difference is this: affect is usually a verb, and effect is …
EFFECT | English meaning - Cambridge Dictionary
Affect is a verb meaning ‘influence or cause someone or something to change’: … [ C ] The medicine had the effect of making me sleepy. [ C ] Cold water slows hurricane growth, but …
Affect vs. Effect: Use The Right Word Every Time | Dictionary.com
Jul 18, 2022 · Effect is most commonly used as a noun meaning “a result or consequence,” as in cause and effect. But effect can also be used as a verb meaning to make happen, most …
Effect Definition & Meaning | Britannica Dictionary
If something has an effect on something or someone, it changes or influences that thing or person in some way. The new regulations may have an effect on small businesses. It could have …
effect noun - Definition, pictures, pronunciation and usage ...
Definition of effect noun from the Oxford Advanced Learner's Dictionary. [countable, uncountable] a change that somebody/something causes in somebody/something else; a result. What are …
Effect: Definition, Meaning, and Examples - usdictionary.com
1 day ago · Special effects: Visual or audio illusions created for entertainment, especially in film or theater. 2. Effectual: Adequate to produce the desired result. 3. Aftereffect: A secondary or …
Effect - Definition, Meaning & Synonyms | Vocabulary.com
Effect is the result of an action, as in those “cause and effect ” papers you might write in English class. Your topic could be how your late-night tuba playing (cause) has driven your roommate …
