Corporate Fraud Essays (Examples)
Study Document
Net Worth Theory And Corporate Fraud
… a trillion dollars flowed is a prime example of a situation in which the net worth method could be applied to investigate this corporate fraud.
As Schwab (1961) states, the net worth theory rests upon the idea that if one’s net increase exceeds the income reported, the corporation ……
References
References
IRS. (2017). Retrieved from https://www.irs.gov/irm/part9/irm_09-005-009
Madlinger, J. (2006). Money laundering: A guide for criminal investigators. CRC Press.
Milne, R. & Winter, D. (2018). Danske: anatomy of a money laundering scandal. Retrieved from https://www.ft.com/content/519ad6ae-bcd8-11e8-94b2-17176fbf93f5
Schwab, R. D. (1961). The Civil Aspects of the Net Worth Method. Wm. & Mary L. Rev., 3, 65.
Study Document
Volkswagen Emissions Fraud
… role – and had been one of its driving forces during implementation. Further, he continued the practice, and was eventually brought up on fraud charges in the US as a result (Smith, 2018).
The first bias was likely the decision between duty – duty to shareholders to … moral hazard in hiring Winterkorn to the top job (Cook, 2008). Therefore, the company had the opportunity to reduce the risk of such fraud by removing much of the moral hazard concerned with equity-based compensation and the misalignment of corporate goals and executive goals. This is done at the level of executive compensation structure, because once the moral hazard itself is created, the … much higher. This is why in the Untied States, the Sarbanes-Oxley Act build into its structure prison terms for senior executives engaged in fraud, as a means of balancing out the moral hazard associated with equity-based compensation.……
References
References
Ganti, A. (2019) Rationcal choice theory. Investopedia. Retrieved January 18, 2020 from https://www.investopedia.com/terms/r/rational-choice-theory.asp
Palmiter, A. (no date). Corporate governance as moral psychology. In possession of the author.
Parloff, R. (2018) How VW paid $25 billion for dieselgate – and got off easy. Business Ethics. Retrieved January 18, 2020 from https://business-ethics.com/2018/02/08/1638-how-vw-paid-25-billion-for-dieselgate-and-got-off-easy/
Smith, A. (2018) Volkswagen ex-CEO charged with fraud in diesel emissions scandal. CNN. Retrieved January 18, 2020 from https://money.cnn.com/2018/05/03/news/companies/winterkorn-vw-diesel-scandal/index.html
Study Document
Enron Corporate Scandal And Microeconomics
Microeconomics
Enron Corporation is an example of one of the largest corporate scandals in the history of the United States. Given a series of corporate mismanagement, Enron is regarded as a shocking example of corporate corruption in the modern business world. The company took 16 years to increase its assets from 10 billion to 65 billion, which was … took 16 years to increase its assets from 10 billion to 65 billion, which was significantly reduced in 24 days (Gibney, 00:00:38-00:00:47). Enron’s corporate scandal has been the subject of numerous studies within the business sector as it offers significant lessons on economics and corporate management. Alex Gibney’s film Enron: The Smartest Guys in the Room provides insights on various topics that are relevant to microeconomics in relation … Gibney’s film Enron: The Smartest Guys in the Room provides insights on various topics that are relevant to microeconomics in relation to……
References
Works Cited
Amadeo, Kimberly. “Deregulation Pros, Cons, and Examples.” The Balance, The Balance, 16 Jan. 2020, https://www.thebalance.com/deregulation-definition-pros-cons-examples-3305921
Gibney, Alex, director. Enron: The Smartest Guys In the Room. YouTube, Magnolia Pictures, 20 Oct. 2009, https://www.youtube.com/watch?v=BIwFO4_SWQQ&has_verified=1
Kienitz, Paul M. “ENRON: THE SMARTEST GUYS IN THE ROOM (2005).” Paulkienitz.net, Paulkienitz.net, https://paulkienitz.net/enron/smartest-guys.html
Study Document
White Collar Crimes
… Madoff with people’s pension funds or 401(k)s, etc. (Schultz & Greenberg, 2009). White collar criminals tend to commit crime in finance—such as embezzlement—or corporate fraud, such as cooking the books like what they did at Enron (Eichenwald, 2005). Sutherland helped to show how white collar crime consists of ……
References
References
Eichenwald, K. (2005). Conspiracy of Fools. NY: Random House.
Rosoff, S., Pontell, H. & Tillman, R. (2003). Looting America. NY: Prentice Hall.
Schultz, K. & Greenbert, D. (2009). Bernie Madoff’s Billionaire Victims. Forbes. Retrieved from http://www.forbes.com/2009/03/12/madoff-guilty-plea-business-wall-street-celebrity-victims.html
Study Document
Shareholder Vs Stakeholder Theory
… stakeholder theory needs to be pursued instead of shareholder theory, and it will explain why starting with Friedman’s own words.
Without Deception or fraud
Friedman believed that if a corporation is doing right by shareholders, the rest will take care of itself. The problem is that times … will take care of itself. The problem is that times have changed since Friedman made that statement. When Friedman argued for shareholder theory, corporate share buybacks were still illegal. It was not until 1982 that the rule regarding public companies buying back their own shares on the … by the Securities and Exchange Commission (SEC) (Reda, 2018). That is significant because Friedman qualified his statement with the words “without deception or fraud.” The reason corporate share buybacks were illegal prior to 1982 was precisely because it was viewed as a form of market manipulation—corporations propping up the share … rake in……
References
References
Augustine. (n.d.). Commentaries on Sermon on the Mount. http://www.newadvent.org/fathers/16011.htm
Chen, J. (2019). Market Milestones as the Bull Market Turns 10. Retrieved from https://www.investopedia.com/market-milestones-as-the-bull-market-turns-10-4588903
Egan, M. (2018). Tax cut triggers $437 billion explosion of stock buybacks. Retrieved from https://money.cnn.com/2018/07/10/investing/stock-buybacks-record-tax-cuts/index.html
Henrich, S. (2019). Unholy alliance. Retrieved from https://northmantrader.com/2019/11/30/unholy-alliance/
Laux, C., & Leuz, C. (2010). Did fair-value accounting contribute to the financial crisis?. Journal of economic perspectives, 24(1), 93-118.
Light, L. (2019). More than Half of All Stock Buybacks are Now Financed by Debt. Here’s Why That’s a Problem. Retrieved from https://fortune.com/2019/08/20/stock-buybacks-debt-financed/
Mullen, C. (2019). People want to buy \\\\\\'local\\\\\\' food, but they\\\\\\'re not sure what it means. Retrieved from https://www.bizjournals.com/bizwomen/news/latest-news/2019/05/people-want-to-buy-local-food-but-theyre-not-sure.html?page=all
Putka, G. (2019). Insiders are selling. Retrieved from https://www.washingtonpost.com/business/economy/company-insiders-are-selling-stock-during-buyback-programs-and-making-additional-profits-when-stock-prices-jump-and-its-legal/2019/11/06/fc592f58-e493-11e9-a331-2df12d56a80b_story.html
Study Document
Cyber Crime IT Security Auditing
Abstract
Cybercrime, data breaches, and fraud represent evils that significantly threaten businesses. Companies have, in the past, lost much to these crimes and, hence, must come up with plans … IT security will be dealt with. According to research on the subject, IT security auditing constitutes a significant step in the safeguarding of corporate data against cybercrime, data breaches, and fraud. It must be performed from time to time in the form of a methodical analysis by an outside specialist on compliance, for identifying … implementation of suitable security measures for averting such breaches and reducing their adverse impacts.
Security risks
Two classes of risks exist, against which corporate information systems require protection: logical and physical. The latter, more to do with devices as compared to the actual information system, encompasses natural … following major kinds of information technology risks: availability, security, compliance, and performance risks. Security risks constitute accessing……
References
References
Almatari, O. and Helal, I., and Mazen, S., and El Hennawy, S. (2018). \\\\\\"Cybersecurity Tools for IS Auditing.\\\\\\" The 6th International Conference on Enterprise Systems, At Limassol, Cyprus 10.1109/ES.2018.00040.
Davis, W. S., & Yen, D. C. (Eds.). (2019). The information system consultant\\\\\\'s handbook: Systems analysis and design. CRC press.
Diamantopoulou, V., Tsohou, A., & Karyda, M. (2019). From ISO/IEC 27002: 2013 Information Security Controls to Personal Data Protection Controls: Guidelines for GDPR Compliance. In Computer Security (pp. 238-257). Springer, Cham.
Khan, M. (2017). Computer security in the human life. International Journal of Computer Science and Engineering (IJCSE), 6(1), 35-42.
Lenghel, R. D., & Vlad, M. P. (2017). INFORMATION SYSTEMS AUDITING. Quaestus, (11), 178.
Manaseer, S., & Alawneh, A. (2019). ON CYBERSECURITY AUDITING AWARENESS: CASE OF INFORMATION AND COMMUNICATION TECHNOLOGY SECTOR. International Journal of Computer Science and Information Security (IJCSIS), 17(7).
Suduc, A. M., Bîzoi, M., & Filip, F. G. (2010). Audit for information systems security. Informatica Economica, 14(1), 43.
Study Document
Enterprise Risk Management In Wells Fargo During The Pandemic
… and ERM; 5) a discussion of risk in terms of current and potential profit opportunities; 6) two specific ways in which auditors can corporate ERM into the company’s audits; 7) a discussion of the role of financial derivatives as both risk management and a speculative tool; and … stand to improve. It lacks a proper assessment of reputation risk and fiduciary risk as it continues to face scandals like the 2016 fraud scandal and the current exploitative use of……
References
References
Beasley, M. (2020). How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks. ERM Professional Insights.
Derysh, I. (2020). Watchdog questions why Wells Fargo reported giving only one large PPP loan to a Black-owned business. Retrieved from https://www.salon.com/2020/07/22/watchdog-questions-why-wells-fargo-reported-giving-only-one-large-ppp-loan-to-a-black-owned-business/
English, C. (2020). Wells Fargo Forced to Cut Its Dividend After Fed Stress Test. Here’s What Other Banks Did. Retrieved from https://www.barrons.com/articles/wells-fargo-forced-to-cut-its-dividend-after-fed-stress-test-51593467664
Hall, J. (2007). Internal Auditing and ERM: Fitting in and Adding Value. Retrieved from https://global.theiia.org/about/about-the-iia/Public Documents/Sawyer_Award_2007.pdf
Kaplan, R. & Mikes, A. (2012). Managing risks: A new framework. Harvard Business Review, 3.
Lewis, M. (2010). The Big Short. NY: W. W. Norton.
Lundqvist, S. (2014). Abandoning Silos for Integration: Implementing Enterprise Risk Management and Risk Governance. Lund University.
Morgenson, G. (2020). More Wells Fargo customers say the bank decided to pause their mortgage payments without asking. Retrieved from https://www.nbcnews.com/business/personal-finance/more-wells-fargo-customers-say-bank-decided-pause-their-mortgage-n1234610
Study Document
What Is Cybercrime And How To Deter It
… in the early days focused on exploiting punch cards and machines, but gradually as the technology developed cybercrime began to focus on committing fraud in a variety of forms, identity theft, and hacking (Schjølberg, 2017). Today, cybercriminals can take control of radar systems, hijack ships, and steal … takes the form of enterprise crime, in which illegal activities are united under a legitimate business front, allowing the crime to have a corporate status even though it is engaged in criminal activity. Rather than trying to get around regulations and rules, the criminal embraces them and … appear as though the crime was conducted by another person or country.
State, Federal and International Laws Related to Cybercrime
The federal Computer fraud and Abuse Act is the main law that allows for the prosecution of cybercrime. It prohibits unauthorized access to a computer or security ……
References
References
Computer Hope. (2019). When was the first computer invented? Retrieved from https://www.computerhope.com/issues/ch000984.htm
Crane, C. (2019). 33 alarming cybercrime statistics you should know in 2019. Retrieved from https://www.thesslstore.com/blog/33-alarming-cybercrime-statistics-you-should-know/
Schjølberg, Stein. (2017). The History of Cybercrime (1976-2016). Books on Demand.
Statista. (2020). Global digital population. Retrieved from https://www.statista.com/statistics/617136/digital-population-worldwide/
Taylor, R. W., Fritsch, E. J., Liederbach, J., Saylor, M. R., & Tafoya, W. L. (2019). Cyber crime and cyber terrorism. NY, NY: Pearson.
Study Document
How To Conduct A Policy Analysis
...Corporate fraud Policy Analysis
Abstract
This paper focuses on a bill currently going through Congress that would restrict the right of Americans to voice their support for the oppressed and marginalized Palestinian people by joining in the BDS Movement. This paper discusses why this issue is important to social welfare policy and shows that the bill would deny people the right to advocate by using social, political and economic means. The opposition towards the Israeli settlement practices in Palestine has already been condemned by the UN, but the U.S. Congress is now seeking not only to condemn the UN for its 2016 resolution against Israel, but it is also seeking to condemn any American person engaged in interstate commerce who chooses to support the UN resolution by boycotting Israeli products. This bill therefore would marginalize and socially, politically and economically exclude Americans in a dangerous way. This policy analysis paper also shows……
References
References
Beinin, J. (2004). The new American McCarthyism: policing thought about the Middle East. Race & Class, 46(1), 101-115.
Corrigan, E. C. (2009). Is Anti?Zionism Anti?Semitic? Jewish Critics Speak. Middle East Policy, 16(4), 146-159.
Fischel, J. R. (2005). The new anti-Semitism. The Virginia Quarterly Review, 81(3), 225.
Greenwald, G. (2019). The House Democrats’ “Rebuke” of Rep. Ilhan Omar Is a Fraud for Many Reasons, Including Its Wild Distortion of Her Comments. Retrieved from https://theintercept.com/2019/03/05/the-house-democrats-rebuke-of-rep-ilhan-omar-is-a-fraud-for-many-reasons-including-its-wild-distortion-of-her-comments/
Gutiérrez, A. M. L., & Campos, M. V. (2015). Subjective and Objective Aspects of Points of View. In Temporal Points of View (pp. 59-104). Springer, Cham.
H.R. 1697. (2018). Israel Anti-Boycott Act. Retrieved from https://www.congress.gov/bill/115th-congress/house-bill/1697
Moritz-Rabson, D. (2018). Teacher sues Texas after being fired for refusing to sign pro-Israel contract. Retrieved from https://www.newsweek.com/teacher-fired-refusing-sign-pro-israel-document-1262083
Stein, Y. (2003). Any name illegal and immoral. Ethics & International Affairs, 17(1), 127-137.
Study Document
CEOs And Presidents
… succeeded at leading Johnson & Johnson for the past 8 years. Skilling failed in his leadership role at Enron and was jailed for fraud. Musk has seen a string of successes and failures during the course of his tenure as head of Tesla. This paper discusses their ……
References
References
Bromley, H. R. (2007). Are you a transformational leader?. Physician Executive, 33(6), 54.
Brown, M. E., & Treviño, L. K. (2014). Do role models matter? An investigation of role modeling as an antecedent of perceived ethical leadership. Journal of Business Ethics, 122(4), 587-598.
Chamers, M.M. (2014). An Integrative Theory of Leadership (4thed.). New York, NY: Psychology Press.
De Vries, M.F.K. (1998). Charisma in action: The transformational abilities of Virgin's Richard Branson and ABB's Percy Barnevik. Organizational Dynamics, 26(3), 7-21.
Healthcare Technology Report. (2019). Alex Gorsky is the all-American CEO. Retrieved from https://thehealthcaretechnologyreport.com/alex-gorsky-is-the-all-american-ceo/
Holmes, A. (2007). Ethics: Approaching moral decisions. Downers Grove, IL: InterVarsity Press.
Kameda, T., Ohtsubo, Y., & Takezawa, M. (1997). Centrality in sociocognitive networks and social influence: An illustration in a group decision-making context. Journal of personality and social psychology, 73(2), 296.
Kolodny, L. (2018). Elon Musk’s extreme micromanagement has wasted time and money at Tesla, insiders say. Retrieved from https://www.cnbc.com/2018/10/19/tesla-ceo-elon-musk-extreme-micro-manager.html
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