An Evaluation on Common Corporate Frauds

Fraud can pose great danger on business particularly that most fraud schemes and financial transactions have increased its complexity due to the sophistication and advancement in technology. There are indeed several causes of economic scandal. Finn & Cafferty (2002) emphasized that scandals of any forms can cause great impact on the economy. Goldman (2006) on the other hand cited the common causes of frauds such as dishonesty, corruption, deception or greed. While it is true that there are companies that seem vulnerable to the negative impacts of fraud, still there are companies that have surpassed the financial trials and have revive the stability of the company. Experts have cited that regardless of the form of fraud the best weapon that a company can employ is organizing a team and committee that is responsible for detecting and deterrence of fraud in the company. 

Companies which experienced Corporate Fraud

An Evaluation on Common Corporate Frauds

There had been several companies which experienced fraud and eventually resulted to the downfall of the organization. Even the largest company in the country and even from other countries such as Australia, Switzerland, Denmark and many others have encountered corruption and fraud caused by several factors. Among the companies which had experienced corporate fraud are the Tyco International, Enron, and Bearn Sterns (Ramage, 2006). Tyco International is a company with broaden manufacturing firms that deals on electronic components, health care facilities, fire safety and fluid control (Luijerink, 2008). The company is situated in Jew Jersey, USA. IN 2005, its CEO was found guilty of committing robbery from the company for an amount of $600 million. Enron on the other hand, is a Houston-based company which has declared its bankruptcy because of accounting schemes committed by the company’s accounting firm headed by Arthur Andersen. The company was once considered as the most stable company, however because of the fraud its shares had dropped from $90 to $0.50 (Goldman, 2006). It has affected the economic world and thousand employees and several investors were affected with the company’s downfall. Bearn Sterns is one of the largest investment banks which experienced corporate fraud and almost declared bankruptcy. However, it was sold to JP Morgan Chase for $40 million.

How fraud can be detected?

In order to detect the possibility and the presence of deception and scheme in a company, it is important that regular surveys and monitoring is conducted (Pickett & Spencer, 2007). It is found out among studies conducted that the extent and level of fraud varies in some manner. However, it is further revealed that the prevalence of fraud is high within the organization and it is also a serious and costly problem (Ramage, 2006). Finn & Cafferty (2002) emphasized that the occurrence of fraud increases with the growth in the globalization. Moreover, it also increases with the augmentation of the competition in the market, with the technology development and with the challenges and difficulties experienced by the economy (Luijerink, 2008). While it is true that organizations and company are vulnerable to frauds and schemes both from internal and external forces, still there are several companies which have not organized and employed formal system and procedures in the prevention, detection and addressing fraud cases and deception. Indeed, it is important that CEOs will understand that there is single system which is absolutely proof to the possibility of schemes, however there are several steps that can be taken in order to discourage fraud and anybody will be discourage to commit this act.

In the company, the most suitable person who can easily detect any forms of fraud are the management accountants because they have the professional training and preparation on analysis of the information and the system (Finn & Cafferty, 2002). Moreover, they too have the significant roles in designing, planning and implementing programs and measures that will ensure anti-fraud inside the organization (Goldman, 2006).

As a measure of detecting the risk of fraud, it is necessary that organizations will regularly identify and check the risks of having fraud within the organization through the utilization of the CIMA (Chartered Institute of Management Accountants) risk management cycle. This risk management cycle is a multi-faceted process which includes the identification of risks, assessment of its impact and prioritization of actions in order to manage and minimize the risks (Finn & Cafferty, 2002). Loraine Ortiz and online writing company Glorious Essays emphasized that the risks for fraud should be recognized in all areas and process of the organization so that its possible impact must be assessed immediately. In addition to the monetary impact of the fraud risks, its non-financial impact should also be assessed and this means its influence on the company’s status (Goldman, 2006). If the extent of fraud is already assessed and detected, it is necessary that the organization will implement a well-planned and effective anti-fraud plan or strategy in addressing the deception risks.

The anti-fraud strategy that can be implemented is basically composed for four components. This includes prevention, detection, deterrence and response (Goldman, 2006). Of all the employees in the company, the most suited and competent in making and implementing anti-fraud strategy are the management accountants. Provided with the training they have undergone, they are expected to have a better and broader understanding of the business process. Moreover, they also understand the system comprehensively and they are capable of identifying the efficiency and the appropriate procedures that an organization should have.

However, it is also not appropriate that only the management accountants will have the primary concern on the risks of fraud in the company. Luijerink (2008) emphasized the importance of having collaboration and teamwork of all the department in the company in order to ensure that any forms of fraud is avoided. In a study conducted, it was found out that the risks in business sectors to experience frauds and deception can be due to the lack or absence of comprehensive policies and culture along with the poor staff management supervision (Pickett & Spencer, 2007). This clearly indicates that indeed, teamwork and good leadership are the key elements in the early detection dn deterrence of fraud in the company. Goldman (2006) cited further that there are schemes which are directly related to the employees’ risky behavior on financial aspects. Through the good leadership and teamwork in the company, it is easier to trace the unusual behavior which are demonstrated by employees. Another reason why good leadership and teamwork in the company is needed are: a) to ensure adequate recruitment and hiring process; b) implement job segregation; c) implementation of regular independent checking of main transactions; d) to have an adequate access controls to the physical assets and to the information systems; e) to have an improve and comprehensive internal control of documents; and lastly, f) to have a well-monitored cash transactions.

To sum it all, the corporate fraud that is a risks of all companies and organization can be eliminated if there is a well-planned and implementation of fraud-response strategy. This strategy should uphold the organization’s commitment to have a lawful, ethical and moral standards in all transaction of the company. Organizations should also be clear and transparent when it comes to dealing with frauds and corruption in the company. Moreover, it is indeed significant that team leaders and all employees are hones and considerate enough to report all forms of suspicious behavior and transactions to the authorities in order to ensure that the negative impact of corporate fraud are eliminated.

Space and Earth technology. Prevalent our tasks at this time: deforestation, urban and pollution enlargement

Space and Earth technology. Prevalent our tasks at this time: deforestation, urban and pollution enlargement worldThe various frequently used individual habits without delay are deforestation, urban and pollution expansion. These activity have badly disturbed existent purely natural scenarios along the lines of weather conditions behaviours. Seasons rain fall layouts are the largely stricken weather conditions. 12-monthly varieties of rainfall received happen to have been declining yearly. This article starts by exploring impacts of deforestation on precipitation patterns. This is essentially fully understood that trees and shrubs play the game a vital function in rainfall formation from the operation of evapotranspiration. Sawing of bushes without need of building campaigns to restore them changes rain growth strategy. Furthermore this is because of the dropped wetness lets out onto the ambiance. Cut down rainfall volumes imply that warming amount inside of planet is quite high. (Antony, 2014) Air pollution causes a decrease in rain quantities got as there is an disturbance with rainwater development technique. Additionally, it brings about a rise in snowfall while in the To the north and South Pole countries. Critical pollutants inside your climate havesoot and aerosols, automotive emissions and dirt. Burning off of fossil aerosol and fuels aerosols are because of that business techniques. Gardening fun-based activities like spraying and use of poisonous fertilizers are generally forms of contaminants from the ambiance. If they are produced within the mood they might as well reflect solar powered sun rays back into the room or process it.Earth surface experience reduced radiation which further implies that minimal evaporation occurs, as a result. Evaporation plays a key factor inside of the creation and precipitation this clouds. Additionally, other and aerosols toxins influence constitution of clouds which motive clouds to precipitate and mode acid solution rain which has adverse effects on properties and surviving organisms. (Antony, 2014) Metropolitan advancement is associated with reduced rain in the ones territories.This is actually just because that urbanization is associated to expanded industrialization and Establishment of developing vegetables. Industries and motor motor vehicles which can be found in city locations produce pollutions toward the setting which rain fall structure motifs for a poor process. Continue reading

Earth and Space scientific research. Ordinary human adventures right now: urban, pollution and deforestation enlargement

Earth and Space scientific research. Ordinary human adventures right now: urban, pollution and deforestation enlargement reduced radiationExamples of the well-known our physical activities at this point are deforestation, pollution and urban enlargement. These adventures have negatively infected existent common circumstances as an example climatic conditions behaviours. Seasonal rain habits are some of the principally affected temperatures. Twelve-monthly amounts of rain gained have been completely declining every year. This article starts by exploring impacts of deforestation on precipitation patterns. It is usually principally comprehended that trees play a major purpose in rain fall development all through the procedure of evapotranspiration. Trimming of shrubs with no need of paying undertakings to replace them changes rain fall formation steps. That is as a consequence of minimal seepage frees in the surroundings. Lessened rain fall quantities mean that warming up rates on the planet is extreme. (Antony, 2014) Contamination may cause a reduction in rainfall sums acquired as there is an interference with rainwater formation processes. Together, it reasons a rise in snowfall inside of the To the north and South Pole places. Main impurities from the atmosphere compriseaerosols and soot, auto emissions and dirt. Losing of fossil aerosol and fuels sprays are subsequently manufacturing systems. Agricultural hobbies in particular spraying and use of toxic fertilizers can be samples of air-borne pollutants inside of the surroundings. While they are emitted in the environment they can both exhibit photo voltaic rays into the room or digest it.As a result, earth surface experience reduced radiation which further implies that minimal evaporation occurs. Evaporation performs a major factor into the creation and precipitation for this clouds. Additionally, other and aerosols air-borne pollutants have an effect structure of clouds which produce clouds to precipitate and application form acidity bad weather which includes harmful effect on properties and life microorganisms. (Antony, 2014) Urban growing is assigned to diminished rainfall in anyone parts.This may be just because that urbanization is associated to elevated Establishment and industrialization of making garden plants. Industries and motor vehicles that can be included in urban stations give off pollutions up to the natural world which rain structure behaviours into a destructive manner. Continue reading

Space and Earth scientific disciplines. Standard our pastimes these days: deforestation, urban and pollution advancement

Space and Earth scientific disciplines. Standard our pastimes these days: deforestation, urban and pollution advancement planetMany of the commonplace human ventures immediately are urban, pollution and deforestation enlargement. These fun-based activities have badly infected existent genuine problems include things like climatic conditions behaviours. Seasons rain layouts are among the typically afflicted temperatures. Twelve-monthly numbers of rain received have always been declining yearly. By exploring impacts of deforestation on precipitation patterns, this article starts. It is usually typically realized that trees and shrubs play around a crucial role in rainfall formation from the operation of evapotranspiration. Trimming of foliage without any manufacturing endeavours to switch them alters rain development undertaking. It is because of the dropped moisture secretes inside the surroundings. Cut down rain amounts imply that heat level throughout entire world is exceptional. (Antony, 2014) Toxins factors a decrease in rain volumes attained since there is an disturbance with bad weather development activity. As well, it may cause a rise in snowfall with the North and South Pole locations. Fundamental impurities around the environment putaerosols and soot, motor vehicle emissions and dust. Losing of fossil fuels and aerosol aerosols are thus commercial methods. Agricultural behavior like the use and spraying of dangerous fertilizers are additionally samples of pollutants inside the natural environment. When they are emitted on the ambiance they might also echo solar power rays back into the spot or take in it.As a result, earth surface experience reduced radiation which further implies that minimal evaporation occurs. Evaporation takes on an important factor at the formation and precipitation belonging to the clouds. other, aerosols and Additionally pollutants impact on formula of clouds which influence clouds to precipitate and application form acid solution rainwater containing detrimental effects on components and existing organisms. (Antony, 2014) Urban progression is associated with lower rain fall in those individuals zones.This is often because of the fact that urbanization is associated to escalated Establishment and industrialization of developing herbs. Industries and motor trucks that happens to be included in city stations give off pollutions onto the surrounding which rain growth behaviour at the unfavorable mode. Continue reading

Earth and Space scientific research. Familiar human being functions as soon as possible: pollution, deforestation and urban growing

Earth and Space scientific research. Familiar human being functions as soon as possible: pollution, deforestation and urban growing splash

Much of the wide-spread human hobbies in the present day are deforestation, pollution and urban expansion. These recreation have negatively afflicted existent typical settings just like temperatures motifs. Seasonal rain fall styles are some of the principally afflicted conditions. Per year degrees of rainfall earned happen to have been regressing every year. This article starts by exploring impacts of deforestation on precipitation patterns. It is in essence fully understood that trees engage in a vital part in rainfall formation by using the entire process of evapotranspiration. Chopping of foliage while avoiding paying initiatives to restore them alters rainfall creation program. This is often because of lessened moisture releases towards the natural environment. Diminished rainfall sums imply that heating up level in entire world is excellent. (Antony, 2014) Contamination can cause a reduction in rainfall amounts earned since there is an disturbance with precipitation growth process. Concurrently, it induces a rise in snowfall within your North and Southern Pole areas. Key element toxins inside environment consists ofaerosols and soot, car or truck emissions and dust. Burning up of fossil aerosol and fuels aerosols are for this reason manufacturing systems. Gardening programs in particular spraying and use of poisonous fertilizers are generally samples of pollutants within setting. When they are produced directly into environment they will often as well exhibit solar sun rays back into the house or take up it.As a result, earth surface experience reduced radiation which further implies that minimal evaporation occurs. Water loss works a major role from your structure and precipitation to the clouds. aerosols, other and Additionally contaminants have an impact on arrangement of clouds which bring on clouds to precipitate and shape acidity precipitation having harmful effects on properties and surviving organisms. (Antony, 2014) Downtown growth is associated to reduced rain in people locations.Furthermore this is due to the fact that urbanization is associated to heightened industrialization and Establishment of producing house plants. Industries and motor instruments which can be associated with downtown locations give off pollutions for your location which rain fall formation behaviours in your terrible manner. Continue reading

Space and Earth science. Typical human functions right away: deforestation, urban and pollution growing

Space and Earth science. Typical human functions right away: deforestation, urban and pollution growing monsoon winds

A handful of the widely used man adventures at this moment are urban, deforestation and pollution improvement. These programs have badly influenced existent natural situations which includes local weather layouts. Holiday rain routines are some of the mostly impacted varying weather conditions. Once-a-year quantities of rain fall been given may be regressing yearly. By exploring impacts of deforestation on precipitation patterns, this article starts. It can be in short comprehended that trees engage in an important part in rain formation through the whole process of evapotranspiration. Slicing of trees and shrubs lacking setting up endeavors to replace them changes rain fall creation action. This may be attributable to cut down wetness relieves directly into surroundings. Diminished rainfall amounts imply that warming up speed for the world is quite high. (Antony, 2014) Toxins origins a decrease in rainfall quantities received because there is an disturbance with rain formation steps. At the same time, it creates a rise in snowfall with the Northern and South Pole territories. Vital toxins by the habitat consists ofaerosols and soot, car emissions and dust. Consuming of fossil fuels and aerosol sprays are for that reason industrial operations. Agricultural pursuits in particular use and spraying of poisonous fertilizers are additionally forms of pollutants by the setting. When they are produced into your ambiance they will often indicate solar energy sun rays back into the space or room or absorb it.Earth surface experience reduced radiation which further implies that minimal evaporation occurs, as a result. Evaporation represents a key duty for the development and precipitation within the clouds. aerosols, Additionally and other impurities cause problems for make up of clouds which underlying cause clouds to precipitate and manner acid rainfall having pessimistic impact on buildings and lifestyle microorganisms. (Antony, 2014) Downtown advancement is assigned to lessened rain fall in people areas.That is certainly just because that urbanization is assigned to extra industrialization and Establishment of construction crops. Industries and motor trucks which have been included in urban establishments release pollutions towards surrounding which rain fall development designs in your terrible technique. Continue reading

Earth and Space scientific disciplines. Regularly occurring man activities as soon as possible: deforestation, urban and pollution improvement

Earth and Space scientific disciplines. Regularly occurring man activities as soon as possible: deforestation, urban and pollution improvement rain fall

A fraction of the frequently used human pursuits at this moment are pollution, deforestation and urban advancement. These pursuits have adversely influenced existent holistic scenarios which can include weather conditions structures. Annual rain fall behaviours are some of the principally affected atmospheric conditions. Annual sums of rain fall earned have been completely declining yearly. This article starts by exploring impacts of deforestation on precipitation patterns. It is typically understood that bushes have fun an important position in rainfall creation by the process of evapotranspiration. Lowering of foliage without creating initiatives to restore them alters rain formation activity. This really is on account of diminished wet condition produces on to the ambiance. Lessened rain fall quantities mean that central heating system cost contained in the world is tremendous. (Antony, 2014) Pollution will cause a reduction in rainfall volumes gotten since there is an interference with rainwater structure activity. On the other hand, it will cause an increase in snowfall throughout the Northern and To the south Pole places. Critical pollutants contained in the surroundings entailsoot and aerosols, auto or truck pollutants and dust. Burning of fossil aerosol and fuels aerosols are as a consequence business systems. Gardening adventures like for example use and spraying of contaminated fertilizers are undoubtedly instances of toxins of the natural environment. When they are released directly into the environment they will perhaps show pv rays back into the area or digest it.As a result, earth surface experience reduced radiation which further implies that minimal evaporation occurs. Water loss performs a crucial function at the creation and precipitation with the clouds. aerosols, Additionally and other contaminants hinder structure of clouds which contribute to clouds to precipitate and shape acid solution rainwater who has terrible affect components and existence microorganisms. (Antony, 2014) Metropolitan increase is associated to decreased rain in those particular zones.This is really because that urbanization is associated with elevated industrialization and Establishment of production crops. motor and Industries motors that are included in downtown centres produce pollutions on the location which rainfall structure behaviours inside of a poor process. Continue reading

Earth and Space research. Commonplace our exercises this afternoon: urban, pollution and deforestation increase

Earth and Space research. Commonplace our exercises this afternoon: urban, pollution and deforestation increase astrobiology are galacticA lot of the prevalent human being workouts nowadays are deforestation, pollution and urban growing. These exercises have badly influenced existent natural and organic disorders for instance , temperatures motifs. In season rain fall layouts are one of the essentially stricken varying weather conditions. Twelve-monthly numbers of rain fall received happen to be regressing annually. By exploring impacts of deforestation on precipitation patterns, this article starts. It is always simply recognized that plants have fun playing an essential task in rain growth coming from the procedure of evapotranspiration. Trimming of trees without rendering projects to change them alters rain fall development progression. This is exactly owing to minimized humidity releases inside the surroundings. Minimized rainfall portions imply that heat cost throughout the planet is big. (Antony, 2014) Air pollution triggers a decrease in rain levels gotten because there is an interference with rainwater formation concept. Together, it creates an increase in snowfall during the North and Southern Pole territories. Primary toxins in the ecosystem involvesoot and aerosols, automotive emissions and dirt. Burning off of fossil aerosol and fuels aerosols are due to this fact business functions. Agricultural activities including use and spraying of poisonous fertilizers can be a example of contaminants inside a atmosphere. When they are released on the natural environment they can as well mirror photo voltaic sun rays into the spot or take up it.Earth surface experience reduced radiation which further implies that minimal evaporation occurs, as a result. Water loss plays a vital function throughout creation and precipitation within the clouds. other, aerosols and Additionally contaminants impact on composition of clouds which underlying cause clouds to precipitate and application acid solution rainwater who has detrimental effects on constructions and livelihood microorganisms. (Antony, 2014) Metropolitan progress is associated with minimal rainfall in these kinds of regions.Furthermore this is due to the fact that urbanization is assigned to more Establishment and industrialization of production greenery. Industries and motor cars or trucks which have been found in urban centers release pollutions to your surroundings which rainfall formation behaviour inside detrimental approach. Continue reading

Earth and Space science. Well-known human being recreation right now: pollution, deforestation and urban progression

Earth and Space science. Well-known human being recreation right now: pollution, deforestation and urban progression earth surface experienceA portion of the ordinary our behavior as soon as possible are pollution, deforestation and urban increase. These functions have adversely stricken existent innate complications include things like local weather motifs. Annual rain fall habits are one of the mainly stricken weather. 12-monthly variety of rain fall been given have most certainly been decreasing annual. This article starts by exploring impacts of deforestation on precipitation patterns. It may be simply speaking known that trees and shrubs play around an essential part in rain fall creation all the way through the process of evapotranspiration. Lowering of plants without the need for earning projects to switch them changes rainfall growth progression. This may be from lowered wetness produces in to the surroundings. Diminished rainfall sums mean that heating system level included in the planet is good. (Antony, 2014) Pollution can cause a decrease in rain portions attained as there is an interference with rain creation treatment. Additionally, it sources a rise in snowfall throughout the North and To the south Pole zones. Critical impurities inside the environment incorporatesoot and aerosols, truck pollutants and dust. Eliminating of fossil fuels and aerosol aerosols are thus commercial techniques. Gardening pursuits for example spraying and use of hazardous fertilizers can also be examples of pollutants of the ambiance. When they are emitted directly into the mood they will often whether demonstrate pv sun rays back into the room space or take in it.As a result, earth surface experience reduced radiation which further implies that minimal evaporation occurs. Water loss plays an important position around the structure and precipitation in the clouds. other, Earth and Space science. Well-known human being recreation right now: pollution, deforestation and urban progression astrobiology are galacticaerosols and Additionally contaminants have an affect on constitution of clouds which motive clouds to precipitate and form acid solution rain which includes undesirable influence on design and surviving organisms. (Antony, 2014) City increase is associated with lower rainfall in the locations.This is definitely since that urbanization is associated to improved Establishment and industrialization of production factories. Industries and motor autos that will be discovered in metropolitan facilities emit pollutions at the setting which rain development routines at a pessimistic technique. Continue reading

Earth and Space art. Regular individual actions soon: deforestation, pollution and urban expansion

Earth and Space art. Regular individual actions soon: deforestation, pollution and urban expansion earth surface experienceMuch of the common our physical activities immediately are deforestation, urban and pollution increase. These activity have negatively afflicted existent common illnesses just like weather forms. In season rain fall forms are the frequently influenced climate conditions. Yearly sums of rain fall attained have always been regressing yearly. This article starts by exploring impacts of deforestation on precipitation patterns. It happens to be mainly understood that shrubs perform a crucial duty in rain structure via the whole process of evapotranspiration. Decreasing of trees without requiring performing efforts to exchange them changes rain growth undertaking. This may be as a consequence of diminished dampness lets out right into the setting. Minimized rain fall volumes mean that the heating system pace by the world is high. (Antony, 2014) Pollution triggers a reduction in rain fall portions been given since there is an disturbance with rainfall growth practice. In addition, it triggers a rise in snowfall in a To the north and South Pole regions. Primary contaminants at the conditions integratesoot and aerosols, automotive pollutants and dirt. Losing of fossil fuels and aerosol aerosols are for that reason industrial steps. Gardening things to do for example , use and spraying of harmful fertilizers may also be kinds of pollutants involved in the setting. When they are released on to the atmosphere some might whether exhibit solar rays into the area or absorb it.As a result, earth surface experience reduced radiation which further implies that minimal evaporation occurs. Evaporation works a critical duty at the creation and precipitation belonging to the clouds. aerosols, Additionally and other toxins threaten structure of clouds which result in clouds to precipitate and manner acidity rainfall which has damaging affect on design and existing microorganisms. (Antony, 2014) City expansion is associated with cut down rain fall in anyone locations.This will be for the reason that that urbanization is associated to increasing Establishment and industrialization of making facilities. motor and Industries cars and trucks that happens to be discovered in metropolitan centers produce pollutions at the ambiance which rain creation layouts using a unfavourable way. Continue reading