Fraud Examination
6th Edition
ISBN: 9781337619677
Author: Albrecht, W. Steve, Chad O., Conan C., Zimbelman, Mark F.
Publisher: Cengage,
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Question
Chapter 16, Problem 12SC
To determine
The manner in which the father can be prosecuted criminally.
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Students have asked these similar questions
5. What does Tina mean in her statement to the Clare County Review "the effects of an
embezzlement are far reaching and detrimental for everyone"? Who were all the stakeholders
that were all affected in this case? How was each of them harmed?
6. Jenifer was caught embezzling via the payroll system, how else might she have been stealing
from the company that was never proven?
7. Why do you think Jenifer embezzled the money?
8. Do you think her sentencing is too lenient, too harsh, or is appropriate? Why?
9. What would you do if your friend and employee was stealing from a company that you owned?
During an internal investigation, Black, a Certified Fraud Examiner, interviewed Green, a fraud suspect. Although Green wanted to leave in the middle of the interview, Black blocked the exit and prevented him from leaving. Green subsequently confessed to committing fraud. If, under these facts, Green files a lawsuit for false imprisonment against Black, Black will likely: A. Win the case because the qualified business privilege protects investigators conducting internal investigations. B. Win the case because Green confessed to the fraud. C. Lose the case if a trier of fact concludes that he restrained Green without consent or legal justification. D. Lose the cans because Green did not leave the interview.
The Sarbanes-Oxley Act (SOX) contains all of the following titles that have a direct impact on forensic accounting and fraud except:
Group of answer choices
Title 4 prohibits personal loans and requires certain financial disclosures.
Title 11 provides a possible 25-year prison sentence for anyone altering, destroying, mutilating, or concealing a record, document, or other object (or otherwise impeding) for an official proceeding.
Title 9 increases maximum prison sentences for mail and wire fraud from 5 to 20 years. Willfully and knowingly certifying financial reports not in compliance with the Act is now a criminal offense.
Title 4 prohibits personal loans and requires certain financial disclosures.
Chapter 16 Solutions
Fraud Examination
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Similar questions
- 12) Yakov is an executive of Fit Corp., a chain of fitness clubs. For years, he successfully hid illegal and misleading accounting practices, but eventually, he was exposed and punished with a jail sentence under the A) Celler-Kefauver B) Glass-Steagall C) Dodd-Frank D) Gramm-Leach-Bliley E) Sarbanes-Oxley Act.arrow_forwardRica, the president of XYZ Corporation was authorized by the Board of Directors of XYZ Corporation to obtain loan from ABC Bank and to sign documents in behalf of the corporation. Rica personally negotiated for the loan and got the loan at very low interest rates. Upon maturity of the loan, XYZ Corporation was unable to pay. Which statement is most accurate? a. Because Rica was personally acting in behalf of the Corporation, she can held personally liable b. If XYZ Corporation cannot pay, Rica can be held subsidiarily liable c. Rica, as President, cannot be personally held liable for the obligation of the corporation even though she signed all the loan documents, because the loan was authorized by the Board d. ABC Bank can choose as to who it wants to hold liable for the loanarrow_forwardCraig commits fraud on his tax return. It is found that he was $40,000 deficient in his tax because of the fraud. What would his penalty be? Please show all calculations to demonstrate how you arrived at your answer. In your response, please make sure to take all of the facts above into consideration. You can refer back to the text, lecture videos, and the IRS website.arrow_forward
- Kyle provides landscaping services to a number of clients. In filing his current-year income tax return, Kyle excluded revenue received from cash customers. If Kyle is found guilty of fraud, he may be subject to all of the following except: a. Other penalties as provided by law. b. A fine for not more than $250,000. c. Being held responsible for the costs of prosecution. d. Imprisonment for not more than 2 yearsarrow_forwardBlack is a Certified Fraud Examiner for the ABC Company. Green, an employee in the accounting department, steals $40,000 worth of merchandise from the store’s warehoused. If Green’s cas is eventually referred to the police by Black, they will probably charge Green with: A. Breach of contract. B. Breach of fiduciary duty. C. Embezzlement. D. Larceny.arrow_forwardWhich of the following items is not true about fraud?a. It can cause injury or damage to another party.b. It is an intentional misrepresentation of facts.c. Its damages must exceed a threshold of $150,000.d. It is designed to persuade another party to act in a way that causes injury or damage tothat party.arrow_forward
- Rohini works as an accountant with PQR Ltd. She embezzled $20,000 from the company bank account. She was caught in the annual audit of the company. She justified her action saying that her employer has not given any pay rise, so she had to take $20,000 from the account. Explain in your own words the internal control that may have failed in the above situation. Also explain which element of the fraud triangle Rohini is referring to justify her action.arrow_forwardDoe purchased an automobile from Jones for $1,000. Unknown to Doe, Jones had used the automobile as security for a loan from his bank, and the bank had registered its security interest in the automobile under the provincial personal property security registration legislation. A few months after the sale, Jones defaulted on the loan, and the bank discovered that Doe was in possession of the automobile. The bank is not entitled to seize the automobile, because it had not given Doe notice of its claim against the vehicle before Doe purchased it. True Falsearrow_forwardGreen, a police officer, suspected that Brown was engaged in illegal racketeering activities. To obtain evidence of Brown’s illegal conduct, Green place a bug in Brown’s home without a warrant. Green may have violated which of Brown’s constitutional rights? A. Fourteenth Amendments rights. B. Fifth Amendments rights. C. Sixth Amendments rights. D. Fourth Amendments rights.arrow_forward
- 1. Under the Statute of Frauds, the following contracts must be in writing, otherwise they cannot be enforced in court litigation except CHOICES: Sale of personal property at a price not more than P300.00 Sale of real property regardless of the price involved Sale of property not to be performed within a year from the date thereof regardless of the nature of the property and price involved Answer not givenarrow_forwardNaeem was a treasury manager in Raheel Associates (RA). Naeem robbed Rs. 100,000 cash from the business. Raheel, the owner of the business, instituted legal proceedings against Naeem. Naeem agreed to return the cash and Raheel agreed to withdraw the proceedings against him. Naeem fulfilled his part of the promise. Under the provisions of the Contract Act, 1872 explain whether Raheel is bound to withdraw the proceedings against Naeem.arrow_forwardWhat did Dennis Kozlowski of Tyco do that was so unethical or illegal in the world of business and accounting that ended him up in prison?arrow_forward
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