BUS 426 Chapter Notes - Chapter 11: Bid Rigging, Earnings Management, Financial Statement

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sapphiresnake846

19 Sep 2012

School

Simon Fraser University

Department

Business Administration

Course

BUS 426

Professor

Michael Favere- Marchesi

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Document Summary

Fraud: an intentional misstatement of the financial statements. Bid rigging, where the bidders for a contract collude to increase the price of the contract. Bid fixing, where a bidding party is provided with insider information, giving an unfair advantage. Bribery and kickbacks, where the contract is awarded on the basis of a payment to a company insider involved in the contract-awarding decision: corporate identity theft: another organization represents itself as the affected company. Fraud triangle: represents the three conditions for fraud: Fraud risk factors: entity factors that increase the risk of fraud. The audit committee oversees its internal control and financial reporting processes, so it acts as a deterrent for fraud. Auditors role in assessing the risk of fraud. Fraud risk assessment, have a plan that considers fraud risks throughout the whole audit. Consider the sources of information about fraud risks: communication among audit team, inquiries of management, risk factors, analytical procedures, other information.

Related Questions

Identify which human resources management activity is being illustrated in the following examples:

HR management activities:

staffing	compensation & benefits	training & development
compliance	employee relations

1) _________ An HR manager consults with an employee about her continuing education options.

2) _________ An HR manager solves a paperwork snag involving an employee's paycheck.

3) _________ A supervisor conducts a workshop on haw tn properly dispose of a certain chemical.

4) _________ An HR manager conducts an exit interview with retiring employee

5) _________ An HR manager mediates a conflict between an employee and his. 6)

6) _________ A manager conducts job orientation for several new employees.

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Which of the following is a benefit derived from budgeting?

A) Budgeting focuses management's attention on the future.
B) Budgeting provides coordination of departments.
C) Budgeting provides a basis for evaluating performance.
D) Budgeting provides motivation for managers and employees.
E) All of the choices are benefits derived from budgeting.

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The difference between a company's strategy and a company's business model is that

A)a company's strategy is the plan for achieving strategic objectives while its business model is the plan for achieving financial objectives.

B)the strategy concerns how to compete successfully and the business model concerns how to operate efficiently.

C)a company's strategy is management's game plan for realizing the strategic vision whereas a company's business model is the game plan for accomplishing the business purpose or mission.

D)strategy relates broadly to a company's competitive moves and business approaches (regardless of the financial outcomes it produces) while the term business model relates to whether the revenues and costs flowing from the strategy demonstrate that the business is viable from a profit perspective.

E)a company's strategy concerns how to please customers while its business model concerns how to please shareholders

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BUS 426 Chapter Notes - Chapter 11: Bid Rigging, Earnings Management, Financial Statement

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