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Treadway

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Issue:

Business

 

Written by:

Franklin A

 

Date added:

October 12, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 477

 

Was viewed:

3649 times

 

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Essay content:

If the tone of management and/or corporate is laidback then the likelihood of fraudulent reporting is higher. The Report recommends that the companies incorporate a framework which includes; identifying, understanding, and assessing the risk of fraudulent financial reporting and to design and implement internal controls...
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Internal controls are used for preventing and detecting fraud. In 2002, CEO of Tyco International, Ltd. (Tyco), Dennis Kozloski and Mark H. Swartz, chief lieutenant, were charged with stealing $150 million and selling company shares for $430 million ultimately inflating the value of the stock. Kozloski claimed that the $150 million were bonuses that were authorized by the board...
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