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CMA 1289 3-Y6

Causes of Fraud

The studies conducted by the National Commission on Fraudulent Financial Reporting (the Treadway Commission) revealed that fraudulent financial reporting usually occurs as the result of certain environmental, institutional, or individual influences and opportune situations. These influences and opportunities, present to some degree in all companies, add pressures and motivate individuals and companies to engage in fraudulent financial reporting. The effective prevention and detection of fraudulent financial reporting requires an understanding of these influences and opportunities while evaluating the risk of fraudulent financial reporting that these factors can create in a company. The risk factors to be assessed include not only internal ethical and control factors but also external environmental conditions.

Required:

a. Identify two situational pressures in a public company that would increase the likelihood of fraud.

b. Identify three corporate circumstances (opportune situations) where fraud is easier to commit and detection is less likely.

c. For the purpose of assessing the risk of fraudulent financial reporting, identify the external environmental factors that should be considered in the company’s

i. industry.

ii. business environment.

iii. legal and regulatory environment.

d. List several recommendations that top management should incorporate to reduce the possibility of fraudulent financial reporting.

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Austrian company Red Bull is such an effective marketer that many Americans assume it’s a local brand. Its most successful tactic is to host extreme sports events globally and take the brand everywhere. Also, Red Bull looks like a global product, not like a traditional American soft drink in a 12-ounce can, with script lettering like Pepsi or Coke. It looks European. This example shows all of the following EXCEPT that

O global marketers design their products to meet regulations in major markets
Red Bull develops products that can be sold in most markets
sponsoring global events helps a brand gain local appeal
Red Bull should localize its packaging to appeal to global customers

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Mr. Mohammed and Ahamed are working in a Shawarma shop; As per Mohammed agreement, every day he has produce 500 piece of shawarma and he collects his daily wage 30 rials from his shop owner and as per Ahamed contract he want to produce 700 unit of shawarma as Per his contract he will get 100 paise (OMR) rials per unit of production. Calculated we will get more pay and calculate the differences.

a. Mohammed is getting more rials – 42 OMR

b. Ahamed is getting less rials – 41 OMR
c. None of these option
d. Mohammed is getting more rials – 45 OMR
e. Ahamed is getting more rials – 40 OMR
f. Ahamed is getting more rials – 45 OMR
g. Mohammed is getting more rials – 40 OMR

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CASE

MOBILE PHONE QUALITY AND PRICE

Worldwide sales of mobile phones are a multibillion pound business. There is severe competition among the major manufacturers to attract higher sales and greater market shares. To achieve this, companies compete with each other on price. However, for many customers price may not be as important as the perceived quality of the phone, especially as many phones are marketed at ‘zero price’ under a wide variety of plans and packages being offered by service providers. Today, the range of mobile phones available is huge, as are the functions offered. Oft en viewed as more of a fashion accessory or a ‘must have’ item rather than simply a phone, today’s consumers are demanding a range of attributes such as in-built camera, GPS navigation, compatibility with 3G network, a colour display, and inbuilt MP3 player. Of course, it should also be able to make or receive phone calls. The independent consumer advice charity which? regularly conducts extensive surveys of numerous makes and models of mobile phones on off er and gives them an overall rating score, as well as rating scores for a variety of other categories. Some qualitative information on the phones is also given. The ratings given are then ranked and a Which? ‘Best Buy’ list is produced, of which the table below is an extract. Decision makers and marketers at mobile phone manufacturers would like to know what features of a mobile phone are important for consumers. This would be especially important in helping to design effective marketing and advertising campaigns. They need to know not only what the important factors are, but also which the most important ones are. For example, more consumers are now looking for 3G network compatibility. Out of the 26 mobile phones that were included in the table, all had Bluetooth (this variable was therefore excluded as it did not provide any additional information), 18 were compatible with the 3G network, 19 had Wi-Fi and 23 had a touch screen. In purchasing a mobile phone with a camera, an obvious factor consumers would consider would be the quality of the picture so the resolution of the camera (in megapixels) is included. The battery standby time, the rating of the music player and the weight of the phone are some of the other factors that may influence a consumer’s choice of mobile phone. The following table shows Which? Best Buy overall ratings for 26 phones, along with their music player scores. The table also shows the resolution of the camera, the battery standby time and whether the phone is 3G compatible, whether it has Wi-Fi and a touch screen.

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