Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 2: ZZZZ Best Company (1987)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …started his own rug-cleaning business and called it “ZZZZ Best” (pronounced “Zee Best”). Minkow soon learned that carpet-cleaning was a difficult way to… …company and collect insurance money. He stole his grandmother’s jewel- lery and sold it for USD 2,000. When he urgently needed cash in 1984, he forged… …had been committing fraud. When he wasn’t directly stealing money, he was raising it fraudulently. Nonethe- less, he was able to expand his company and… …“carpet-cleaning king of California”, he slacked on his schoolwork, hired more employees and made it on to the local television news. The publicity began to… …you have revenue. When you have revenue, you have income.” As in many of the more recent corporate scandals, it was not the auditors who… …, the auditors scared Minkow by ask- ing him three months later to see the finished project. But Minkow pulled it off again, by re-renting the still… …unfinished building and, astonishingly, completing it in Accounting Fraud in U.S. Companies 32 just 20 days, at a cost of USD 2 million. It was a… …individuals involved in the restora- tion contract.” ZZZZ Best became unravelled almost as rapidly as it rose. In June 1987, just two days before it was… …bankruptcy, though the ZZZZ Best name was so tarnished by then that it is unlikely it would have been able to stay in business in any case. Investors lost a… …counts of racketeering, securities fraud, embezzlement, tax evasion and bank fraud. It also accused Minkow of setting up dummy companies, writing phony…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Performance Measurement and Controlling of Internal Audit – More Than Just a Measurement Problem

  Dr. Andreas Langer, Andreas Herzig, Prof. Dr. Burkhard Pedell

  …internal audit, it is well advised – as well as any other corporate department – to provide evidence that the resources, which it utilises, and the results… …generally quite rightly refer to a significant contribution that it makes to corporate success, because with sufficient resources, it is able to ensure a… …process. Internal audit also inevitably encounters business and controlling decisions, if it intends to contribute to the corporate objectives. It requires… …appropri- ate information for planning and controlling its target contribution, which portrays its own performance and makes it controllable on this basis… …creating added value and improving the business processes. It supports the organisation in the achievement of its targets by assessing the effectiveness of… …ucts also applies to it (cf. Berry/Parasuraman (1999), p. 87). Therefore, custom- ers and functions must also be identified by internal audit, who will… …the same time. With this, a derivation can be made: If it can be proven, with the fulfilment of the objective intended with the quality assessment… …for in- dicators. It is therefore essential for companies and academics to deal more inten- sively with the subject of performance measurement in… …parative partners could be below their performance level) as a sole measuring in- strument, it also raises the difficulty of adequate comparability between… …seqq. and Ziegenfuss (2000), p. 40). When taking a closer look at the indicators mentioned, it is noticeable that the ma- jority of the…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 37: Siemens (Germany, 2006)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …transactions – payments where it was impossible to identify who received them or what services had been provided. Prosecutors in Italy, Liechtenstein and… …the raid, officials in the United States began investigating the case as well, not least because Siemens is listed on the NYSE. Knowing that it… …faced steep fines unless it cooperated, Siemens hired international law firm Debevoise & Plimpton to work with federal investigators and to conduct an… …division. Later in December, Siemens provided its first estimate of the extent of the scandal, saying it could reach EUR 420 million. But analysts pointed… …and the power genera- tion arm (which paid about USD 300 million in bribes). Altogether, it cost Siemens more than USD 2.6 billion to clear its name… …contracts were at the heart of the bribery scheme. In order to understand why Siemens was so susceptible to corruption, it is necessary to go back to the… …internal compliance department knew of the ongoing black money scandal. “It was a system of organized irresponsibility that was implicitly con- doned,” said… …series of industry trends and suffered from a collapse in overall demand. “It was about keeping the business unit alive and not jeopardizing thousands… …of jobs overnight. We all knew what we did was unlawful. But we thought we had to do it. Otherwise, we would ruin the company.” Thus, Siekaczek… …justified his wrongdoing as economic necessity. It is certainly worth delving into his insider’s account (see NYT December 21, 2008): – From 2002 to 2006…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 8: Sunbeam (1998)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …relied on question- able accounting gimmicks and outright fraud to enhance earnings. It happened under the direction of now disgraced CEO Albert J… …write-off as it closed plants and laid off employees, but its re- ported profits soared in 1997, persuading many analysts that Dunlap had turned the company… …investors had bid the stock so high that it did not appear to be a good value, even if the reported profits were accurate (though they did not turn out to… …attractive than it actually was to potential buyers: “This Accounting Fraud in U.S. Companies 64 was a primer in the techniques of financial fraud, in… …, he wanted X dollars in profit, and go get it.” Dunlap had always assured him that the exaggerated profits could be made up, and the falsifica- tions… …tough and powerful CEO is a pattern that frequently crops up in accounting fraud. “It is a fairly common theme to have a personality like ‘Chainsaw Al’… …Dunlap’s corporate carrier in his book “Chainsaw”, made it clear: “Dunlap’s so-called turnaround of Sunbeam in 1997 was little more than a manufactured… …turning underperforming companies around. It is perhaps noteworthy that during his 23-month reign at Sunbeam, Dunlap cut about half of the 12,000…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 11: American Tissue (2001)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …the books – in what the indictment later said was a futile effort to gain new Accounting Fraud in U.S. Companies 76 financing, even as it was… …contained the material misrep- resentation that the company was in compliance with its loan covenants with its lenders (when it was not), and omitted to… …the same time, Gabayzadeh and Elghanayan set up a labyrinth of 45 companies, described as affiliates of American Tissue, but held apart from it by the… …affiliated companies down with it. Money moved all around these related companies – and away from creditors, as the suit later alleged. By September 30, 2000… …. In a separate lawsuit, Elghanayan was accused of constructing a transaction that saw ATI buy machinery for USD 3.3 million, and then sell it to… …Elghanayan for USD 1 two months later. Gabayzadeh and Elghanayan were later alleged to have used American Tissue’s treasury as if it was their personal… …. In July 2001, the fraud was uncovered when it was figured out that the numbers at American Tissue didn’t add up. Two months later, the company… …. Shortly before, the prosecutor had said in his closing arguments that it was com- pletely unreasonable to believe or even to consider that the CEO simply…

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• eBook-Kapitel aus dem Buch Erfolgreiches Risikomanagement mit COSO ERM

  Kontrollaktivitäten

  Christian Brünger

  …Geschäftsbereichsleiter ihn im System freigegeben hat. Nahezu alle Vorgänge können heutzutage in modernen IT- Systemen abgebildet und dadurch automatisiert werden. So… …jedoch zu einer höheren Abhängigkeit von IT-Systemen, woraus Anforderungen an Kontrollaktivitäten im Bereich IT resultie- ren. Hierauf wird ausführlicher… …. Zahlreiche Kontrollaktivitäten und Überwachungsaktivitäten werden durch IT- Systeme unterstützt und automatisiert, sodass der Aufwand für die… …effizienten Einsatz der Unternehmensressourcen. Quelle: Eigene Darstellung in Anlehnung an IT Governance Institute (2006a) Im Gegensatz zur Dokumentation… …Betriebssystem Datenbank Netzwerkinfrastruktur Applikation Office Software Individualsoftware ERP-System Allgemeine IT-Kontrollen (IT General… …der Verfügbarkeit des IT- Systems gibt es jedoch auch noch weitere Aspekte, auf die die allgemeinen IT- Kontrollen abzielen, wie beispielsweise… …Datenschutz und Datensicherheit. Die grundlegende Struktur der Elemente Hardware und Basissoftware des IT- Systems eines Unternehmens wird in der Regel durch… …Steuerung und Kontrolle der IT in einer Organisation. Die Aufgaben der IT werden in COBIT anhand eines Domänen- und Prozess-Modells gegliedert. Zudem… …vorgestellt und Verant- wortlichkeiten zwischen der IT und den Fachbereichen identifiziert. Das COBIT-Rahmenmodell soll das Erreichen folgender Ziele… …unterstützen: – Ausrichtung der IT auf das Kerngeschäft des Unternehmens – Effiziente Unterstützung der Geschäftsprozesse durch die IT – Optimaler Umgang mit…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 29: Infomatec (Germany, 2000)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …million”. However, the con- tract with Mobilcom was far from “at least” EUR 28 million, and it turned out later that the contract was worth less than EUR 5… …. The stock had plummeted after the company admitted it was disseminating a materially incorrect ad-hoc-bulletin about a supposed large-scale order… …to drive up the company’s stock price and then selling their own shares at peak prices. In addition to the deceptive press releases, it was further…

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• eJournal-Artikel aus "Zeitschrift Interne Revision" Ausgabe 5/2010

  Literatur zur Internen Revision

  Prof. Dr. Martin Richter

  …Sammelwerke Chambers, Andrew; Rand, Graham: The Operational Auditing Handbook: Auditing Business and IT Processes, 2. Aufl., Chichester 2010 (ISBN… …; Sarbanes-Oxley-Act; Control-Self-Assessment; Prüfung einzelner Geschäftsprozesse; Prüfung der Informationstechnologie; Checklisten; Prüfungsprogramme; Übersicht über… …DV-gestützte Prüfun gen / Informationstechnologie Coderre, David: Internal Audit: Efficiency through Automation, Hoboken 2010 (ISBN 978-0-470-39242-3)… …Informationstechnologie. In: Sparkassen-Prüfertag 2009, hrsg. vom Deutschen Sparkassen und Giroverband e.V., Stuttgart 2010, S. 109–136. (Kreditinstitute, Prüfung; Internes…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 1: McKesson & Robbins (1938)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …. Another Musica brother, using the alias Robert Dietrich, was placed in charge of the shipping de- partment. He would forge shipping documents to make it… …bathroom, put a gun to his head and took his own life. His three younger brothers went to prison though. It was eventually discovered that USD 10 million… …more than USD 325 million, spread over the preceding three years. In 2001, the company as- sumed the name “McKesson Corporation”. Today, it is one of… …, pp. 86–90, 133, 236 “My God, Daddy, why did you do it?” Time Magazine, December 26, 1938 Progress, Time Magazine, April 10, 1939 The Ghost of…

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• eJournal-Artikel aus "Zeitschrift Interne Revision" Ausgabe 2/2010

  Literatur zur Internen Revision

  Prof. Dr. Martin Richter

  …. 2009, S. 30– 34. (Professionalisierung der Internen Revision; DV Prüfungen; neues IT Auditing Certificate (ITAC) des IIA (UK); Anforderungen des… …: Internal Auditing (USA), July/Aug. 2009, S. 23–32. (Aufgaben der Internen Revision; Prüfung des Personalbereichs; Risikoanalyse des Personalaufwandes; IT… …Outsourcing-Projekten; Checkliste) Bos, Peter W.; de Korte, Ronald W. A.: Soft Controls: If you Think you have Worked it out, Think Again! In: ECIIA – Yearbook of… …/ DV-gestützte Prüfungen / Informationstechnologie Burfeind, Bernd: Was sich im laufenden SAP-Betrieb immer wieder einschleicht ... In: PRev… …; CheckAud; Fehlermöglichkeiten im laufenden Betrieb) Ivanyos, János: Implementing COBIT based Process Assessment Model for Evaluating IT Controls. In: ECIIA –…

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