Jul 23, 2017 Research papers

Asset Misappropriation and Corporate Governance

This paper concentrates on the primary theme of Asset Misappropriation and Corporate Governance in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

Asset Misappropriation and Corporate Governance

INSTRUCTIONS:

Assignment 4: Asset Misappropriation and Corporate Governance Due Week 10 and worth 320 points For this assignment, use the Internet or Strayer databases to research and identify an organization that was a victim of asset misappropriation. Write a five to six (5-6) page paper in which you: Based on your research, evaluate the type of asset misappropriations that occurred at the organization, and assess the factors that contributed to the misappropriation. Give your opinion on whether poor management or lack of management played a role in the asset misappropriation. Provide support for your rationale. Evaluate the legal mechanisms that could have been used to recover assets through the civil and criminal justice systems. Assess whether the civil and criminal justice systems did an effective job in recovering the organization’s assets. Provide support for your rationale. Assess management’s responsibility to share information related to the breach with various stakeholder groups, indicating what should be shared and how. Provide support for your rationale. Review AICPA Statements on Auditing Standard (SAS) No. 99, “ Risk Factors Relating to Misstatements Arising from Misappropriation of Assets”, found within the text. Assess SAS 99 risk factors and discuss if the risk factors were prevalent in the organization you researched. Give your opinion on whether or not organizations should implement a plan that reviews risk factors on a regular basis to determine if fraud has occurred. Explain why or why not. Review the corporate governance plan of the organization you researched, evaluate the effectiveness of the plan, and make suggestions for improvements to protect the stakeholders. Provide support for your rationale. Recommend a fraud prevention plan for this organization. Determine what positive or negative consequences this fraud prevention plan might have on employees’ morale and the public perception of the organization. Use at least four (4) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Examine the basic concepts related to fraud, including environment, impact, and the methodologies related to fraud examination. Analyze the theories related to crime causation, the essence of crime, organizational environment conducive to crime, and ethical issues related to fraud. Examine the human factors related to corruption and how understanding these factors can facilitate the fraud prevention and deterrence process. Use technology and information resources to research issues in forensic accounting. Write clearly and concisely about forensic accounting issues using proper writing mechanics.

CONTENT:
ASSET MISAPPROPRIATION AND CORPORATE GOVERNANCE: KOSS CORPORATION.Name:Institution:Date:Introduction Evidently, asset misappropriation in corporations is not a new phenomenon as cases of fraud by senior company employees have been prevalent since 20th century. Schemes involving asset misappropriation include frauds where perpetrators employ deceit or trickery to misuse or steal corporation’s resources. In this scenario, organization’s assets are taken to benefit the individuals engaged in the frauds. Typically, individual engaged in assets misappropriation (which is a crime) are organizational employees, vendors or customers but, over 90% of cases reported were committed by employees. Asset misappropriation is characterized by taking organizational resources through deceit or trickery rather than force. Furthermore, concealment, conversion and asset theft “acts” must be present (Institute of Management Accountants, 2009).Asset misappropriation falls into two categories namely; theft of non-cash assets and theft of cash. Apparently, asset misappropriation occurs under different circumstances which range from: skimming (where fraud occur before recording in books), misuse of inventory, equipment, cash and supplies and during procurement process. Recent research by ACFE (Association of Certified Fraud Examiners) shows that the form of asset misappropriation involving cash embezzlement and fraudulent procurement (paying for purchases at over-estimated prices) are the most common and they cost U.S companies millions of dollars (Rittenberg, Johnstone&Gramling, 2012).This research paper seeks to analyze the issue of asset misappropriation and corporate governance in Koss Corporation by drawing from the case of Sujata “Sue” Sachdeva (CFO) embezzlement in 2009. The paper will evaluate the nature of asset misappropriation in Koss Corporation, examine factors that contributed to the issue and legal mechanisms followed or ought to have...


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