Bernard Madoff was convicted in 2009 of running a Ponzi scheme, the biggest in U.S. history. A Ponzi scheme is essentially the process of taking money from new investors on a regular basis and using the cash to pay promised returns to existing investors. The high and steady returns received by existing investors are the attraction for new investors, but they are not real returns from investments.
As long as new investors keep contributing and existing investors do not seek redemptions, or the return of their money, the scheme continues. However, eventually, as in the Madoff situation, circumstances change, the scheme is discovered, and the remaining investors find that their capital has disappeared.
At age 71, Madoff was sentenced to prison for 150 years and will die in jail. Now that Madoff is behind bars, attention has turned to Madoff's auditor, David G. Friehling. Friehling is accused of creating false and fraudulent audited financial statements for Madoff's firm, Bernard L. Madoff Investment Securities LLC. Prosecutors allege that these fraudulent reports covered the period from the early 1990s to the end of 2008.
Required
(a) Research the progress of the case against David Friehling. Write a report explaining his alleged role in the Madoff Ponzi scheme and the current (at the time you write your report) state of the legal action against him.
(b) Friehling was subject to U.S. auditing standards and legislation. Explain if, and how, Friehling's alleged actions would violate Canadian auditing standards and professional ethics.
In: Accounting
Q
4:
Tyco International Private Limited is operating in over 60
countries and claims to be the largest
designer and maker of undersea telecom equipment’s. Tyco
International is also considered as
world's largest maker and provider of electrical and electronic
components; and they are also
maker of fire protection systems and electronic security
services.
Tyco's former CEO Dennis Koslowski, former CFO Mark Swartz, and
former General Counsel
Mark Belnick were blamed of giving themselves interest free loans
that were never approved by
the Tyco board of directors. They were also accused of selling
their company stock without
informing investors. Koslowski, Swartz, and Belnick stole $600
Million from Tyco International
through their unapproved incentives.
Tyco also incorrectly accounted for certain executive bonuses they
paid, thereby excluding from
its operating expenses the costs associated with those bonuses. As
a result of these various
practices, Tyco made false and misleading statements and omissions
in its filings with the
commission and its public statements to investors and
analysts.
a. In your opinion, what was the outcome of Tyco’s misuse of funds
on professional bodies and
shareholders? What was the challenging part for SEC in
investigating this high profile scandal?
b. What would you suggest to auditing companies and Securities
Exchange Commission to take
steps to avoid such scams in future?
Your answer should be around 400 words for each question
In: Economics
Question 4. (40pts.) In a news item that appeared on the 31 January 2014 in the Guardian (an esteemed British newspaper) it is reported that in the Swiss mountain ski resort of Davos, Nestl ́e chairman Peter Brabeck addressed some criticisms pointed towards his alleged claims calling for the privatization of water:1
While Brabeck will have stoked the debate on climate change, he also sought to dampen the controversy last year in which he was accused by some NGOs of arguing for the privatisation of water and claiming is not a human right.
As a student seeking expertise in economics and having finished a serious general equilibrium course, evaluate this very question. (You could imagine that you are working in a newspaper and your editor gave that particular question for you to write about in the economics section.) Could privatization of drinkable water, hence markets, work for the human kind (even if access to drinkable water is not a “human right” as he allegedly claims)?2 Do not focus too much on whether or not this is a human rights issue, after all ours is not a law course. Evaluate whether or not his claims can be justified or trashed with the use of formal economics arguments that you have seen in this course.
I do not have to remind you that this is a serious question and I am expecting you to come up with solid arguments.
In: Economics
41-Quay, the owner of RV Park, trusts Sara to manage the resort’s daily cash flow. One night, without Quay’s knowledge or consent, Sara takes and keeps $1,000 from the receipts. This is most likely
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42-Olinda, an employee of People’s Bank, deposits into her account checks entrusted to the bank through its ATM system by customers to deposit into their accounts. This is
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43-Franny is charged with a crime. Almost all federal courts and some state courts would not hold Franny liable if, at the time of the offense, as a result of a mental disease or defect, she lacked substantial capacity to obey the law and to appreciate
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44-Quint, an employee of Reservations Inc. pays Sienna, an employee of Reservations’ competitor Travel Inc., for a list of Travel’s clients. This is most likely
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45-Lloyd is accused of a crime. Evidence of his allegedly criminal activities can be excluded from a trial
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In: Accounting
In January 2014, the Japanese airline All Nippon Airways (ANA) was forced to pull a TV advertisement after being accused of racist stereotyping by viewers. The TV commercial featured two Japanese men in ANA uniforms. They were discussing, in English with Japanese subtitles, how they could boost the image of ANA as an international airline. The punch line of the commercial saw one of them suggesting that they change the image of Japanese people. The camera then cut back to the other man, who was now wearing a blonde wig and a long rubber nose. These are stereotypical Japanese images of what Westerners look like. This is by no means the first and probably not the last time potentially racist stereotyping of Westerners has been employed in Japanese advertisements. In 2013, Toshiba featured a Japanese girl with a blonde wig and a fake nose in an advertisement for a bread maker. In 2010, Nagasaki Prefecture promoted its foreign-designed buildings with Japanese tourists wearing blonde wigs and big noses. At other times, Westerners have been portrayed as hapless visitors, a role that has not been met with viewers’ approval.
a) Westerners are comparatively rare in countries such as Japan. Is it right to portray them in this way? Explain why or why not.
b) Find other examples of marketing strategies that have employed racial stereotypes which could be considered inappropriate by viewers outside of a specific culture.
In: Operations Management
You have been given a style sheet file containing several errors. Locate all of the errors and fix the file.
1. Go to the code2-4.html file and within the head section insert link elements linking the page to the code2-4_layout.css and code2-4.css files. Review the contents of the files.
2. Test the code2-4.css file in the CSS validator at the W3C website or with another validator of your choice. Make a note of the errors reported as a guide to debugging the page. There are six syntax errors in the CSS file. Fix all six errors you discover and then submit your work.
Last Step: View the page in your browser to verify that your page resembles Figure 2–57.
Files to be fixed:
code2-4.css
@charset "utf-8";
/*
New Perspectives on HTML5 and CSS3, 8th Edition
Tutorial 2
Coding Challenge 4
Author:
Date:
Filename: code2-4.css
*/
div {
background-color: rgb(255 171 171);
padding-size: 10px;
font-size: 1.2em;
}
aside {
background-color: rgb(209,227,107);
padding: 0 20px;
}
aside h1 {
font-size: 1.9em;
font: Segoe, Verdana, sans-serif;
line-height: 0.8em;
margin: 20px 0 0 0;
}
aside h2 {
margin-top: 5px;
font-family: Segoe, Verdana, sans-serif;
font-size: 1.2e;
}
aside p {
font-size: 1.1em;
text-ident: 1em;
}
aside p:first of type {
text-indent: 0em;
}
code2-4.html
<!doctype html>
<html lang="en">
<head>
<!--
New Perspectives on HTML5 and CSS3, 8th Edition
Tutorial 2
Coding Challenge 4
Author:
Date:
Filename: code2-4.html
-->
<meta charset="utf-8">
<title>Coding Challenge 2-4</title>
</head>
<body>
<header><img src="code2-4_img.png" alt="The Sci-Fi Control Room" /></header>
<div>
<p>Welcome to the Sci-Fi Control Room</p>
<p>I started this blog in order to share my latest fiction with my
readers and to post reviews and comments on the world of Science Fiction
and Fantasy. From time to time, we'll have interviews with other
great authors in the Sci-Fi and Fantasy markets as well as give you
the inside scoop on upcoming conventions.</p>
<p>But this is also your forum to share your ideas and enthusiasm.
You can send me your comments and ideas; but please do NOT send me your
fiction. I'm not a publisher and I will NOT read them. This is the
Sci-Fi Control Room and I'm the one in control.</p>
</div>
<aside>
<h1>The Star Tunnel</h1>
<h2>by Kei Yang</h2>
<p>In her latest science-fiction novel, Yang explores the idea of
quantum tunneling and a machine built to instantly transport the rider
to the end of the universe. Teleportation is an old sci-fi concept and
one that I thought had been wrung dry. Yang has proven me wrong.
Reminiscent of the best of Niven's teleportation series stories from
the 70's, Yang is concerned, not so much with the technology of teleportation,
as much as its effect on society, morals, and religion.</p>
<p>To be sure, this is not just philosophical track masquerading as a
SF novel (though Yang's always-fascinating philosophical ruminations are
here in abundance). Fans of hard-hitting action-packed SF will have plenty
to entertain them and Yang pulls several rabbits out of her hat to
surprise any reader. I thought I knew all of the tricks of the trade
and Yang's denouement surprised even me.</p>
<p>My only complaint is that the novel begins slowly with a bit too much
emphasis on the technobabble associated with teleportation. Why do some
authors insist on turning whole chapters into a physics thesis? However
don't skip the second chapter or else you'll miss a hilarious misadventure
involving two teleportation devices and a rather annoying cat. </p>
</aside>
</body>
</html>
In: Computer Science
Adom Agencies, for many years, have relied on a single
recruitment method. That is, to advertise positions in
the Daily Graphic. Advertisements were placed in this publication
one time, and interested candidates were
instructed to contact the company to request an application
package. The application package included a letter
detailing how to apply for the job; a brochure about the company;
an application form; and a copy of the
company’s development plan for the next three years. Other local
companies in the area also used the Daily
Graphic for recruitment, but in addition, they placed
advertisements in other local newspapers as well as on a
web site for their vacancies. Some even launched a page on their
organisation’s web site to enable candidates
to download all of the application information.
As part of the selection process, candidates submitted an
application form along with contact information for
two people who could provide references, and returned the
information to the appropriate department head.
Once the closing date had passed, designated staff members reviewed
the applications independently and graded
them A, B or C (where A is the highest mark and C is the lowest)
based on the candidate’s ability to meet the
selection criteria. The panel would then convene to discuss the
A-rated application forms and agree on a list of
candidates who would be invited to attend a selection day. The
staff members assessing the applications were
usually heads of departments from the relevant subject area.
Training was not offered to panel members to help
them to select the best candidates. Before the selection day,
references would be requested for all candidates.
Copies of the references would be provided to interview panel
members; employment offers were based on the
receipt of satisfactory references.
The agenda for the selection shows that the organization relied on
two selection methods for all of their
vacancies—an informal and formal interview. The first (informal)
interview was led by the Chief Executive
Officer (CEO) and an administrator. This was used to learn basic
information about the candidate and to review
the information on the application form. The second interview was
more detailed and explored a wide range of
issues with the candidates. The panel consisted of the CEO, HR
manager, Head of Department and a Senior
Officer. Due to time constraints, panel members were usually unable
to meet in advance, so they developed
their interview questions independently. Although the CEO chaired
the interviews, they were rarely carried out
in the same manner and the questions lacked a high level of
consistency. Also, no formal scoring system was
used. At the end of the interviews, there was a panel vote to see
which candidate should be offered the job. This
often led to a heated debate about candidate strengths and
weaknesses.
Required:
a. Suggest two (2) alternative sources of recruitment that will
ensure that the best candidates are recruited.
Please explain your choices.
b. Judging from the case, in what ways can the selection process be
improved?
c. Discuss five (5) biases you can identify about the selection
process of Adom Agencies.
In: Economics
CASE STUDY
Adom Agencies, for many years, have relied on a single recruitment
method. That is, to advertise positions in
the Daily Graphic. Advertisements were placed in this publication
one time, and interested candidates were
instructed to contact the company to request an application
package. The application package included a letter
detailing how to apply for the job; a brochure about the company;
an application form; and a copy of the
company’s development plan for the next three years. Other local
companies in the area also used the Daily
Graphic for recruitment, but in addition, they placed
advertisements in other local newspapers as well as on a
web site for their vacancies. Some even launched a page on their
organisation’s web site to enable candidates
to download all of the application information.
As part of the selection process, candidates submitted an
application form along with contact information for
two people who could provide references, and returned the
information to the appropriate department head.
Once the closing date had passed, designated staff members reviewed
the applications independently and graded
them A, B or C (where A is the highest mark and C is the lowest)
based on the candidate’s ability to meet the
selection criteria. The panel would then convene to discuss the
A-rated application forms and agree on a list of
candidates who would be invited to attend a selection day. The
staff members assessing the applications were
usually heads of departments from the relevant subject area.
Training was not offered to panel members to help
them to select the best candidates. Before the selection day,
references would be requested for all candidates.
Copies of the references would be provided to interview panel
members; employment offers were based on the
receipt of satisfactory references.
The agenda for the selection shows that the organization relied on
two selection methods for all of their
vacancies—an informal and formal interview. The first (informal)
interview was led by the Chief Executive
Officer (CEO) and an administrator. This was used to learn basic
information about the candidate and to review
the information on the application form. The second interview was
more detailed and explored a wide range of
issues with the candidates. The panel consisted of the CEO, HR
manager, Head of Department and a Senior
Officer. Due to time constraints, panel members were usually unable
to meet in advance, so they developed
their interview questions independently. Although the CEO chaired
the interviews, they were rarely carried out
in the same manner and the questions lacked a high level of
consistency. Also, no formal scoring system was
used. At the end of the interviews, there was a panel vote to see
which candidate should be offered the job. This
often led to a heated debate about candidate strengths and
weaknesses.
Required:
a. Suggest two (2) alternative sources of recruitment that will
ensure that the best candidates are recruited.
Please explain your choices. [5 Marks]
b. Judging from the case, in what ways can the selection process be
improved? [10 Marks]
c. Discuss five (5) biases you can identify about the selection
process of Adom Agencies.
[5 Marks]
In: Accounting
JAVA
Write a program that checks the spelling of words in a document. This program uses two text files:
As the document to be spell checked is read, each of its words is checked against the dictionary words. The program determines whether each word
The program outputs
Objectives
At the end of this program the student will demonstrate the ability to write a program that:
Sample Execution
Running a correct program using the SIL dictionary and the Bill of Rights, the following is output:
most frequent words
[the]
frequency 40
[the]
frequency 24
[of]
frequency 22
[to]
frequency 20
[be]
frequency 18
[in]
frequency 17
[shall]
frequency 15
[or]
frequency 14
[and]
frequency 10
[a, amendment]
frequency 9
[by]
frequency 8
[nor]
frequency 6
[for, law]
frequency 5
[no, not, people, right]
frequency 4
[any, have, jury, states]
frequency 3
[against, public, time, without]
frequency 2
[an, been, but, cause, common, constitution, crime, criminal, district, excessive, free, his, life, militia, otherwise, person, persons, process, property, state, trial, united, war, witnesses]
frequency 1
[abridging, according, accusation, accused, actual, affirmation, all, answer, are, arising, arms, ascertained, assemble, assistance, at, bail, bear, being, capital, case, cases, certain, committed, compelled, compensation, compulsory, confronted, congress, consent, construed, controversy, counsel, court, cruel, danger, defence, delegated, deny, deprived, describing, disparage, dollars, due, effects, enjoy, enumeration, establishment, exceed, except, exercise, fact, favor, fines, forces, freedom, government, grand, grievances, held, him, himself, house, houses, ii, iii, impartial, imposed, indictment, infamous, inflicted, informed, infringed, issue, it, iv, jeopardy, just, keep, land, liberty, limb, make, manner, nature, naval, necessary, oath, obtaining, offense, on, others, owner, papers, particularly, peace, peaceably, petition, place, powers, prescribed, presentment, preserved, press, previously, private, probable, prohibited, prohibiting, prosecutions, punishments, put, quartered, redress, reexamined, regulated, religion, required, reserved, respecting, respectively, retained, rights, rules, same, searched, searches, secure, security, seized, seizures, service, soldier, speech, speedy, subject, suits, supported, taken, than, their, thereof, things, tried, twenty, twice, unless, unreasonable, unusual, upon, use, value, violated, warrants, well, when, where, wherein, which, with, witness]
misspelled words
[I, IX, V, VI, VII, VIII, X]
In: Computer Science
1. What are the differences between bulk deformation processes and sheet metal processes? 2. Extrusion is a fundamental shaping process. Describe it. 3. Why is the term press working often used for sheet metal processes? 4. What is the difference between deep drawing and bar drawing? 5. Indicate the mathematical equation for the flow curve. 6. How does increasing temperature affect the parameters in the flow curve equation? 7. Indicate some of the advantages of cold working relative to warm and hot working. 8. What is isothermal forming? 9. Describe the effect of strain rate in metal forming. 10. Why is friction generally undesirable in metal forming operations? 11. What is sticking friction in metalworking?
In: Mechanical Engineering