[ad_1]
There are three (4) questions. Question one is worth 40 marks, questions two, three and four are worth 20 marks each. Answer ALL questions. Maximum word count is listed against each question part where applicable.
Question 1 – “Technology … is a queer thing. It brings you great gifts with one hand, and it stabs you in the back with the other” (Clough, 2015 p3). You should critically discuss this statement in view of how illegal online activities by criminals have transformed in the information age.
The Information Below Relates To Questions 2, 3 And 4
Ikeoz is a UK Time Management System app company that saw its market share eroded in the UK in early 2015 because of foreign competition. The management, in order to cash in on a compensation scheme that would net them £320 million pounds if Ikeoz’s share rose to more than £129 per share, developed a scheme to artificially increase revenue. Firstly, they recorded sales of goods and services that did not occur. Secondly, they recognised revenue at the wrong time and artificially inflated and altered invoices of legitimate customers.
To settle charges that included fraud, financial statement fraud and abuse of position, the Financial Conduct Authority required that Ikeoz pay a £620 million-pound civil penalty – at that time, the largest ever by a company for financial reporting violations. The Financial Conduct Authority also required that Ikeoz restate its financial statements for the years 2011 to 2014.
Question 2 – In the case of Ikeoz’s fraudulent scheme, what are the likely costs linked with financial statement fraud for both senior management and Ikeoz as a company?
Question 3 – Discuss possible factors that could motivate Ikeoz’s management to be involved in financial statement fraud.
Question 4 – Identify and discuss at least three ways financial statement fraud can be committed.
The post Discuss possible factors that could motivate Ikeoz’s management to be involved in financial statement fraud. appeared first on Scholar Writers.
[ad_2]
Source link
"96% of our customers have reported a 90% and above score. You might want to place an order with us."
