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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Medium Writing Assig...
When studying different religions, it is easy to see that there are many differences among them. Some things include holidays, holy books, Gods and beliefs. However, they all have things in common as...

Medium Writing Assignment 1
Medium Writing Assignment 1

When studying different religions, it is easy to s

Week 3 Discussion_16...
I think teacher and student relationship plays a significant role in the short-term and long-term development of students. The academic performance, attendance, academic test results, and behaviors of...

Week 3 Discussion
Week 3 Discussion

I think teacher and student relationship plays a s

Week 7 Discussion_16...
Kant made many ideas that are interesting which were "true and absolute". The question is "what if everyone did that?" Since we live in a world of where everyone is seeking power and trying to overcom...

Week 7 Discussion
Week 7 Discussion

Kant made many ideas that are interesting which we

Detect-Prevent Fraud on Financial Statement_Discussion 1

Detect-prevent fraud on financial statement_Discussion 1

Q Locate an interesting real-life example of fraud and discuss the following: • The case (for example, name the individual and organization involved) • Type of fraud • The scope of the fraud • The outcome of the case • The impact of an audit on the organization in your example

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The fraud case that I would like to discuss about is American Insurance Group (AIG) Scandal that occurred in the year 2005. It is a multinational corporation of insurance. Accounting fraud that took place in a massive amount of $3.9 billion was unproven together with manipulation of stock price and bid-rigging. The main player in this case was the CEO of the company named Hank Greenberg. Loans were booked by him in an alleged manner as revenue, clients were steered to insurers with whom agreements of payroll were held by AIG and traders were told to inflate prices of stock.