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Full-Text Articles in Accounting
A Close Look At Audit Standards And Best Practices How To Validate The Existence Of An Asset, Luis Lebron
A Close Look At Audit Standards And Best Practices How To Validate The Existence Of An Asset, Luis Lebron
Economic Crime Forensics Capstones
A comparative analysis will be conducted seeking to identify how to obtain sufficient evidence to determine the existence of an asset within an organization during an independent audit. The external auditor is often regarded as the “gatekeeper” of the financial markets which has a fiduciary duty to its clients. (Choy, Fields, & King, 2008) Accounting firms are required by operation of law to act in an ethical manner and have a social responsibility to protect the interest of the public. However, there exists an ongoing issue in the performance of audits by larger firms. In a recent study conducted by …
Hawala: How Extralegal Compliance Helps Bank The Unbanked, Morgan Henry
Hawala: How Extralegal Compliance Helps Bank The Unbanked, Morgan Henry
Economic Crime Forensics Capstones
Informal value transfer systems (IVTS') predate not only traditional banking systems, but the entire Western European civilization as well. Used as a reliable method to transfer value from one geographic region to another through a close-knit network of trusted individuals, IVTS' serve as an invaluable facilitator for the movement of billions of dollars across international borders without ever leaving a paper trail. The term “hawala”, which is Arabic for “transfer” or “trust”, is an IVTS that serves as a parallel banking system for those wishing to send value (often in the form of currency) overseas. Hawala has historically thrived as …