Suchergebnisse

ABSTRACT
This paper describes the implementation of a "Ponzi scheme case study" in auditing classes at the undergraduate and the Master's level. This instructional case is based on the much-publicized Madoff Ponzi scheme. The case exposes students to several auditing-related concepts, including: (1) fraud auditing; (2) ethical reasoning and utilitarian principles; (3) affinity fraud and Ponzi schemes; (4) internal control evaluation; (5) governance issues; (6) the Securities and Exchange Commission (SEC) investigations; (7) investment strategies and terminologies; and (8) regulation. The case provides students with an opportunity to assume the role of an external auditor and participate in some active learning exercises. About 170 accounting majors participated in this case project during a three-year period at a Midwestern university. Students who worked in groups were genuinely engaged in the learning process, and they came up with several red flags associated with the Madoff fraud and suggested many new internal controls. This case provides a hands-on learning experience to students that could be relevant for them in their future career in public accounting. Student opinion surveys conducted about the learning outcomes of this project indicate strong student engagement, active learning, and satisfaction.

Waste Disposal Incorporated (WDI) became a major player in both the domestic and international trash collection industries during the late 1990s by aggressively acquiring a large number of local haulers. The company also diversified into recycling, water treatment, energy, power, and lawn care. This rapid expansion initially resulted in substantial profits and a skyrocketing stock price for WDI. The financial market's desire for continued growth put intense pressure on the company to meet higher profit expectations. Increased government regulation of the waste industry and growing competition from smaller garbage haulers hindered WDI's ability to meet those expectations. When extensive cost-cutting measures failed to achieve their desired results, WDI's management turned to other strategies to keep the company at the top of the industry.
In this case, you will follow Jane Sweeny, an audit manager employed by Alfred Peterson LLP, as she completes her duties as manager of the WDI 1999 year-end audit. Included in these duties is a review of the financial records, management's accounting practices, and other relevant details of WDI's audit. The review raises some doubts about the reasonableness of WDI's financial statements in Jane's mind. Jane also discusses her concerns with Peterson's engagement partner and the WDI controller.

AbstractThe emergence of terminator technology has generally been viewed with a great deal of apprehension on account of its potential to bring far‐reaching changes in the seed industry and in long‐standing agricultural practices. This paper argues that terminator technology must be seen as an induced response to the inadequacies and weaknesses of existing intellectual property rights institutions. The technology could have a significant impact on the appropriability of returns from investment in plant breeding and consequently on the development of new plant varieties. The potential of this technology for accelerating innovations in plant breeding needs to be carefully harnessed by public policy. Copyright © 2000 John Wiley & Sons, Ltd.

This paper explores the role of regulation and legislation on influencing the development and diffusion of technologies and methods of crop production. To do this, the change in pesticide registration under European Regulation 1107/2009 'Placing Plant Protection Products on the Market' was followed through the UK's agricultural system of innovation. Fieldwork included: a series of interviews conducted with scientists, agronomists and industry organisations; a programme of visiting agricultural events; as well as sending an electronic survey to British potato growers. The innovation system is noted to have made the legislation less restrictive than originally proposed. The most notable system response to the legislation is the adjustment of agrochemical company pesticide discovery strategy and their expansion into biologically derived treatments.There have also been other innovation responses: agricultural seed companies have been breeding in pathogen resistance in their cultivars; agricultural consultancies are prepared to recommend pathogen-resistant seeds; scientists are using the change as justification for adopting their solutions; the agricultural levy boards funded research into off-label pesticide uses;and producers, potato growers in particular, have been seeking advice, but not changing their growing practices.