Jamaica Water Properties

Jamaica Water Properties A lineament Study The case is active an score finesse that involves the Jamaica Water Properties, Inc. The maneuver was characterized by defalcation of bribe mode of report for acquisitions, arrangement fictitious assets, wrongful story for NOLCO, non-recording of take over wholeowances for uncollectible receivables, and misapplication of the percentage-of-completion method of accounting for long-run contracts. Ernest Grendi make the fraud possible, friendship CFO as helped by troika senior accountants. These were aimed to explode the price of the keep party stocks because of adenosine monophosphatelify net profit that caused them to receive muscular bonuses. However, JWP internal auditors entirely tolerated all of these because of their caution of being fired. In addition, Ernst & Young, the companys outside auditor, knowing the dishonest activities, have been outlet an unmodified opinion for six consecutive years. This has been seen as a fruit of the close relationship between Grendi and his co-conspirators with E&Y. 2011 JAMAICA urine PROPERTIES: A Case Study Jamaica Water Properties A Case Study The case is about an accounting fraud that involves the Jamaica Water Properties, Inc.

The fraud was characterized by misapplication of purchase method of accounting for acquisitions, recording fictitious assets, improper accounting for NOLCO, non-recording of appropriate allowances for uncollectible receivables, and misapplication of the percentage-of-completion method of accounting for long-term contracts. Ernest Gr endi made the fraud possible, company CFO as! helped by three senior accountants. These were aimed to inflate the price of the company stocks because of overstated earnings that caused them to receive sizable bonuses. However, JWP internal auditors just tolerated all of these because of their fear of being fired. In addition, Ernst & Young, the companys external auditor, knowing the fraudulent activities, have been...If you want to get a full essay, ordination it on our website: OrderCustomPaper.com

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