Schemes of fraud, Business Law and Ethics

Schemes of fraud:

Auditors must not be made liable for not tracking out ingenious and carefully laid schemes of fraud whenever there is nothing to arouse their suspicion, and whenever those frauds are perpetrated through  tried servants of the company and are undetected for years regards to the directors.  Therefore to hold would make the position of an auditor intolerable.....

KAY, LJ.: ".... The words of the section are "any misfeasance or breach of trust in relation to the company.... misfeasance means something other than a breach of trust...... it does not mean mere non-feasance:  RE WEDGWOOD COAL AND IRON CO...... I think the only safe interpretation to adopt is that it includes all cases other than breaches of trust in which an officer of the company has been guilty of a breach of his duty as such officer which has caused pecuniary loss to the company by misapplication of its assets, and for that in a action he might have been made liable......"

Posted Date: 1/15/2013 2:35:38 AM | Location : United States







Related Discussions:- Schemes of fraud, Assignment Help, Ask Question on Schemes of fraud, Get Answer, Expert's Help, Schemes of fraud Discussions

Write discussion on Schemes of fraud
Your posts are moderated
Related Questions
Define the term - bliss point A country's bliss point is the outcome of monetary growth rates that gives that country its highest possible level of welfare. The bliss point fo

QUESTION 1 Describe the Public Procurement Legal Framework of Mauritius QUESTION 2 Explain the following, within the meaning of the Competition Act: a. collusive agreem

Matters and Reports: The matters and reports to be stated in a prospectus may be summarised as follows: 1.      The Matters The matters to be stated in a prospectus are:

There are three main categories of international humanitarian laws: 1) The Hague conventions 2) The Geneva conventions 3) The additional protocols

Illegality - Law of Contract Therefore an agreement to constitute a legally enforceable contract then it must have been entered into to a lawful purpose.  But an agreement to

Explain UNCTOC UNCTOC identified the concept of an organized crime. A crime is termed as an "Organized Crime" when people in different countries and/or of different national

As part of this project, expert input was provided by employment law specialists Herbert Geer. Herbert Geer raised the possibility that the FWO could recover amounts lost by indivi

Question 1: (A) What do you understand by Collective Bargaining? (B) What is collective bargaining from: (I) The economic point of view

Assignments should be submitted on or before the due date. Zero mark will follow late submission of an assignment unless you have an acceptable reason approved by the instructor.

Resident Magistrate's Court Establishment Further Resident Magistrate's Court is constituted through S.3 (1) of the Magistrate's Courts Act that is provides that 'ther