Schemes of fraud, Business Law and Ethics

Assignment Help:

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......"


Related Discussions:- Schemes of fraud

Notice of resignation, Notice of resignation: Regarding clause (e) abo...

Notice of resignation: Regarding clause (e) above, it was held in Latchford Premier Cinema Co. V Ennion that a verbal notice of resignation which is given to, and is accepted

Appointment by directors, APPOINTMENT BY DIRECTORS: The company first ...

APPOINTMENT BY DIRECTORS: The company first auditors of may be appointed through the directors at any time before the first annual general meeting, and auditors so appointed s

Counter - offer and death - termination of an offer, Counter - offer and De...

Counter - offer and Death - Termination of an Offer Counter - offer However a counter - offer is constituted through the offeree's qualified acceptance that in itself g

What is the major issue concerning the international law, What is the major...

What is the major issue concerning the international law The major issue concerning the international law is its implementation within the domestic system. A State can enforce

Effect of rescission, Effect Of Rescission: Where a contract of allotm...

Effect Of Rescission: Where a contract of allotment is rescinded, the former shareholder will be entitled to his money back (normally with interest) and to a refund of any exp

Ejusdem generis rule, Ejusdem generis rule: Therefore this rule states...

Ejusdem generis rule: Therefore this rule states whereas simple words in an Act obeyed particular words, the general words are to be made as being limited to the persons or th

Guide - african customary law, Guide - African Customary Law Furth...

Guide - African Customary Law Further the courts are to be "guided" through African customary law.  Conversely this provision provides a judge discretion whenever to allow

Effectiveness of challenge and appeal mechanisms, Question 1: Taking th...

Question 1: Taking the case of Mauritius, in the machinery of government, the Procurement Policy Officer is the central organ of the Government that regulates the procurement

C.i.f. contacts - import and export trade, C.I.F. Contacts - Import and Exp...

C.I.F. Contacts - Import and Export Trade Therefore a c.i.f. like cost, insurance else freight whether contract is a contract for the sale of goods for be performed through the

Law society of us, Law Society of US Establishment However it i...

Law Society of US Establishment However it is established through sec 3 of the Law Society of US Act Cap 18.  Hence it is a body corporate through the name Law Society

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd