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1
Aladwan, Zaid. "The implementation of the fraud exception rule: a comparative study." Journal of Financial Crime 27, no. 3 (May 25, 2020): 977–93. http://dx.doi.org/10.1108/jfc-02-2020-0016.
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Purpose The purpose of this paper is to examine the application of the fraud exception rule and try to analyze the different approaches in regard to the implication of fraud rule in letters of credit. Further, this paper tries to explore if there is an obstacle when applying such exception rule in common law and whether there is an overlap with interpreting the said rule. The same fact appears in civil law courts as well. Design/methodology/approach This paper is a comparative study which uses analytical approach and critical legal thinking. Findings The scope of the fraud defence, the US legal systems demonstrate that the scope of the fraud rule is extended and covers both fraud in documents and fraud in the underlying contract, while in contrast, in UK the rule’s scope is restricted to fraud in documents only. Such an approach is reasonable, as it is justified by applying the Uniform Customs and Practice for Documentary Credits (UCP) rules strictly. That is to say, English courts apply the rules literally, even if it does not lead to fair judgements, while in contrast, American courts seek to enforce justice even if it goes beyond the rules. In any case, restricting the fraud exception to fraud in the documents is the proper approach. The reason for such restriction, on the one hand, is to maintain the integrity of letters of credit and, on the other hand, to affirm the autonomy principle. Originality/value Extending the scope of the fraud defence will require banks to go beyond the documents, which is not logical. Banks are neither expert in such transactions nor required to do so. Most importantly, banks are concerned with documents only; it is for the court to go beyond the documents. Although this approach could be criticized, it is important to ensure that the validity of the documentary credit instrument is not compromised. As established by academics, any argument need not engage the bank unless it is in respect of the presented documents. In short, “pay now, argue later” is paramount to distinguish parties’ litigations from banks vs parties’ litigations. In any case, it can be suggested that extending the fraud rule exception to include fraud in the underlying contract from Jordan perspective is not the proper one because it is necessary to maintain the integrity of letters of credit and to affirm the autonomy principle.
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Newbold, A. L. E. "The Crime/Fraud Exception to Legal Professional Privilege." Modern Law Review 53, no. 4 (July 1990): 472–84. http://dx.doi.org/10.1111/j.1468-2230.1990.tb02829.x.
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Bernstein, Adam. "The small matter of fraud." Nursing and Residential Care 22, no. 10 (October 2, 2020): 1–4. http://dx.doi.org/10.12968/nrec.2020.22.10.10.
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Zeigler, Luther. "The Fraud Exception to Discharge in Bankruptcy: A Reappraisal." Stanford Law Review 38, no. 3 (February 1986): 891. http://dx.doi.org/10.2307/1228567.
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Payne, Jennifer. "Lifting the Corporate Veil: A Reassessment of the Fraud Exception." Cambridge Law Journal 56, no. 2 (July 1997): 284–90. http://dx.doi.org/10.1017/s0008197300081320.
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If students of company law know just one case, that case will be Salomon v. A. Salomon & Co. Ltd. which firmly established the English law principle that a company is a legal person entirely separate and distinct from the members ofthat company. It is trite law that a rather hefty veil is drawn between these two that can be lifted only in a limited number of circumstances that seem to fluctuate according to current judicial thinking. However, it “is well established that the courts will not allow the corporate form to be used for the purposes of fraud or as a device to evade a contractual or other legal obligation”, a principle which is referred to hereafter as the “fraud exception” to the Salomon principle.
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Ding, Yeming, and Bruno Zeller. "The fraud exception in letters of credit – the Chinese approach." International Review of Law 2017, no. 3 (July 2017): 13. http://dx.doi.org/10.5339/irl.2017.13.
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Hooley, Richard. "FRAUD AND LETTERS OF CREDIT: IS THERE A NULLITY EXCEPTION?" Cambridge Law Journal 61, no. 2 (June 24, 2002): 239–94. http://dx.doi.org/10.1017/s000819730233160x.
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Despite the absence of fraud on the part of the beneficiary of a letter of credit, is the issuing or confirming bank entitled to refuse to pay the beneficiary on the ground that a tendered document is a “nullity” in the sense that it was forged by a third party or has been executed without the authority of the person by whom it purports to be issued?
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Odeke, Ademuni. "The Judicial Approach to Injunctions in Letters of Credit and Performance Bond Transactions: The Fraud Exception Re-examined." Denning Law Journal 10, no. 1 (November 16, 2012): 35–65. http://dx.doi.org/10.5750/dlj.v10i1.250.
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Richards, Katie. "Revisiting the fraud exception: a critique of United City Merchants v Royal Bank of Canada 40 years on." Legal Studies 39, no. 4 (July 11, 2019): 656–75. http://dx.doi.org/10.1017/lst.2019.6.
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AbstractMuch has changed in the four decades since United City Merchants v Royal Bank of Canada, in which Lord Diplock established the fraud exception in transactions financed by documentary credit. In particular, the introduction of the UCP 600, case law on nullity documents and amendment to the American fraud exception justify a reconsideration of both the policy arguments underpinning Lord Diplock's rule and the fate of documents known to be forged or null at the time of presentation. Accordingly, two arguments are made in this paper. First, a consideration of the broader exception in the US should prompt a modern Supreme Court to re-examine his Lordship's insistence that a narrow exception was required to preserve the efficiency of the credit mechanism. In addition, it further argues that banks should be entitled to reject known nullities and forgeries as non-complying. This argument would reinstate the doctrine of strict compliance, which was overlooked in United City Merchants, and is based on the clarified definitions in the UCP 600, more recent judicial consideration of nullities and the existence of the ICC's International Maritime Bureau.
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Bui, Linh Le Thuc. "Independence principle and its exception in letter of credit law: Suggestions for Vietnam." Science & Technology Development Journal - Economics - Law and Management 4, no. 4 (October 4, 2020): First. http://dx.doi.org/10.32508/stdjelm.v4i4.591.
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Even though the letter of credit was invented from a long time ago, however, its legal personalities are very new to the Vietnam Legal Framework. The International Chamber of Commerce (``ICC'') has issued principles for the documentary credit which is the Uniform of Customs and Practice (``UCP'') since 1933 and kept updating it until now, the latest version of UCP is UCP 600 which is presented in 2007. However, the UCP has not systematized many aspects of documentary credit yet and ICC considered those problems as subjects of domestic regulations. The diversification in different national laws leads to confusion thus causing many problems to merchants in international trade. Some countries do not have specified codifications to regulate the letter of credit so these countries treat UCP as ``quasi-law'' while other countries have their own legal framework for letter of credit law and even have fraud rules included. It is quite interesting that the United States which is a common law country is the first country to embody the operation of letter of credit in the Uniform of Commercial Code (``UCC'') and regulates the fraud rule within the same Code. This paper will try to explain and compare the principle of independence in the UCP and UCC, clarify the definition and regulations of fraud rule in UCC and evaluate the legal regulations of Vietnam law for the independence principle in a letter of credit.
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Rein, Frederick H., and Joseph B. Crystal. "Unigene Laboratories, Inc. et al. v. Apotex, Inc. et al.: Reformulating an old drug is not as obvious as one might think." Journal of Generic Medicines: The Business Journal for the Generic Medicines Sector 9, no. 1 (March 2012): 36–44. http://dx.doi.org/10.1177/1741134311433733.
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In Unigene Laboratories, Inc. et al. v. Apotex, Inc. et al., 655 F.3d 1352 (Fed. Cir. 2011), the Federal Circuit addressed issues of obviousness and the crime fraud exception to privilege. The Federal Circuit affirmed the District Court's denial of summary judgment of obviousness and its grant of summary judgment of nonobviousness. In addition, the Federal Circuit found that the District Court had properly found that documents had not been improperly withheld based on the crime-fraud exception and that additional theories of inequitable conduct raised by Apotex at later stages of the litigation had either been previously addressed by the District Court or had been waived. This case report presents the arguments made at the District Court and Federal Circuit and how each of these courts addressed the issues raised by the parties.
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Odeke, Ademuni. "DOUBLE INVOICING IN INTERNATIONAL TRADE: THE FRAUD AND NULLITY EXCEPTIONS IN LETTERS OF CREDIT – ARE THE AMERICA ACCORD AND THE UCP 500 CROOKS’ CHARTERS!?" Denning Law Journal 18, no. 1 (November 23, 2012): 115–56. http://dx.doi.org/10.5750/dlj.v18i1.310.
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This article: First, (a) re-examines the fraud exception rule in letters of credit transactions with specific reference to the United City Merchants v Royal Bank of Canada (the American Accord) and against the background of a recent commonwealth decision accepting nullity as a new exception; (b) evaluates its impact on over/under invoicing under the WTO Agreement on Pre-shipment Inspection of Goods in International Trade (PSI); and (c) assesses its implication on the IMF Agreement on Exchange Control implemented in the UK by the IMF Agreement Regulations 1946 made under the IMF Agreement Acts 1945 as amended. Secondly, it argues that the current UCP 500 is outmoded and inadequate to meet current needs and is therefore in need of urgent revision. Thirdly, it recommends, inter alia, that in accordance with the said commonwealth decision, fraud by third parties should be recognised by English law as an independent and separate nullity exception. Fourth, and finally, it concludes that the status-quo acts as an unwitting Crooks’ Charter for money launderers, documentary fraudsters and other white collar crimes.
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Humin, Oleksiy, Viktoriia Zarubei, and Olha Rymarchuk. "CONCERNING THE NEED FOR IMPROVEMENT OF THE METHODOLOGY OF INVESTIGATING FRAUDS AND DEVELOPMENT OF METHODS OF INVESTIGATION OF ITS INDIVIDUAL TYPES." Baltic Journal of Economic Studies 4, no. 5 (February 11, 2019): 63. http://dx.doi.org/10.30525/2256-0742/2018-4-5-63-66.
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Nowadays in a difficult economic situation, frauds have become widespread in Ukraine in various spheres of human life. Increase in the number and quality of such crimes leads to significant losses of financial resources not only of citizens but of the state as a whole. Therefore, an important issue for our nowadays is the study of the mechanism of rapid, complete, and effective investigation and prevention of such crimes. In Ukraine, there is an active awareness of the population about the ways of committing such crimes and creating measures to protect confidential information. However, official statistics show a significant amount of fraud and an insufficient level of their disclosure. One of the reasons is the obsolete methods of investigating fraud and the lack of methods for investigating certain types of it. The aim of the article is to analyse scientific research in order to establish a level of methodological support for law enforcement agencies in investigating fraud. Due to the fact that methodological provision of practical divisions plays the leading role in the fast, full, and effective investigation of frauds, therefore, the studied question deserves a special attention. Methodology. The author substantiates the need to improve the existing methodological recommendations because since over time they lose their content. Besides, there is the necessity to create new techniques that are not reflected in the writings of scientists in investigating various types of fraud. Based on the analysis of forensic literature, we can make a conclusion that most of the scientific works are devoted to the investigation of fraud with financial resources. Therefore, the author proposes to pay attention to other types of fraud and to formulate methodological recommendations for practical units to young and experienced scientists on the basis of their own research. Results. The concepts and types of fraud are defined in the article. Besides, the works of criminologists, which are devoted to the peculiarities of investigating such types of crimes, are analysed. The official statistics, which impresses with data on undisclosed fraud, are presented here. This once again confirms the necessity for scientific development of the mentioned problem. A particular attention is paid to the lack of proper methodological support for practical units during the investigation of such types of crimes. In this regard, the author provides corresponding suggestions that will help to improve the investigation. Practical impact. Since the fraud investigation technique helps to the most successful achievement of the objectives of criminal justice, then in order to reduce the number of undisclosed crimes, it is necessary to develop and provide practical guidance to the methodical recommendations in a timely manner. Correlation/originality. The urgent issue of nowadays is a complete, effective investigation of criminal offenses, and fraud is no exception. The improvement of the methodology for fraud investigations and the development of methods for investigating certain types of fraud is a necessary step for it.
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Alavi, Hamed. "Autonomy Principle and Fraud Exception in Documentary Letters of Credit, a Comparative Study between United States and England." International and Comparative Law Review 15, no. 2 (December 1, 2015): 47–68. http://dx.doi.org/10.1515/iclr-2016-0035.
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Abstract Despite the fact that Documentary Letters of Credit are involved in process of International Trade for many centuries, but their legal personality is very new and their life span is much shorter than their existence. In the middle of Eightieth Century, Lord Mansfield introduced legal aspects of LC operation for the first time to the Common Law System. Later, International Chamber of Commerce started to codified regulations regarding international operation of Documentary Letters of Credit in 1933 under the title of Uniform Customs and Practices for Documentary Letters of Credit and updated them constantly up to current date. However, many aspects of LC operation including fraud are not codified under the UCP which subjects them to national laws. Diversified nature of National Laws in different countries can be source of confusion and problem for many businessmen active in international operation of Documentary Letters of Credit. Such differences are more problematic in Common Law countries as a result of following precedent. For Example, legal aspects of International LC transactions under British Law are only based on case law, however, American Law addresses Letter of Credit Operation under Article 5 of Unified Commercial Code. Due to important role of English and American law in practice of international trade, current paper will try to compare their approach to autonomy principle of in LC operation, fraud rule as a recognized exception to it and search for answer to following questions what is definition of fraud, and what are standards of proof for fraud in LC operation, under English and American law?
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Cheolsoo Kim and 이양기. "Exception Rule Relating to the Fraud and Forgery Documents in Letter of Credit." Journal of International Trade & Commerce 10, no. 2 (April 2014): 383–401. http://dx.doi.org/10.16980/jitc.10.2.201404.383.
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Ha, Hyun-Soo. "A Study on Application Exception of Fraud Rule in Chinese Letter of Credit." Journal of Korea Research Association of International Commerce 17, no. 4 (August 31, 2017): 113–33. http://dx.doi.org/10.29331/jkraic.2017.08.17.4.113.
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Davis, Daniel J. "The Fraud Exception to the Noerr-Pennington Doctrine in Judicial and Administrative Proceedings." University of Chicago Law Review 69, no. 1 (2002): 325. http://dx.doi.org/10.2307/1600356.
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이종원. "A Study on Fraud Countermeasure and Fraud Exception under the L/C transaction -Focused on UCC§5-114(2) and UCC§5-109-." KOREA INTERNATIONAL COMMERCIAL REVIEW 22, no. 2 (June 2007): 149–64. http://dx.doi.org/10.18104/kaic.22.2.200706.149.
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Munby, Thomas. "Fraud exception to privilege: Addlesee & Ors v Dentons Europe LLP [2020] EWHC 238 (Ch)." Trusts & Trustees 26, no. 5 (June 1, 2020): 409–13. http://dx.doi.org/10.1093/tandt/ttaa034.
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Abstract Some months after Addlesee & Ors v Dentons Europe LLP produced an important judgment of the Court of Appeal in relation to the statue of legal professional privilege following the dissolution of a corporate client,1 the same litigation has given rise to a judgment addressing another area of the law of privilege.
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Sullivan, G. R. "Restating the Scope of the Derivative Action." Cambridge Law Journal 44, no. 2 (July 1985): 236–55. http://dx.doi.org/10.1017/s0008197300115387.
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By equitable concession a shareholder may bring a representative action, ostensibly on behalf of himself and fellow shareholders, but in reality for the company, to permit corporate recovery against persons in a position of control who have perpetrated a fraud on the company. Such “derivative” actions form an exception to the axiom, expressed as one aspect of the rule in Foss v. Harbottle, that in matters of corporate recovery the proper plaintiff is the company itself.
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Chae, Jin-Ik. "A Study on the Issues and Implications for Application of Fraud Exception in Bank Guarantee Transactions." Korea International Trade Research Institute 15, no. 1 (February 25, 2019): 199–215. http://dx.doi.org/10.16980/jitc.15.1.201902.199.
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Akomea-Frimpong, Isaac, Charles Andoh, Agnes Akomea-Frimpong, and Yvonne Dwomoh-Okudzeto. "Control of fraud on mobile money services in Ghana: an exploratory study." Journal of Money Laundering Control 22, no. 2 (May 7, 2019): 300–317. http://dx.doi.org/10.1108/jmlc-03-2018-0023.
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Purpose Fraud is a global economic menace which threatens the survival of individuals, firms, industries and economies, and the mobile money service is no exception. This paper aims to explore the main causes of fraud in the mobile money services in Ghana and the measures to combat the menace by the key stakeholders connected to the mobile money services. The paper is motivated by recent reports of numerous fraudulent transactions on the mobile money platform, and the need to clamp down these nefarious transactions with effective and practical measures to sustain the service. Design/methodology/approach A thorough review of existing studies on fraud risk relating to mobile money services was done revealing a paucity of literature on the subject. Primary data were gathered using an interview guide to explore the magnitude of the problem based on the views of employees of mobile money operators, mobile money agents, banking supervisors from Bank of Ghana, employees of partnering banks, employees of National Communications Authority and mobile money subscribers. Findings The study revealed that fraud in mobile money services is caused by weak internal controls and systems, lack of sophisticated information technology tools to detect the menace, inadequate education and training and the poor remuneration of employees. These factors disrupt the growth, and the smooth-running of the services. To curb this menace, a detailed legal code and internal fraud policy should be developed and used by mobile money operators and partner banks. Adequate training for mobile money agents should be encouraged coupled with public awareness campaigns to educate stakeholders especially the mobile money subscribers on the tricks of the fraudsters. Research limitations/implications With the chosen research methodology and limited sample size, the findings may not reflect the views of all the stakeholders connected to the mobile money services. Therefore, future studies on this subject are entreated to use research methods which embrace larger samples to get more details about this menace. Practical implications The study will assist in tackling the mobile money fraud to sustain the service in the foreseeable future. Originality/value This paper contributes to scanty literature on fraud relating to the mobile money services by drawing lessons from a middle-income country.
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Cheolsoo Kim. "A Study on Application of China's L/C Fraud Exception Rules - Focused on SPC's Judicial Interpretation in China -." Journal of International Trade & Commerce 10, no. 5 (October 2014): 271–87. http://dx.doi.org/10.16980/jitc.10.5.201410.271.
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Kim, Dongsung, Kitae Kim, Jongwoo Kim, and Steve Park. "A Study on the Application of Outlier Analysis for Fraud Detection: Focused on Transactions of Auction Exception Agricultural Products." Journal of Intelligence and Information Systems 20, no. 3 (September 30, 2014): 93–108. http://dx.doi.org/10.13088/jiis.2014.20.3.093.
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Stürmer, Stefan, Aileen Oeberst, Roman Trötschel, and Oliver Decker. "Early-Career Researchers’ Perceptions of the Prevalence of Questionable Research Practices, Potential Causes, and Open Science." Social Psychology 48, no. 6 (November 2017): 365–71. http://dx.doi.org/10.1027/1864-9335/a000324.
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Abstract. Young researchers of today will shape the field in the future. In light of current debates about social psychology’s research culture, this exploratory survey assessed early-career researchers’ beliefs (N = 88) about the prevalence of questionable research practices (QRPs), potential causes, and open science as a possible solution. While there was relative consensus that outright fraud is an exception, a majority of participants believed that some QRPs are moderately to highly prevalent what they attributed primarily to academic incentive structures. A majority of participants felt that open science is necessary to improve research practice. They indicated to consider some open science recommendations in the future, but they also indicated some reluctance. Limitation and implications of these findings are discussed.
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Zhang, Ruiqiao. "Study of the fraud exception rule in letters of credit in China and proposed amendments to the Chinese credit system." International Journal of Private Law 7, no. 4 (2014): 328. http://dx.doi.org/10.1504/ijpl.2014.064926.
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Grimaldi, Francesco. "Ownership structure and turnaround processes: Evidences from Italian listed companies." Corporate Ownership and Control 14, no. 1 (2016): 117–27. http://dx.doi.org/10.22495/cocv14i1p11.
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The aim of this research is to investigate the relationship between ownership structures and turnaround processes in the Italian context. In fact, with the exception of the analysis of individual business cases - relating to incidents of fraud, bankruptcy and failure to rehabilitate the business, it does not seem to have been made, at the time, specific theoretical and empirical studies on the relationship between ownership structure and processes turnaround / crisis in Italian listed companies, in which the reference model is the family business, even in large companies. This research does not extend the results obtained from studies conducted in different contexts outright to Italian companies, but considers the peculiarities of the Italian model of corporate governance, characterized by concentrated ownership structure, by the low proportion of banks and institutional investors and the conflict of interests between shareholders control and minority shareholders
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Uzdavines, Marilyn. "The Great American Health Care System and the Dire Need for Change." Texas A&M Law Review 7, no. 3 (May 2020): 573–612. http://dx.doi.org/10.37419/lr.v7.i3.3.
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Health care reform is one of the hottest topics in America. One need look no further than this year’s election cycle to see that health care reform was one of the main platforms for nearly every candidate for the 2020 election. Why is this the case? Healthcare costs amount to 17.9% of the overall Gross Domestic Product (“GDP”). This figure is shockingly high, especially when compared to health care costs of similarly situated countries. As it currently stands, the United States ranks at the top of per capita health care spending. Therefore, it should sadden the soul of our nation that our health care outcomes are among the lowest in the world. In addition to this cost inefficiency and ineffective care, millions of Americans are without affordable health insurance options. Emergency rooms have become the only option for medical treatment, which has exacerbated the rising costs of health care. Every person, whether directly or indirectly, is affected by health care costs. Solving this problem will take a multifaceted approach, and there are countless opinions on the best strategy to correct the direction of American health care. One approach that has gained popularity with health-industry stakeholders and regulators alike is value-based payment reform. Value-based payment models encourage integration and coordination of care across all levels of participation in the care team. Instead of a traditional fee-for-service payment model, the value-based payment models incentivize collaboration by the sharing of savings or increased profits with the healthcare team. The healthcare team realizes incentive-based payments only if there is accompanying proof that the patient care is improving while saving the federal program money. While there have been a handful of limited opportunities for this type of collaboration among providers, this program has not been widely adopted due to regulatory barriers that have impeded this type of reform. Health care fraud and abuse laws are one of the main barriers that limit the business arrangements and financial relationships that exist between hospitals, physicians, and other health care service providers, thus limiting new payment options to support a value-based payment model. The Anti-Kickback Statute (“AKS”), the Physician Self-Referral Law, and the False Claims Act (“FCA”) are three of the main health care fraud and abuse laws that are used to deter fraudsters from abusing Medicare and Medicaid programs. The AKS statute prohibits the payment or receipt of remuneration in exchange for health care referrals. The Physician Self-Referral Law, also known as the “Stark law” (“Stark”), prohibits a physician from referring patients for a designated health service to an entity that has a financial relationship with the physician or one of the physician’s immediate family members. The FCA is used to bring a claim against a person who submits a false or fraudulent bill to the government for reimbursement. These three laws work in tandem to prevent fraud and abuse of the Medicare and Medicaid programs. Alleged violations of the AKS and the Stark law are often litigated through the use of the FCA, which allows for qui tam actions. While these laws serve an essential role in protect- ing patients from unnecessary medical treatment, overutilization of services, unfair competition, and general abuse of the federal programs, these laws are also blocking innovation in health care required to address the need for alternative models for health care delivery and payment. Additionally, compliance with these health care fraud and abuse laws is often difficult, even for the well-meaning who in good faith attempt to understand the requirements under the law. Numerous regulations and interpretive laws have been created in an effort to clarify how to implement and interpret these fraud and abuse laws. Guidance from both the Centers for Medicare and Medicaid Services (“CMS”) and the Office of Inspector General (“OIG”) has been very limited due to the relatively small number of advisory opinions issued over the years. Moreover, there is evidence that the guidance has been misused by the Department of Justice (“DOJ”). There is scant case law on many of the possible health care arrangements because stakeholders either shy away from entering into these arrangements for fear of violating a vague and ambiguous rule, or they settle with the DOJ to avoid litigation for fear of ruinous financial consequences of fighting the government. The law must be reformed to provide clarity and opportunity for innovation. As health care has dramatically evolved over the last three decades, so must the laws that were meant to prevent abuse in the health care system. Laws that were once relevant based on the traditional payment models are now largely irrelevant and an impediment to necessary change that will improve health care costs and outcomes. Due to the incredibly complex and numerous business relationships that exist in any given health care system, initiating change will be difficult. However, one approach that will alleviate the stress on hospitals and providers is to reform the Stark law to create an exception for value-based payment models, as well as to provide clarity for language currently included in the Stark law. I contend that these regulatory changes would enable hospitals and providers to create new arrangements that would focus on patient care, unobstructed by the myriad regulations that have prevented this type of collaboration. In Part II of this Article, I will examine the United States’ health care crisis and how it led to increased enforcement of the fraud and abuse laws that help deter the abuse in the system. Part III will center on the analysis of the fraud and abuse laws mentioned above and on how these laws work together to help prevent fraud in health care. In Part IV of this Article, I will discuss several necessary changes to the Stark law to help correct the direction of our health care spending and outcomes. I propose that a value-based exception be added to the current exceptions, as well as discuss the need for clarity of several critical terms to understand how to comply with the Stark exceptions. Additionally, I propose that the rules regarding advisory opinions should be amended to provide more guidance to the health care industry on these complicated issues. These changes, I contend, will relieve the barriers that are blocking the health care industry from making transformative changes and meeting the goal of higher quality care and increased efficiency.
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Taylor, James. "‘Distrust all Advice … and Make No Exception in Favour of our Advice’: Financial Knowledge and Knowingness in Late Victorian Britain." English Historical Review 136, no. 580 (June 1, 2021): 619–50. http://dx.doi.org/10.1093/ehr/ceab111.
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Abstract Over the past two decades, our understanding of the development of financial markets in the nineteenth century has been transformed by scholars working in two broad areas. Economic sociologists and literary scholars have explored the discursive underpinnings of the institutions of modern finance, deftly tracing the ways in which stock markets were legitimised through a growing association with science and statistics, and a simultaneous distancing from gambling and chance. From a very different perspective, quantitative analysis of shareholder registers and other archival records by economic historians and historical geographers has provided rich data giving a more precise picture of who invested and what they invested in. Valuable though this work has been, the gulf between the two approaches has resulted in a dearth of empirically grounded studies of the social and cultural dimensions of investment. An area particularly in need of greater exploration is the booming late Victorian print culture which purported to explain finance to new investors. This article offers a close reading of the financial journalism of Henry Labouchere, better known for his subsequent political career as a Liberal MP. Labouchere’s writings are deliberately riddled with contradictions, simultaneously legitimising and questioning the stock market, and switching between the roles of moral crusader and self-interested speculator. This carefully crafted performance encouraged an attitude of ‘knowingness’ towards finance among his readers which helps to explain why the stock market was able to grow in popularity even when it remained so closely associated with fraud.
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Alavi, Hamed. "Contractual Restrictions on Right of Beneficiary to Draw on a Letter of Credit; Possible Exception to Principle of Autonomy." International and Comparative Law Review 16, no. 2 (December 1, 2016): 67–86. http://dx.doi.org/10.1515/iclr-2016-0015.
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Summary In some circumstances and despite having right to draw under the Letter of Credit, beneficiary agrees in underlying contract that he would not exercise his right before realization of certain conditions stipulated in the contract or any other agreement with applicant. Despite the fact that the instrument itself (documentary letters of credit and bank guarantees) entitles beneficiary for being paid upon presentation of complying documents, making such commitment will impose restrictions on beneficiary within the framework of underlying contract and creates different scenarios that raises respective questions. First scenario would be that beneficiary fulfills his commitments in underlying contract and receives payment under the credit and there will be no dispute between parties. Second scenario is where beneficiary presents complying documents to bank and demands for being paid the amount stipulated in the credit despite existence of an ongoing dispute with applicant regarding his performance in underling contract. Here, it will be a valid question if we ask whether or not breach of such restrictions by beneficiary will influence principle of autonomy? Consecutive question would be, shall the court consider beneficiary’s violation of his restrictive commitment in underlying contract as a new exception to principle of autonomy? To put it in different way, where beneficiary of documentary letters of credit or demand guarantee regardless of his awareness from independence of underlying contract from the credit commits in underlying contract to condition which restricts his right to draw on the credit; will he be allowed by court to rely on the principle of autonomy to neglect his commitment in underling contract? In short, should law recognize other exception in addition to fraud which is in accordance with limits imposed by underlying contract on beneficiary’s right to draw on the credit? In quest of answering above mentioned questions, this paper will be divided into six main parts. After the introduction, second part will describe nature of documentary leers of credit and principle of autonomy. Third part will analyse the nature of exception while fourth one will look at approach of different jurisdictions to this issue. Fifth part will provide different arguments in favour and against recognition of “underlying contract exception”1 and finally last part provides concluding remarks on the subject matter.
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Fassberg, Celia Wasserstein. "Rule and Reason in the Common Law of Foreign Judgments." Canadian Journal of Law & Jurisprudence 12, no. 2 (July 1999): 193–221. http://dx.doi.org/10.1017/s0841820900002228.
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Two tenets are central to the Common Law rules for enforcement and recognition of foreign judgments. The first is that, subject to public policy, the enforcing court does not review the substance of the decision; in other words, mistake is no defence. The second is that, apart from ensuring that the judgment was not obtained by fraud or through a breach of the requirements of natural justice, the prime consideration for enforcement is whether the foreign court was competent to issue the judgment; in other words, whether it had jurisdiction.These two tenets are eminently reasonable. A foreign judgment is after all both a judgment—like a local judgment, and foreign—like a right acquired under a foreign law. The validity of local judgments and of foreign unadjudicated rights depends on jurisdiction: local judgments depend on adjudicatory jurisdiction (often defined in the rules of service); foreign rights—on legislative or prescriptive jurisdiction (the jurisdiction of a system to regulate the situation substantively, as defined in choice-of-law rules). It thus seems appropriate to require jurisdiction of foreign judgments too. Local judgments, once final, are never subject to review, and can be attacked on the grounds that they were obtained by fraud only exceptionally. Rights acquired under a foreign law cannot be refused enforcement because of their substance and are subject only to the public policy exception. It thus seems appropriate to immunise foreign judgments from substantive review too. Foreign judgments—adjudicated rights—are of course different from foreign unadjudicated rights in that they are the product of a process. So, as in the case of local judgments, it should nonetheless be possible, in limited circumstances, to examine whether the process was tainted by fraud. So too, they differ from local judgments in that the process from which they emerge is not a local one; it cannot be relied upon in the same way as locally controlled and institutionalised procedures. It thus seems reasonable that, while prevented from reviewing the substance of a foreign decision, the court should be permitted to require of it a minimal level of procedural justice.
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Lesmana, Budi. "Penerapan Aspek Rasionalitas Dalam Pemilu 2019 (Studi Terhadap Tingkat Partisipasi Politik ODGJ di Kabupaten Hulu Sungai Utara)." Al'iidara Balad 1, no. 1 (August 25, 2019): 1–43. http://dx.doi.org/10.36658/ane2108.v1i1.42.
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Election as a means of popular sovereignty is a vehicle for every citizen who has the right to choose to use his political rights and voice in choosing a leader. Without exception, based on the provisions in the legislation, every citizen can use this right.
In the implementation of the 2019 Election, the KPU strives maximally to accommodate all citizens who have the right to vote in the DPT. Repairs made many times are as an effort to increase voter involvement in elections.
One voter group that is a public concern and discourse is mental accessibility or more commonly referred to as People with Mental Disorder (ODGJ) who voted in the 2019 election. Outside the context that these mentally ill people are under forgiveness according to civil law, the constitution itself basically gives the same rights to people who have mental illness to choose. Even in the Election Law itself there is no prohibition explicitly governing this. This means that mentally ill people also have the right to exercise their right to vote. Not all mentally ill people have the awareness to choose. Of course, if there are certain conditions that are allowed to choose.
But how is the implementation of the business and rules in the field as an effort to increase voter participation by the organizers? And what is important is whether the application of direct, general, free, confidential and fair election principles can also be felt by ODGJ voters. Can their rights be used, but only choose formalities without secrecy. Don't let the voting rights of citizens with certain conditions be given an opportunity to commit fraud in the election. Fraud is detrimental to the voting rights of people who have mental disorders because it is considered easy to be cheated.
Keywords: Elections, Mental Disability (ODGJ), Voting Rights, Participation.
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Park, Sae-Woon. "Review on the Decision of the China Court on Fraud Exception in a Demand Guarantee (Powers Links International v. Far East Cable Co. Ltd, 2016)." Korea International Trade Research Institute 15, no. 1 (February 25, 2019): 217–35. http://dx.doi.org/10.16980/jitc.15.1.201902.217.
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Wahyuni, Wahyuni, Khadijah Darwin, and Nurul Fuada. "Follow up on External Audit Result: Evidence from Telecommunications Companies in Indonesia." Point of View Research Accounting and Auditing 1, no. 3 (July 28, 2020): 71–76. http://dx.doi.org/10.47090/povraa.v1i3.39.
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This study aims to analyze the follow-up of external audit results at PT. Telkom Region IX, Tbk. The research method used by researchers is quantitative descriptive data collection in the form of financial statements audited by the internal auditors and external auditors in 2018 and followed up by asking opinions for informants related to financial reporting. Based on the results of an analysis of research conducted at PT. Telkom states that the audited financial statements in 2018 show the results of an opinion that is reasonable with the exception due to inconsistencies and human resources implementing multiple positions in a company's activities, which can be seen when preparing different fixed asset reports in 2017 and 2018 , so based on the problem it does not show the category of cheating because the reasons presented by the management at the time of the inspection are considered reasonable because it is only done once so that the calculation of depreciation in the following year does not repeat the mistake again, but if the following year changes the depreciation method then this is a an intentional fraud because it has been committed more than once.
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Sohail Imran Khan and Rohat Zada. "Factor Influencing Consumers on Beguiling Craze of Online Shopping: A Study of Attitude in Nagpur City of Maharashtra (India)." Restaurant Business 118, no. 11 (November 15, 2019): 137–45. http://dx.doi.org/10.26643/rb.v118i11.9941.
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Evolution of technology has completely revolutionaries’ day to day life of common man. Technology has penetrated in our life like anything. These days everybody is using technology for their benefit’s and marketers are no an exception to it. They are using technology to reach to the customers. Days are far gone when people used to line up in stores to purchase the general product. These days, more and more individuals lean toward online shopping, which is presently a pattern of style and fashion. Nagpur, the center city of the country and world-famous for its oranges is advancing towards computerized explosion that makes high significance on the assessment of the present acknowledgment level of online shopping by the youngsters. In this way, understanding the by and a large state of customer's attitude towards web-based shopping is significant for the Nagpurians. In this study, 143 respondents took part in the survey. Respondents were selected through simple random technique. Data was analyzed using SPSS Version 22. This study found that online shopping is very common in this young generation of Nagpur. Major reason for Nagpurains to do online shopping is that it saves a lot of time. However, consumer those who do not shop online is only because of online fraud, lack of personal touch and no return policy. Nagpur consumers do prescribe online shopping as an elective path for shopping.
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Fadhillah, Nuurul Fajari, and Vishnu Juwono. "APPLICATION OF FIVE-STREAM FRAMEWORK CONCEPT IN E-PROCUREMENT IMPLEMENTATION IN DEPOK: A REVIEW OF LITERATURE." DIA Jurnal Ilmiah Administrasi Publik 18, no. 1 (June 9, 2020): 121–41. http://dx.doi.org/10.30996/dia.v18i1.3343.
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In the current digital era, technology distribution in all sectors is crucial, no exception in the procurement of goods and services sector. Knowing this situation, the government then makes a policy that requires the process of procurement done electronically through the e-procurement application. By implementing this policy, the government expects an improvement of transparency, accountability, and efficiency in the process of procurement. To support this effort, in the year 2018 government also issued the Peraturan Presiden No. 16 Tahun 2018 on Public Procurement of Goods and Services, which provides an expansion of the role for stakeholders to engage in the process of procurement.One of the cities that implement e-procurement is Depok through its Working Unit for Procurement of Goods and Services (UKPBJ). This city even received numerous awards while implementing this policy. Nevertheless, there are many high fraud potential and corruption cases in this sector in the last few years. Through this research, the author seeks to provide recommendations of e-procurement implementation in Depok based on the public policy implementation concept from Howlett (2018), which does emphasize the importance of stakeholder role. The data on this research is gathered through the literature review methods while still paying attention to the credibility of data sources. The results of the analysis using this concept preceded by stakeholder mapping based on Emmy (2015) explanation show that the stakeholder role is crucial and must be maintained. Besides, efforts to increase transparency are also needed to facilitate stakeholders doing their role.
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Zhou, Tingting, and Juan LI. "Does mixed ownership improve the financial quality of Chinese listed companies?" Nankai Business Review International 8, no. 3 (August 7, 2017): 367–88. http://dx.doi.org/10.1108/nbri-05-2016-0019.
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Purpose The purpose of this paper is to explore financial quality problems, based on the dynamics of the ownership structure, in the privatization process to clarify the internal relation among the ownership’s attribution of the commercial mixed ownership company, the company’s performance and its financial relationships. This paper also examines the mixed ownership enterprise’s potential problems during the development process. Design/methodology/approach Adopting the single case study method, the authors selected the mixed ownership public company Hubei Sanxia New Building Materials Co., Ltd. (stock code: 600293) to explore, from a privatization perspective, the impact of mixed ownership on financial quality. Findings The study found that Sanxia experienced tight cash flow and heavy debt burdens due to the privatization and that its controlling shareholders used non-operating income to support Sanxia, thus characterizing the dual role of “the grabbing hand” and “the helping hand.” Sanxia’s privatization process highlighted the volatility of performance, the exception of monetary funds and the existence of accounting fraud rather than the prosperous development of the capital combination. Originality/value These findings provided case support that privatization negatively affects the financial quality of the company. Previous studies have indicated that there should be greater focus more on the issue that state-owned shares rebound during the process of privatization and that, with respect to commercial mixed ownership reform of state-owned enterprises, such reform must avoid the passive transfer of corporate control, ensure the fairness of the related transactions, prevent the loss of state-owned assets and preclude the controlling shareholders from seizing interests of listed companies.
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Gonzalez, George C., and Vicky B. Hoffman. "Continuous Auditing's Effectiveness as a Fraud Deterrent." AUDITING: A Journal of Practice & Theory 37, no. 2 (May 1, 2018): 225–47. http://dx.doi.org/10.2308/ajpt-51828.
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SUMMARY Continuous auditing increases the coverage and frequency of analysis of a firm's activities, and has been touted as a powerful fraud deterrence and detection technique, but we identify and examine a potential unintended consequence. When continuous auditing is accompanied by more timely notifications to auditees of exceptions to control rules, information is revealed about the system's capability to flag exceptions to control rules. Therefore, if a system has weak fraud-detection capability, early notification that the system did not detect a fraudulent transaction could actually increase an auditee's propensity to commit fraud. We examine whether the benefit of early notification depends on the fraud-detection capability of the organization's monitoring system (i.e., whether it is a strong or weak monitoring system). We use an experimental economics approach to address our research question. Consistent with expectations, we find that early and frequent notification of audit results is not always beneficial in deterring fraud, and that its benefit depends on whether the fraud-detection capability of the monitoring system is strong or weak. We do not find evidence of the predicted benefit of continuous notification reducing the incidence of fraud when the system is strong, but we do find an increase in participants' inclination to commit fraud when the system is weak. We discuss the implications of these findings for research and practice.
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Agostini, Marisa, Riccardo Cella, and Giovanni Favero. "Accounting fraud before codification: An inquiry on budget misstatements in eighteenth-century Venice." Accounting History 26, no. 3 (March 22, 2021): 434–56. http://dx.doi.org/10.1177/1032373221989454.
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The article focuses on the understudied role of accounting information in financial fraud in pre-modern historical contexts where specific regulations and standards were absent. Following a systematic literature review, the authors adopt an enriched version of the ‘fraud triangle’ to correctly identify fraud in such a setting. A microhistorical approach allows them to identify an exceptional case documenting the use of accounting statements to disclose a financial fraud in a ceramic manufacturing partnership in late eighteenth-century Venice. The case is analysed to identify the role of accounting information in determining the purpose (incentive), the technical possibility (opportunity) and the consequences (rationalisation) of the fraud. The results emphasise the authorities’ use of accounting statements to assess the situation of the company and fix its crisis, rather than to sanction fraudulent behaviours.
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Jadalhaq, Iyad Mohammad. "Gross Fraud in the UAE Civil Code: From Its Roots in Islamic Jurisprudence to Contemporary Proposals for Reform." Arab Law Quarterly 34, no. 2 (September 26, 2019): 109–40. http://dx.doi.org/10.1163/15730255-12341046.
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Abstract The regulations concerning gross fraud instituted by the United Arab Emirates (UAE) legislature in the UAE Civil Code are derived from provisions put forward by the Ḥanafī school of law. A general rule was put forward, and exceptions thereto were set. A certain remedy for gross fraud was instituted, namely, giving the defrauded party the right to terminate the contract. This article determines the comprehensiveness and adequacy of the legal texts dealing with the impact of gross fraud on contracts in the UAE Civil Code, the methods by which balance could be achieved between the interests of the contracting parties, and the means of protecting the defrauded contractor. Furthermore, shortcomings and defects in the existing legal texts that require amendment and reform are highlighted. This study concludes that the legislative treatment of the impact of gross fraud on contracts is insufficient, and advances possible recommendations.
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Jacobson, Edith. "Les « exceptions » Une élaboration sur l'étude de caractères de Freud." Libres cahiers pour la psychanalyse 13, no. 1 (2006): 13. http://dx.doi.org/10.3917/lcpp.013.0013.
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Pretorius, Chris James. "Third Party Fraud inducing Material Mistake Slip Knot Investments 777 (Pty) Ltd v du Toit 2011 4 SA 72 (SCA)." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 14, no. 7 (June 9, 2017): 186. http://dx.doi.org/10.17159/1727-3781/2011/v14i7a2622.
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In Slip Knot Investments v Du Toit 2011 4 SA 72 (SCA) the Supreme Court of Appeal had to determine if the material mistake of a contractual party induced by the fraud of an independent third party could sustain a plea of iustus error raised by the mistaken party. The position prior to this decision was uncertain and characterised by inconsistency, mostly occasioned by the application of the iustus error doctrine together with fault. The Supreme Court of Appeal found that in the circumstances the mistaken party was liable, despite the fraud of the third party, on the basis of the reliance theory. The decision is commendable for bringing a measure of certainty to the law of mistake on this point and indicating that the reliance theory (as opposed to the iustus error doctrine) is the appropriate means to resolving such cases. Nevertheless, it is suggested that although the general rule implied by the court's approach is entirely apposite, there may well be exceptional instances where on the basis of relevant policy considerations the reliance theory should not prevail and the mistaken party should be absolved from contractual liability. In this manner reliance, which at first seems reasonable for being induced by the conduct of the contract denier, may upon further reflection be regarded as unreasonable based on the consideration of risk creation at the hand of the contract assertor, for instance. Admitting exceptions in appropriate circumstances would also provide a degree of consonance with earlier case law, where, even if the court's approach was open to theoretical criticism, a court has intuitively felt that liability should not lie.
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MIHOREANU, Larisa, Carmen COSTEA, and Alexandru STEFANESCU. "The Healthcare System and the Hidden Traps of its Logistics." Journal of Economic Development, Environment and People 5, no. 2 (June 24, 2016): 67. http://dx.doi.org/10.26458/jedep.v5i2.488.
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The analysis of the society development is more complex than one might think at first glance. So is the market. There are sides and activities not easy to see and one needs high capabilities and strength to look beyond the appearances and see what’s not visible.The most dangerous games happen inside the crossing boarder sectors that no men land between legal and black activities; that is a very vivid area where actions and profits are higher than ever can imagine. This side of the economy has its tentacles piercing the legal boarder of the sound economy and functions through movements that effect all sectors and activities pushing to get huge black profits.Romanian health sector makes no exception. The wish to get getting higher and higher profits doesn’t go with performing and satisfactory management when the corporate liaisons are oriented more on discussions and less on integrative quality and satisfaction of people concerned; thus the so called guys in white coats are necessarily oriented to another sort of motivation – linked to networked process of getting black money and laundering it through the backing support of the informal more than legal procedures.The loss is always paid by individuals and community as: fewer funds from taxes, stratified salaries caused subjective application of norms and procedures, decreased labour quality, inappropriate economic behaviour, losses in the robustness of the future generations. Through such channels, the informal economy last running building up a strong logistic that develops parallel activities, utterly designed to respect specific customs based on gestural understanding and communication that encourage the unfairness, the aggressiveness in competition and hot money/short run investments.This paper intends to catch some of the general aspects of what black and informal economy can carry out, through procedures that use the imperfect legal methodology decision and its implementation into informal possibility to fraud both the public funds and peoples savings.The paper touches also the public consequences of the undeclared work of employees of public and private sectors emphasising also the need to identifying some specific roles to play in the future by the services business planning, the law application and the policy of autonomy to help the medical market blossom vigorously.In conclusion, we sustain that the fair action is not an alternative conception of developing, in the fashion, neither of human evolution nor of need-based growth. There is a higher need to model individual awareness and motivation in the direction of increasing the self-responsibility for building a better environment based on a proactive personal development, from within and connected to the outer world.
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Martins, António, and Cristina Sa. "The computation of taxable income when accounting numbers are not reliable." International Journal of Law and Management 60, no. 2 (March 12, 2018): 543–62. http://dx.doi.org/10.1108/ijlma-12-2016-0181.
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Purpose The purpose of this paper is to discuss the causes that justify the application of presumptions in corporate income taxation. The authors focus on motives showing a connection to errors or fraud in the recognition of operations by the financial accounting system. The research question can be framed as follows: How to define the frontier between reliable accounting records and unreliable information, the latter rendering presumptions as an admissible way of taxing income? Design/methodology/approach The research design of this paper rests on two analytical steps based on the legal research method. The first step enquires, at the accounting level, how to define and quantify errors that render accounting statements inappropriate to assess firms’ performance and compute taxable income. The second step explores the practical application of presumptive tax concepts by Portuguese courts, to offer some criteria that can function as guidelines to firms and tax auditors. Findings The judgment about the boundaries of accounting errors that allow the use of presumption-based taxation is often decided by litigation. Portuguese jurisprudence provides strong evidence that presumptions should only be applied if, even by correcting of errors and inaccuracies, corporate real income cannot be obtained. The level of contamination must be obvious, and tax audits must present a strong and documented claim that presumptions are a last-resort mechanism to compute an appropriate tax base. The Supreme Tax Court has been applying a consistent approach characterized by: presumptive taxation is a last-resort mechanism; tax audits must prove that a generalized contamination of accounting data is observed; it is not possible to correct accounting errors, given their extension and depth, and the taxpayer did not submit contradictory solid evidence. Practical implications Applying, in practice, legal criteria to decide that accounting manipulation is so extensive that taxation must be based on presumptions is fraught with subjectivism. However, we offer an analysis where some guidelines to this complex issue are presented in a logical way. Principles-based taxation can, nonetheless, be applied with a significant degree of fairness and consistency. Originality/value The paper contributes to the literature by offering an analysis of the criteria used by Portuguese tax courts when deciding that accounting data can be disregarded and presumptions used as a tax computation tool. Given that the rule, in many countries, is to base taxable income on accounting records (albeit with adjustments established in Corporate Income Tax Codes), presumptions are a notable exception to this well-established rule. As such, taxpayers have a significant interest in knowing how courts rule on tax authorities’ use of presumptions. In this light, the paper has also potential value to professionals in the accounting and tax fields. They are often confronted with tax audits that apply presumptions. Therefore, knowing jurisprudential trends in the judgment of such, usually complex, cases is an important issue.
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Trigg, Robyn. "United Kingdom Patent Decisions 2020." IIC - International Review of Intellectual Property and Competition Law 52, no. 3 (March 2021): 296–318. http://dx.doi.org/10.1007/s40319-021-01036-y.
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AbstractThis report highlights a selection of the most important UK patent decisions from 2020, including: two Supreme Court judgments (one concerning insufficiency and one concerning FRAND); two Court of Appeal judgments (considering SPC fees and Arrow declarations); and four High Court judgments (regarding the Crown use exception, injunctions and the public interest, the treatment of experts in patents trials and technical primers, and interim injunctions).
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Sobrino-García, Itziar. "Copyright in the Scientific Community. The Limitations and Exceptions in the European Union and Spanish Legal Frameworks." Publications 8, no. 2 (May 19, 2020): 27. http://dx.doi.org/10.3390/publications8020027.
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The increase of visibility and transfer of scholar knowledge through digital environments have been followed by the author’s rights abuses such as plagiarism and fraud. For this reason, copyright is increasingly a topic of major importance since it provides authors with a set of rights to enable them to utilize their work and to be recognized as the creators. The new research methods linked to technological advances (such as data mining) and the emergence of systems such as Open Access (OA) are currently under debate. These issues have generated legislative changes at the level of the European Union (EU) and its Member States. For this reason, it is relevant that the researchers know how to protect their work and the proper use of another’s work. Consequently, this research aims to identify the limitations of copyright in the EU and as a specific case in Spain, within the framework of scientific research. For this, the changes in the European and Spanish copyright regulations are analyzed. The results confirm new exceptions and limitations for researchers related to technological evolution, such as data mining. Additionally, the article incorporates several guidelines and implications for the scientific community.
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Nerandzic, Branislav. "Internal control of enterprise." Privredna izgradnja 47, no. 1-2 (2004): 99–112. http://dx.doi.org/10.2298/priz0402099n.
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Outside the enterprise, internal control systems do not provide sufficient protection to investment decision makers from the possibility of great management fraud. However, the system of internal control is there to provide assurance for management of an enterprise that accounting information of an enterprise is reliable. Internal control systems, internal and external audit, never really had an exclusive task to protect an enterprise form fraud, or to protect the owner and wider public from management fraud. These days, especially, institutes for internal control and audit, are becoming modern management's instrument for running and managing business operations, and for permanent evaluation reliability of an enterprise. Internal control is a form of supervision of accounting and administrative controls, and something even more, it is a special value adding philosophy in an organization through its activities. Operational audit has exceeded internal audit. Operational audit is a widespread activity that is established to analyze organizational structure, internal control systems, and flow of a working process, wider evaluation reliability and management performance results. Operational audit is and instrument of business operations of an enterprise, management tool and its corrector. It measures the realization of an organization compared to its purpose and goals set. Operational audit deals with entire achievement of goals effectiveness of business procedures and internal control, performance of some managers and other non-financial aspects of business operations. Operational audit uses exceptional, special senses through logical auditing technique to realize the purpose of organizational goals, operations controlling processes, communication and information system.
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Elder, Randal J., and Alfred A. Yebba. "The Roslyn School District Fraud: Improving School District Internal Control and Financial Oversight." Issues in Accounting Education 32, no. 4 (April 1, 2017): 25–39. http://dx.doi.org/10.2308/iace-51753.
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ABSTRACT The voters in Roslyn, New York inadvertently funded a multi-year embezzlement of $11 million of school district tax funds. Disguised by exceptional school rankings, and supported through a strong tax base, it was the largest embezzlement of school district funds to occur in the United States. Perpetrated by a school superintendent and his conspirators, initial evidence of the cash fraud was discovered two years prior to a formal investigation; however, a series of cover-ups by board of education members along with substandard audit work allowed the embezzlement to continue. State regulators responded to the crisis with the passage of a series of fiscal reform legislation aimed at improving school district internal control through changes in school district governance, the procurement of independent auditing, and state agency oversight. The case explores the incentives, rationalization, and opportunities for the perpetration and concealment of the Roslyn fraud as well as the overall impact of the state's fiscal reform legislation on New York's independent audit markets and reporting quality. This case is suitable for use in both auditing and governmental and not-for-profit courses.
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Hugo, Ch. "Demand Guarantees in the People’s Republic of China and the Republic of South Africa." BRICS Law Journal 6, no. 2 (June 13, 2019): 4–32. http://dx.doi.org/10.21684/2412-2343-2019-6-2-4-32.
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Guarantees play an important role in large commercial contracts internationally. Guarantees can be either independent (demand) guarantees or accessory guarantees. The legal consequences of the two differ significantly and, therefore, it is important to differentiate clearly between the two. In the case of independent (demand) guarantees – the focus of this contribution – the guarantor’s liability is independent of the underlying performance it is guaranteeing, and is accordingly to be determined, in principle, with reference only to the terms of the guarantee. However, this is not an absolute principle. Jurisdictions throughout the world recognize exceptions to this principle, the most important and prevalent being fraud on the part of the beneficiary. A Judicial Interpretation by the Supreme People’s Court of the People’s Republic of China relating to independent guarantees came into operation in December 2016. Its rules depart in some important respects from the law of guarantees in South Africa, both in relation to the determination of the nature of the guarantee (as independent or accessory) and in relation to the exceptions to the principle of independence. This article explores these issues against the background of the law of contract of both countries.
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Roudinesco, Elisabeth. "LACAN, THE PLAGUE." Psychoanalysis and History 10, no. 2 (July 2008): 225–36. http://dx.doi.org/10.3366/e1460823508000184.
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Le 7 novembre 1955, à l'invitation du professeur Hans Hoff, qui dirige la Psychiatrisch-Neurologische Universitätsklinik, Jacques Lacan donne une conférence qu'il intitule ‘Le sens du retour à Freud en psychanalyse’. On ne connaît pas la version originelle de ce texte publié pour la première fois en 1956 et repris avec quelques variantes en 1966 sous le titre ‘La chose freudienne ou Sens du retour à Freud en psychanalyse’. Dans cette intervention intitulée ‘Lacan, la peste’, présentée à Vienne en 2005, lors de la célébration du cinquantenaire de la conférence de Lacan, Elisabeth Roudinesco montre comment celui-ci fonde – à travers l'idée que Freud aurait apporté la peste lors de son voyage aux Etats-Unis en 1909 – le mythe d'une représentation révolutionnaire de la théorie freudienne qui colle avec ce qu'elle nomme ‘l’exception française'. La France est en effet le seul pays au monde où, avec les surréalistes, puis avec l'enseignement de Lacan, la doctrine de Freud a été regardée comme une pensée subversive, irréductible à toute forme de psychologie adaptative, au point d'être assimilée à une ‘épidémie’, semblable à ce qu'avait été la Révolution de 1789. At the invitation of Professor Hans Hoff, Director of the Psychiatrisch-Neurologische Universitätsklinik, Jacques Lacan gave on 7 November 1955 a lecture entitled ‘The meaning of the return to Freud in psychoanalysis’. The original version of this paper is unknown though it was published for the first time in 1956 and reprinted in 1966, with some variants, with the title: ‘The Freudian Thing or the meaning of the return to Freud in psychoanalysis’. In a conference entitled ‘Lacan, The Plague’, held in Vienna in 2005, Elisabeth Roudinesco shows how Lacan – through the idea that Freud would have brought the plague with him on his 1909 trip to America – created the myth of a revolutionary representation of Freudian ideas related to ‘the French exception’. France is indeed the only country in the world where – after Surrealism and Lacan' teaching – Freud's doctrine have been seen as a subversive theory, irreducible to any forms of adaptive psychology and assimilated to an epidemic like the French Revolution.