Jamaica Water Properties

Jamaica Water Properties A lineament Study The case is some an score finesse that involves the Jamaica Water Properties, Inc. The maneuver was characterized by misappropriation of bribe order of report for acquisitions, arrangement fictitious assets, unlawful accounting for NOLCO, non-recording of impound 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 tierce senior accountants. These were aimed to explode the price of the community stocks because of amplify moolah that caused them to receive muscular bonuses. However, JWP internal auditors besides tolerated all of these because of their disquietude of being fired. In addition, Ernst & Young, the troupes extraneous auditor, knowing the dishonest activities, have been number 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 Grendi made the fr aud 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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