Question
The Australian Institute of Criminology (AIC) asserts that three factors can explain fraud. Which of the following is not considered as one of the factors
The Australian Institute of Criminology (AIC) asserts that three factors can explain fraud. Which of the following is not considered as one of the factors asserted by the AIC?
- Pressure, opportunity, and rationalization
- Absence of effective and efficient internal controls
- Availability of suitable targets
- Supply of motivated and willing offenders
- All the above
- None of the above
- West Coast Baseball Association, Inc.’s, (WCBA) baseball stadium was destroyed by a tornado. WCBA and its insurance company disagreed on the amount to recover for the damages. As a result, you have been engaged as a forensic accountant to compute the amount recoverable for the damages after trial as an Exhibit to be presented in a court of law.
- $5,250,000
- $4,250,500
- $3,350,500
- None of the above
However, based on negotiations, the litigants (WCBA and the insurance company) have agreed on the following cost elements:
Projected earnings after trial, had the harmful event not occurred was $4,300,500 million
Project earnings after the trial were $500,000
Discounting was $450,000
Required:
Calculate the damages after the trial? (Hint: Use the Standard Formula for Damages calculations prescribed by the Federal Judicial Center’s Reference Manual on Scientific Evidence)
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