What is Bunge? what do they do? Bunge is an agribusiness company that deals with the transportation and supply of food and raw agricultural products, such as sugar, oilseeds, grains and fertilizers, connecting farmers to consumers and food processors worldwide by means that assure food safety and environmental efficiency. Bunge started as an import-export company in Amsterdam in 1818, and later expanded by 1905 to Brazil, 1918 to North America, and steadily carried out its expansion throughout Asia and Europe, by offering grain elevators, port terminals, grain mills, oilseed crushing facilities and refineries, sugarcane mills, and innovation centers complemented by a global network of trading and marketing offices thus establishing the company …show more content…
law and international conventions prohibiting bribery and corruption. Responsibility to shareholders, and public companies. Responsibility to the company’s core values, code of control and value of brand. Responsibility to other employees. Bunge has adopted an ethical code of conduct “the Code” in running business, to assure business integrity, it is maintained by GEC (Global Ethics and Compliance) and the Chief Compliance Officer and requires all of the company’s directors, officers and employees to abide by it, GEC and the Chief Compliance Officer are working closely with the Legal Department ensuring consistent compliance with the Code of Conduct to support policies and procedures, the company nurtures a culture of trust, openness and compliance, by providing accessibility to the company’s hotline and Legal Department for consultations or reporting -in good faith- any actions or acts that might be breaching to any article included in the company’s Policy and …show more content…
what is fraud? Fraud is defined -in basic terms- as any wrongful or criminal deception intended to result in financial or personal gain, it includes any intentional or deliberate act to deprive another (being an individual or a company) of property or money by means of deception, or other unfair methods. There are two types of fraud, internal fraud (also referred to as occupational fraud) and external fraud. Internal fraud is defined as: the use of one’s occupation for personal gains by deliberately misusing the organization’s resources or assets, meaning a company falls victim to one of its employees. Occupational fraud can be done through various forms, some of which are: corruption, asset misappropriation bribery, illegal deals, tampering with payrolls, cash billings, inventory, financial statements. External fraud happens when a company falls victim to a dishonest vendor or customer, through various schemes such as billing the company for unprovided services or soliciting bribes from employees. ACFE (Association of Certified Fraud Examiners) The ACFE (Association of Certified Fraud Examiners) is the world's largest anti-fraud organization and premier provider of anti-fraud training and education, reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the
Using a code for a more expensive service when that was not the service rendered. Another is unbundling. Certain medical services are bundled together under one charge/code in unbundling you code the procedures separately which results in higher reimbursement. One you might not think of as being fraud is under-coding. This is often done to avoid investigation by the OCG.
There shouldn’t be any unethical practices which bring down the reputation and the capability of the company. And the company shouldn’t fake any unrealistic position of the company as they have to keep up practising in showing the original worth of organisation, instead of showing wrong values. There has to be corporate responsibilities and must abide according to the rules and regulations of the company. TEAM NAME: LIVELY WALL
These symptoms require investigation to discover the cause, whether it is fraud or not. There are 6 groups of fraud symptoms: accounting anomalies, internal control weaknesses, analytical anomalies, extravagant lifestyle, unusual behavor, and tips and complaints (Albrecht, Albrecht, Albrecht, & Zimbelman, 2012). Accounting anomalies are things that are not normal within the accounting records. This could be missing or fictitious documents or false entries into the books (Albrecht,
Bass Pro Shops is a unique retail store that sells high quality gears for many outdoor activities. Not only can you buy the best merchandise on the market, you can also experience workshops and life-like outdoor theatres located in the stores. It started as a small homemade bait shop located in Springfield, Missouri; it slowly making its way to having 50 retail stores in the United States. SWOT analysis consists of a company’s strengths, weaknesses, opportunities, and threats.
The fraud triangle is made up by three distinguished elements. These elements in the fraud triangle consist of pressure, opportunity, and rationalization. The overall representation of the fraud triangle can be seen as the specific model to spot any type of high-risk unethical and fraudulent performances being conducted by a company, in this case Cendant Corporation. Cedant Corporations actions can be analyzed by the fraud triangle by the way that their senior management/top management decisions fell into the three categories of pressure, rationalization, and opportunity. Cendant Corporation had the pressure to comply with their shareholders and to maintain a stable financial status to prove that they were a profitable organization with a bright company image.
He also rationalized his fraudulent activities by hiding the customer’s late payment in order to be benefitted himself, but said that he was helping people more than he was helping himself. 2. Given that Mr. Pavlo’s fraud was restricted to an accounts receivable embezzlement scheme, what symptoms might auditors observe?
There are standard types of ethics violation which every worker need to know during his operations in the business or an
Embezzlement is an example of a white-collar crime that can be done by anyone. Embezzlement is improperly taking money from someone to whom you owe some type of duty. The most common example of this is when a company employee that embezzles money from his employer for example by taking out money into a personal account. Embezzlement can take many forms, however. Lawyers who improperly use client funds commit embezzlement.
The selected corporation is Volkswagen (VW), a German car manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Established in 1937, Volkswagen is the top-selling and namesake marque of the Volkswagen Group, the holding company created in 1975 for the growing company, and is now the second-largest automaker in the world (Wikipedia, 2016). Volkswagen’s corporate website is http://www.vw.com/. According to the International Ethical Business Registry, there has been a dramatic increase in the ethical expectations of businesses and professions over the past ten years. Increasingly, customers, clients and employees are deliberately seeking out those who define the basic ground rules of their operations on a daily basis.
A) Introduction Unethical behaviors in business affect everyone since you either work in the field or are a consumer of its services. Unfortunately, almost every company usually has individuals who act unethically whether it is for their personal benefit or for the sake of the company they work for. Unethical behaviors in business might be as simple as using company property or funds for personal gain to inside trading and financial fraud. According to The Chartered Institute of Management Accountants, nearly one third of business professionals feel pressured to compromise their ethical standards and are increasingly pushed towards unethical behavior. Moreover, “misconduct is common and accepted by business services professionals, the integrity of entire economic systems is at risk”, states Jordan A. Thomas, partner and chair of the Whistleblower Representation Practice at Labaton Sucharow law firm.
Abstract Whistleblowing has now became an important aspect to organizations and it reflects governance aspect of the organization. This paper explains problems faced by Whistleblowers over the world. This paper also deals with the legislations on whistleblower protection in India and why some countries are hesitating to introduce whistleblower protection law. It deals with reasons for such hesitations.
LEADERSHIP & MANAGEMENT WEBINNOVATE 2.1 BAREBURGER SWOT & PESTLE ANALYSES ASSIGNMENT Submitted by: (The7Corgis Group) John Hargaden David Gardiner Hassan Sougrati TABLE OF CONTENTS Company Description Key Facts SWOT Analysis Strengths Weaknesses Opportunities Threats PESTLE Analysis Political Economic Social Technological Legal Environmental “You can’t grow if you don’t go out of your comfort zone” Euripides Pelekanos – Bareburger Group LLC Co-Founder & CEO 1. COMPANY DESCRIPTION
Soft fraud includes lying on an application or engaging in other forms of deceit to cheat insurance companies. Hard fraud involves most extreme cases when people fake covered events or claims to collect payments. Faking an injury to get an accident insurance settlement is one example. Burning down a house to collect homeowners insurance money is another example. Insurance fraud expenses contribute to higher premiums for law abiding people.
Business ethics also referred to as corporate ethics can be considered as either a form of applied ethics or professional ethics. Its purpose is to analyse ethical principles and also moral as well as the ethical problems that might arise in a business environment. Business ethic is applicable to all parts of business conduct and also takes into consideration the conduct of individuals and the business organizations as a whole. Business ethics can be divided into normative and descriptive discipline. For the purpose of this assignment, the Nestle Company has been chosen.
Ethical issues in accounting and finance. Summary This task analysis the issue of ethics in accounting and finance as discussed in the International Journal of accounting and finance. Currently, ethics of any firm is an important topic due to the numerous scandals that have taken place in different countries which have resulted in damage to the economy and society.