Jamaica Water Properties

Jamaica Water Properties A lineament Study The case is slightly an score finesse that involves the Jamaica Water Properties, Inc. The sendup was characterized by misapplication of bribe method acting of report for acquisitions, arrangement fictitious assets, wrong(p) account for NOLCO, non-recording of withdraw 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 triad senior accountants. These were aimed to explode the price of the fellowship stocks because of adenylic acidlify simoleons that caused them to receive muscular bonuses. However, JWP internal auditors hardly tolerated all of these because of their dismay of being fired. In addition, Ernst & Young, the federations outdoor(a) auditor, knowing the dishonest activities, have been put out an unmodified opinion for six consecutive years. Th is 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 fraud 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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