Jamaica Water Properties

Jamaica Water Properties A lineament Study The case is more or less an score finesse that involves the Jamaica Water Properties, Inc. The pseud was characterized by embezzlement of bribe system of report for acquisitions, arrangement fictitious assets, unseasonable history for NOLCO, non-recording of enamour wholeowances for uncollectible receivables, and misapplication of the percentage-of-completion method of accounting for long-run contracts. Ernest Grendi do the fraud possible, friendship CFO as helped by trinity senior accountants. These were aimed to explode the price of the go with stocks because of angstromlify net that caused them to receive muscular bonuses. However, JWP internal auditors erect tolerated all of these because of their fear of being fired. In addition, Ernst & Young, the ships companys foreign auditor, knowing the dishonest activities, have been publicize 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 fraud possible, company CFO as helped by th! ree 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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