CA Ramachandran M 14032012 Bangalore Branch SIRC ICAI
ETHICAL PROBLEMS CASE STUDIES PRESENTATION
FOR ACCOUNTNANTS AUDITORS ATTACHED.
Four cases-one each for
Auditor
Accountant in Business
Accountant as Director
Accountant in charity
Video Link of Seminar is as follows:
http://www.bangaloreicai.org/resources/icai-tube/viewcategory/16/seminar
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BOARD-HIGH PERFORMING & MANAGEMENT ACCOUNTANTS-AICPA
A high-performing board is one that adds value to the organization by achieving a full package of responsible activities such as ethical decision making; understanding the strategic environment; understanding the needs of employees, customers and all those in the supply chain; and anticipating future events in an uncertain world. Management Accountants can play key roles in supporting good governance by helping boards address these issues effectively.
Cloud Computing originally evolved as an extension of the traditional Client-Server
approach to computing in which a network-friendly client version of a particular application
system was lodged on client computers. These utilized the client system’s memory
and CPU for processing while the resultant data fi les were stored centrally on the corporate
data servers. This meant that multiple user licenses of an application had to be
purchased for use by many users on a network.
The concept of Cloud Computing differs from this model in that the application
systems are provided from the server and executed and managed by the clients’ web
browsers with no need for an installed client version of the application system. This form
of application centralization gives the cloud service providers absolute control over the
versions of an application system provided to clients, thus removing the need for license
agreements on an individual client basis as well as easing software version control. This
form of Cloud Computing is commonly known as Software as a Service (SaaS). As a
result of this, both the hardware and software requirements on the user’s side decrease,
with the cloud’s network taking the bulk of the load.
In terms of risk, client computing once again exacerbates the risks of information
security and privacy since the data as well as the applications are maintained within the
cloud itself. This can expose both the user of the system as well as the service provider
to potentially serious risks of data loss as well as cyber espionage. In addition, where the
data resides in a country other than that of the cloud user, the user may be exposed to
legal issues regarding future access to his or her own data as well as ownership of the
intangible property under the terms of another country’s legislation. A further complication
arises should access to the clouded services be, for any reason, unavailable.
Potentially this could leave the user of the service in an untenable position where his or
her ability to do business may be severely restricted. Should a client decide to migrate
the data to another cloud provider, further complications may ensue due to the lack of
porting standards(WILEY BOOK EXCERPT)
Europe’s sovereign-debt crisis isn’t over, OECD warns
The Organization for Economic Cooperation and Development warned that Europe’s sovereign-debt crisis is not over. The OECD said financial markets have calmed, but the eurozone must not become complacent and economic reform is necessary. “Market confidence in euro area sovereign debt is fragile,” according to an OECD report. “The outlook for growth is unusually uncertain and depends critically on the resolution of the sovereign debt crisis.”
FRAUD -HEALTHCARE-WILEY BOOK EXCERPT
healthcare fraud schemes target one of the following:
Pursuit of money
Avoidance of liability
Malicious harm
Emotional drivers: Revenge, boredom, egotistical challenge, selfimposed
justice
Competitive advantage
Research and product market advantage
Addiction
Theft of personal effects
Theft of individual and/or corporate identity
WHO COMMITS HEALTHCARE FRAUD
Providers
Insured patients
Individuals, both domestic and foreign
Approvers (employees) who pay claims to themselves or friends
Rings, or a group of criminals who commit healthcare fraud
Nonproviders, or nonmedical, nonrelated healthcare players who
create fraud schemes
Payers, agents, and personnel
Vendors and suppliers providing services within the healthcare industry
TPA CASE
A third-party administrator (TPA) processing claims on behalf of Medicare
signed a corporate integrity agreement (CIA) with the Department
of Justice USA in response to
a number of allegations by providers that the TPA did the following
eight acts:
1. Failed to process claims according to coverage determinations
2. Failed to process or pay physicians’ or other healthcare claims in a
timely fashion, or at all
3. Applied incorrect payments for appropriate claims submissions
4. Inaccurately reported claims processing data to the state, including
a failure to meet self-reporting requirements and impose selfassessment
penalties as required under the managed care contract
with the state
5. Failed to provide coverage of home health services to qualified
beneficiaries
6. Automatically changed current procedural terminology (CPT) codes
(used to explain the procedure provided)
7. Did not recognize modifiers (modifiers are additional codes that
providers submit to explain the service provided)
8. Did not reliably respond to appeals from patients, sometimes not
responding at all or waiting over 6 to 12 months to do so
GOOD COMPANY INDEX
In GOOD COMPANY Laurie Bassi and her co-authors make the case that to succeed in the future a company will need to meet the criteria for what they call a “good company.” They have developed a rating system GOOD COMPANY INDEX which takes into account certain criteria that are becoming essential in the new economy.
INDIA-INDIRECT TAXES-icai.org
The structure of indirect taxes in the country is undergoing changes and possibly GST being ushered in time to come. The Finance Minister in past few years has been also focusing on Indirect Taxes for increasing the revenue year after year. This year also the estimate of additional revenue from Central Excise and Service tax could be more than Rs. 70,000/- crores. Recently, taxation of services based on negative list of services has been introduced by the Government in the Budget, 2012.
Considering the fact that Network imparts greater spread of services be it in different geographies or different disciplines and specialisations and provides opportunity to achieve more comprehensive understanding of taxation as whole, the Indirect Taxes Committee has developed IDT net, a networking portal for practicing members and members working in the field of indirect taxes with the features of search facilities. Periodic updates/ IDT news is also circulated to all the members registered with the IDT net.
Anyone, whether registered on the IDT Net or not, can use the search features available on the IDT Net by name/ cities/ subject etc. The link of IDT Net is http://icai.ind.in/newsletter/lt.php?c=1002&m=661&nl=188&s=fee9aa575180e513e26e5d9db084f4ed&lid=2884&l=-http–www.canet.co.in/indexidt.jsp
The IDT Net can provide a platform for interactions on variety of issues arising in this context, consolidate views of industry and constitute a think tank facilitating decision making process of Government.
The Indirect Taxes Committee welcomes you to register on the IDT Net and be part of the networking by login at http://www.canet.co.in/indexidt.jsp and also suggest the modification in the IDT Net for making it user friendly.
IPO COMPANIES & FINANCIAL RESTATEMENTS-AICPA
Nearly one-third of companies that have made initial public offerings since 2004 have had to issue financial restatements, according to an analysis by Lord & Benoit.
LEADERSHIP
book by Dr. Karol Wasylyshyn called Behind the Excutive Door
Dr. Wasylyshyn categorizes leaders as Remarkable, Perilous or Toxic. And depending on where they are along that continuum affects how we interact with them.
TRUTH
Truth is often eclipsed but never extinguished.
—Livy, Historian (59 B.C.–A.D. 17)
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