Money laundering

Money laundering  

  • 1-What types of activities are attractive sources for money laundering activities (your book gives you drug trafficking, but if you search in your index, you’ll find such things as tax fraud, divorce etc.)? use ebook ch7
    • The general motivations are similar – hide assets
    • The specific motivations are different – evade taxes
    • The three-step-process is the same (in your book)
  • 2-How might transnational flows of money be more susceptible to money laundering activities than US banks (think about types of banks, requirements for US banks, etc.)? use ebook ch7


Indirect methods of reconstructing income

  • 3-According to your book, which governmental entity is most likely to employ this general method of evaluating a perpetrators actual income and why? use ebook ch6
    • There are eleven methods given in your book.

4-Under what circumstances would the IRS use these specific methods to reconstruct income? (it’s in your book – you just have to read carefully as you’re outlining) use ebook ch6


  • 5- In the first paragraph of chapter 10, explain what exactly commercial damages are? use ebook
  • 6- The overview section at the beginning of chapter 12 explains the difference between commercial and economic damages? use ebook
    • 7-Key item: the example shows you three theoretical bases for including fringe benefits in the damages calculation. What are these definitions? use ebook


Sarbanes Oxley

 (use ebook , audit book and any trust source to answer these questions)

  • Effect on consulting services that a non-audit arm of an audit firm can perform for the firm’s audit client
  • 8-What steps need to be taken before such services can be performed.
  • 9-Why?


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