The Obvious Fraud Revisited: The Admission-Seeking Interview

E.Z. Pickens Conglomerate, S.A. is a large, multi-national manufacturing organization. Approximately six months ago an anonymous tip was left on the company’s fraud hotline. The tip pertained to a division manager of the company who had allegedly perpetrated a fraudulent vendor scheme in collaboration with their significant other. Your company’s internal audit department conducted a review of the vendor file, corroborated the allegation, and forwarded their findings to your department. You supervised a complete investigation into the matter which will now culminate with an admission-seeking interview of the fraudster. Your task is to review the investigative file, prepare to confront the alleged perpetrator, and then conduct the admission-seeking interview to obtain an oral and written confession

Boxfishes (Teleostei: Ostraciidae) as a model system for fishes swimming with many fins: kinematics

Swimming movements in boxfishes were much more complex and varied than classical descriptions indicated. At low to moderate rectilinear swimming speeds (<5 TL s^(-1), where TL is total body length), they were entirely median- and paired-fin swimmers, apparently using their caudal fins for steering. The pectoral and median paired fins generate both the thrust needed for forward motion and the continuously varied, interacting forces required for the maintenance of rectilinearity. It was only at higher swimming speeds (above 5 TL s^(-1)), when burst-and-coast swimming was used, that they became primarily body and caudal-fin swimmers. Despite their unwieldy appearance and often asynchronous fin beats, boxfish swam in a stable manner. Swimming boxfish used three gaits. Fin-beat asymmetry and a relatively nonlinear swimming trajectory characterized the first gait (0–1 TL s^(-1)). The beginning of the second gait (1–3 TL s^(-1)) was characterized by varying fin-beat frequencies and amplitudes as well as synchrony in pectoral fin motions. The remainder of the second gait (3–5 TL s^(-1)) was characterized by constant fin-beat amplitudes, varying finbeat frequencies and increasing pectoral fin-beat asynchrony. The third gait (>5 TL s^(-1)) was characterized by the use of a caudal burst-and-coast variant. Adduction was always faster than abduction in the pectoral fins. There were no measurable refractory periods between successive phases of the fin movement cycles. Dorsal and anal fin movements were synchronized at speeds greater than 2.5 TL s^(-1), but were often out of phase with pectoral fin movements

Attitudes Toward Dysfunctional Audit Behavior: The Effects Of Locus Of Control, Organizational Commitment, and Position

Dysfunctional audit behavior (DAB) is associated with decreased audit quality (Public Oversight Board 2000). While recent studies suggest that dysfunctional audit behavior is a widespread problem (Smith 1995; Otley and Pierce 1995), extant research fails to adequately explain the causes or determinants of this form of deviant behavior. This study develops and tests a theoretical model that identifies locus of control, position, and organizational commitment as antecedents of attitudes toward DAB. Using a cross-organizational design and a path analysis technique, survey results from 113 auditors support the theoretical model.

The OHearns: Estate Planning In The Presence Of Long-Term Care Considerations

This case exposes students to issues surrounding estate planning when one or both spouses contemplate a need for costly long-term care. The role of Medicare and especially Medicaid in paying for such care is emphasized. The case addresses such issues as whether or not to purchase long-term care insurance and what factors to consider when transferring assets. In addition to addressing legal and technical issues, the case also addresses ethical issues (e.g., the ethics of impoverishing oneself through the transfer of assets in order to qualify for Medicaid). It may be used in any undergraduate or graduate level course that includes some emphasis on estate planning

A Modified Price-Sales Ratio: A Useful Tool For Investors?

This study compares returns for stock portfolios using low price-to-earnings, price-to-book, price-to-sales, and price-to-sales ratios modified for profitability of sales and long-term debt. Non-financial companies with fiscal years ending on December 31 were included in a sample covering a 17-year period (1988-2004). The resulting sample was sub-divided into six groups by level of market capitalization.  A 25 stock portfolio was then compiled for each of six valuation ratios at each level of market capitalization. An index portfolio was also computed for each level of market capitalization.  First, the results of this study showed that additional expected returns based on firm size, measured by the market value of equity, is found only at the micro-cap level (less than $25 million market capitalization). The index portfolios of mini-caps ($25-100 mill.), small caps ($100-500 mill.), and mid-caps ($500-$1 bill.) did not show any additional returns in comparison to the large-cap index portfolio. Second, no "value" portfolio for mid-caps provided significant returns above the index portfolio, suggesting a much greater level of market efficiency at this level of market capitalization.  Finally, the most significant findings of our study were that the portfolios constructed from low price-to-sales and modified price-to sales ratios performed as well or better than the more traditional price-to-earnings and price-to-book ratios. The price-to-sales ratio adjusted for profit margin (based on the prior three years) was statistically significant in three of six portfolios in comparison to the more traditional valuation ratios

Body-size and aerial basking dynamics of the Spiny Softshell (Apalone spinifera) in a human-modified landscape in Tennessee, USA

Spiny Softshells (Apalone spinifera) are found in aquatic environments throughout much of the central-eastern USA. Although this species is widespread throughout much of Tennessee, little is known about Spiny Softshells in the state’s northeastern counties. Further, little work has investigated the role of Spiny Softshell body size on resource use, and the morphometrics of the species in a human-modified ecosystem. Here we present results of a four-month capture and basking observation study conducted in 2004. We investigated whether larger body size was positively associated with presence at limited aerial basking resources that are potentially important for thermoregulation. We found that hoop trap captures positioned next to basking sites, a proxy for aerial basking resource use, were not associated with sex or body size measurements. Opportunistic basking observations revealed most individuals basked in the afternoon. Our study, while short in duration and of low sample size, builds understanding on the body size and intraspecific effects of resource use by Spiny Softshells in a human-modified ecosystem

Rifts in Spreading Wax Layers

We report experimental results on the rift formation between two freezing wax plates. The plates were pulled apart with constant velocity, while floating on the melt, in a way akin to the tectonic plates of the earth's crust. At slow spreading rates, a rift, initially perpendicular to the spreading direction, was found to be stable, while above a critical spreading rate a "spiky" rift with fracture zones almost parallel to the spreading direction developed. At yet higher spreading rates a second transition from the spiky rift to a zig-zag pattern occurred. In this regime the rift can be characterized by a single angle which was found to be dependent on the spreading rate. We show that the oblique spreading angles agree with a simple geometrical model. The coarsening of the zig-zag pattern over time and the three-dimensional structure of the solidified crust are also discussed.Comment: 4 pages, Postscript fil

Error in Airspeed Measurement Due to the Static-Pressure Field Ahead of an Airplane at Transonic Speeds

The magnitude and variation of the static-pressure error for various distances ahead of sharp-nose bodies and open-nose air inlets and for a distance of 1 chord ahead of the wing tip of a swept wing are defined by a combination of experiment and theory. The mechanism of the error is discussed in some detail to show the contributing factors that make up the error. The information presented provides a useful means for choosing a proper location for measurement of static pressure for most purposes

Standardizing GPU Radiation Test Approaches - Part 2

A standardized test method has been created to characterize and stress graphics processing units (GPU) during radiation effects testing

A Missense Mutation in the Transcription Factor ETV5 Leads to Sterility, Increased Embryonic and Perinatal Death, Postnatal Growth Restriction, Renal Asymmetry and Polydactyly in the Mouse

ETV5 (Ets variant gene 5) is a transcription factor that is required for fertility. In this study, we demonstrate that ETV5 plays additional roles in embryonic and postnatal developmental processes in the mouse. Through a genome-wide mouse mutagenesis approach, we generated a sterile mouse line that carried a nonsense mutation in exon 12 of the Etv5 gene. The mutation led to the conversion of lysine at position 412 into a premature termination codon (PTC) within the ETS DNA binding domain of the protein. We showed that the PTC-containing allele produced a highly unstable mRNA, which in turn resulted in an undetectable level of ETV5 protein. The Etv5 mutation resulted in male and female sterility as determined by breeding experiments. Mutant males were sterile due to a progressive loss of spermatogonia, which ultimately resulted in a Sertoli cell only phenotype by 8 week-of-age. Further, the ETV5 target genes Cxcr4 and Ccl9 were significantly down-regulated in mutant neonate testes. CXCR4 and CCL9 have been implicated in the maintenance and migration of spermatogonia, respectively. Moreover, the Etv5 mutation resulted in several developmental abnormalities including an increased incidence of embryonic and perinatal lethality, postnatal growth restriction, polydactyly and renal asymmetry. Thus, our data define a physiological role for ETV5 in many aspects of development including embryonic and perinatal survival, postnatal growth, limb patterning, kidney development and fertility.This work was supported by grants the Australian Research Council (ARC) to MKO’B and CJO; the New South Wales Cancer Council, Cancer Institute New South Wales, Banque Nationale de Paris-Paribas Australia and New Zealand, RT Hall Trust, and the National Breast Cancer Foundation to CJO. DJ was a National Health and Medical Research Council (NHMRC) of Australia Peter Doherty Postdoctoral Fellow (#384297). MKO’B and CJO are NHMRC Senior Research Fellows (#545805, #481310). CCG is an NHMRC Australia Fellowship. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript