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Who's Allegedly 'Cooking the Books' and Where?
As the economic downturn and financing challenges continue to put many organizations under heightened pressure, financial-statement fraud remains
a concern to lenders, investors and regulators. In a poll conducted during an April 23, 2009 Deloitte online seminar entitled “Managing Fraud Risk: Insights and Practical Strategies,” 72% of the 2,123 respondents indicated a belief that the number of accounting frauds uncovered would increase over the next two years.
When asked which type of financial-statement fraud was of greatest concern to them in the current economic environment, in second place after the usual answer ' manipulation of revenue recognition, chosen by 41% of respondents ' was manipulation for debt covenant compliance purposes. This scheme is not usually brought up in studies of common financial-statement frauds, but in this seminar it was selected by 18% of respondents. These results suggest that financial-statement fraud continues to be an important business risk for organizations to guard against.
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The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.