Company Eight – Registered Club

OVERVIEW FRAUD – TURNAROUND – PERFORMANCE OF BOARD & MANAGEMENT –LEADERSHIP – SECURED CREDITOR COMPLIANCE – INTERNAL CONTROLS A factor that shows up in just about every report on the underlying reasons for business failure is, put politely the “short comings of management ability.” In referring to management it is normally a reference in this … Continued

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Company Five – Registered Club

OVERVIEW PROVISIONAL LIQUIDATION – TRADE ON – TERMINATION OF BOARD – TRANSFER TO VOLUNTARY ADMINISTRATION – LEADERSHIP – FRAUD. One frequent but not so common reason for corporate failure is fraud. Fraud levels in the Australian business scene are unfortunately quite high in number but much of this is at levels that allow the business … Continued

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Company Two – Automotive Retailer

OVERVIEW   MOTOR TRADE – FLOOR PLAN FUNDING – ADMINISTRATION – FRAUD – TRADING ON – POSITIVE RESULT – KEY NEGOTIATION REQUIREMENTS Following advice that Company Two had received from their solicitors the Directors had been instructed to place the Company into Administration. Company Two had commenced operating some five years earlier as a Used … Continued

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Business ethics part 4 – eliminating Corporate wrongdoings

‘If ethics are poor at the top, that behavior is copied down through the organisation.’ -Robert Norton Noyce, “the Mayor of Silicon Valley”. In the wake of numerous corporate scandals between 2001 and 2004 affecting large multi-national companies like Enron, HIH Insurance, One.Tel and WorldCom, even small and medium-sized companies have begun to appoint ethics … Continued

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Sounds too good to be true? Perhaps it is…

(Source: http://www.scamwatch.gov.au) Before the introduction of the internet, small business was usually confined to a local customer base. The internet has changed this forever. Now the sole trader who sells items as a hobby from their home has worldwide customer base. Unfortunately this is also the case for criminals. Criminals throughout the world are fraudulently … Continued

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Former Big Four Fraudster jailed after gambling spree!

Former PricewaterhouseCoopers (“PwC”) accounting services clerk, Heather MacNeil-Brown was jailed on the 19 June 2007 for stealing $920,239 over a four and a half year period and gambling it at Melbourne’s Crown Casino. MacNeil-Brown committed the offences between 2000 and 2005 while working in the Corporate Advisory and Restructuring Division of PricewaterhouseCoopers. She managed to … Continued

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