are there any obligations for directors to prevent and detect fraud?
87126
Directors and officers have a fiduciary obligation to the shareholders of American corporations to make reasonable efforts to detect and prevent fraudulent conduct within their board, their departments, or the corporation as a whole.  "The Act establishes higher standards of conduct for officers and directors of public companies, which in turn, will raise those standards  in the event of a claim of breach of fiduciary duty, financial mismanagement, or fraud involving private or public companies." http://www.flhealthlawyer.com/Sarbanes.jsp
174840
If there was a paper trail, then the people could see when there was fraud.  That might put the companies out of business.
203706
They check the accountancy records of a company and certify as to their correctness.  In large companies it is a highly skilled profession as they may be held liable in law for any mistakes that lead to shareholders being mislead.
462142
First things first, NOTIFY your bank.\n\nSecond, check to see what the statute of limitations is in your state for filing a charge of fraud. \n\nThird, every person (no matter what age) should keep their monthly checking statements and keep records of every check they posted, so that they can search for discrepancies.
100586
Yes, EVERY company (private, public, small or large) should have internal audits. Wouldn't you want to find irregularities early rather than later?
998522
If it's something that can't be proven by continuing to do your work and be ignored, then I would ask to speak to your immediate supervisor and explain the situation and that you are worried it will affect the company and ask for their advice. That way, they know you are aware of it, that it is untrue, and that you are concerned about how it makes the company look.
86540
You need to check with the Division of Corporations in the state that the company is located. If this is a broker, they should be registered with either the NASD(www.nasd.com) or the CFTC (www.cftc.gov/cftc/cftchome.htm). These also can be checked online. \n\nAt either the aforementioned sites, you are able to check if there have been any complaints filed and the charges in the complaints, as well as, the individual brokers.\n\nIf you feel that there is possibility of fraud, you should notify either of the agencies indicted above, immediately.
738127
They don't.\n\nSee 11 U.S.C. (the bankruptcy code) Section 523(a), which prohibits the discharge of debt fraudulently obtained.   When one purchases on credit with the knowledge or belief that they will not repay their creditors, that person is committing fraud and is subject to both criminal and civil sanction. Simply put, when one charges a debt, one promises to pay the debt back.  If that person is not planning on paying the debt back at the time of the promise, that person is guilty of fraud.\n\nIn any event, non-dischargable debt must be repaid, regardless of whether your friend files for bankruptcy.  Furthermore, dischargable or not (that is, even if not fraudulent), depending on the level of your friend's debt and the amount of assets available to satisfy her creditors, the bankruptcy trustee might very well be entitled to sell all or part of your friend's non-exempt assets (including what she purchased during her mad spending spree) in order to pay off her creditors.\n\nHow will anyone know what your friend was up to? The appointed bankruptcy trustee and any interested creditor will learn of the "mad spending spree" just by examining your friend's financial statements - which they will be entitled to examine - and may even undergo further discovery.  They will most certainly argue that the spending spree, on its face, demonstrates an attempt to defraud creditors and it does not sound like your friend will have an adequate defense.  And if she lies about it under oath, she would be guilty of perjury too.  They also might very well refer the matter to the district or U.S. attorney's office, to further investigate the fraud allegations.
248529
If she opened an account with them under false pretenses yes.  The fraud was incured by both the husband and the CC company, therefore either can pursue fraud charges.
866678
not unless theres fraud involved.
386144
Most movies and scripts have disclaimers stating something to the extent that the content was not based on real people or incidents.  I don't know the extact wording, but you know what I am talking about.  \n\nTo be safe, change the name (slightly)  Scamway, Emway, etc.  It will be obvious what you are referring to without exposing you to liability.
789890
If there is a wilful disregard of a court order, then the proper thing to do is to have the culprit summoned before the court which made the order to be committed to prison for contempt of court.  If you're talking about a company, then its directors will have to be summoned in this way.
550388
no, although ethics is taught in every business curriculum, there are people that will still (when the opportunity presents itself) ensure corporate scandals. \n\nI think a better way would be to have an outside company audit companies more frequently.
981880
Remember fraud and thievery have been around for a long time. No law can prevent these from happening. All it can do is to catch the thieves and punish them. If you look at Enron, Worldcom etc., the law worked. May be we should look at instilling a sense of honesty and integrity in present and future leaders of business.\n\nSarbox is fine. Those who cry "overregulation" want to dilute it.\n\ncc
649848
Honesty is the best policy. When promoting people you must be able to trust that they will act with integrity. The main question for management will be, how can you ensure this not occurring if you receive the promotion?
421884
They might have it in the footnotes somewhere, or it might be listed in the text, but that's kind of rare.  Worse case, you could probably email/call up their investor relations department and just ask.
916112
What you are running into is a "cease and desist" tactic, which is sometime used by businesses to scare off potential threats.  There are two things you should know:\n1) You can not be charged criminally if you haven't committed a crime; and\n2) they wouldn't have warned you if they have evidence of you committing the crime.  They would just close you down.\nTherefore, you can assume these are just threats.  You should handle this in this manner:\n1) Get a lawyer that deals with business law.  If you can not afford one, go to the Small Business Administration and ask for a referral for an attorney that does pro bono work.  Possibly, someone in their office may be able to help you.\n2) Write back to the company.  Request any proof they may have of you committing fraud and offer to prove that you are not at blame for this matter.  DO NOT BE ACCUSATORY!  Hot heads will lead to an explosion here.\n3) If you can make no headway, talk to your lawyer about proceeding with harassment charges against the business.\n\nUsually, if you can show that you can not be pushed around, and if their claim is truly false, they will back off.  Good luck!