Corporate financial scandals for large companies have received a lot of press over the years, but financial scandals occur in companies of all sizes and in all industries. Read the case Koss Corporation Corporate Governance, Internal Controls, and Ethics: What Went Wrong
In an APA-formatted paper of at least 2 – 4 pages, not including the cover page and references, discuss the following:
What were the fraudulent activities in this case? Describe the internal controls that were missing or circumvented. Review the Sarbanes-Oxley Act to review appropriate internal controls and required reporting.
What were the problems in the corporate governance and/or organizational structure at Koss? What are the major requirements of SOX with regards to corporate governance and/or organizational structure? How should the corporate management and accounting function at Koss have been organized?
What should Julie Mulvaney have done when Sue Sachdeva requested her to assist in the fraud?
The EU and its member states have various policies and mechanisms put in place to manage migration in Libya. These include the Memorandum of Understanding on Migration between Italy and Libya. It was first signed on February 2nd 2017 and was renewed and extended for three years with no amendments in February 2020. The Malta declaration came the day after and endorses the same terms. The memorandum stipulates Italy’s material and technical support to the Libyan Coast Guard under the UN-recognised Government of National Accord (GNA). Italy supports training, and equipment of Libyan authorities, enhancing their abilities to intercept migrants at sea and return them to detention centres in Libya. As previously highlighted, in detention centres migrants face abuse and unlawful detention. Since the start of the memorandum 40 000 people have been reportedly intercepted at sea returned to Libya and subject to suffering, 3 000 are said to be in official detention centres where humanitarian organisations have little access. The GNA is also said to have paid militias involved in trafficking to join operations and stop Mediterranean crossings, resulting in a further unstable situation in the country. Given that the EU and the international community are well aware of the abhorrent human rights violations perpetrated on the intercepted migrants it is unjustifiable to maintain such deal. Yet for the deal to be voided, more cooperation to find better ways to protect migrants’ rights is required. Another measure in place until recently was operation Sophia, formally known as EUNAVFOR MED, and implemented in 2015. The operation’s mission was to “identify, capture and dispose of vessels […] used by migrant smugglers and traffickers, in order […] to disrupt human smuggling and trafficking networks and prevent further loss at sea.” The mandate was extended in 2017 to include training of the Libyan coast guard and enforcement of the UN arms embargo. In February 2020, the EU decided to put an end to operation Sophia, as member states believed that instead of being a military mission focused on smuggling and trafficking of people and arms, it had become a humanitarian mission which further overwhelmed the EU with additional arrivals of undocumented migrants. Lastly, the EU Border Assistance Mission (EUBAM) to Libya was created following the fall of Gaddafi to improve Libya’s border control, strengthen the rule of law and build-up capacities to detect smuggling networks. Yet to this date EUBAM Libya only engages with state actors, which, given the fragmentation of Libya seriously limits its reach. While these policies are helpful to a certain extent, they also represent protective mechanisms for the EU in order to limit the arrival of migrants on its shores. The focus on limiting and discouraging crossings by strengthening Libya’s capabilities has made the success of such missions limited. In fact between 2016 and 2017, when the above policies and mechanisms were already in place, a 26 per cent rise of the numbers of migrants a>GET ANSWER