Matching Items (7)
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- All Subjects: Rehabilitation
- All Subjects: SOX
- Creators: Samuelson, Melissa
- Creators: Lee, Hyunglae
- Creators: Lowe, Jordan
- Member of: Barrett, The Honors College Thesis/Creative Project Collection
- Resource Type: Text
Description
Financial statements are one of the most important, if not the most important, documents for investors. These statements are prepared quarterly and yearly by the company accounting department, and are then audited in detail by a large external accounting firm. Investors use these documents to determine the value of the company, and trust that the company was truthful in its statements, and the auditing firm correctly audited the company's financial statements for any mistakes in their books and balances. Mistakes on a company's financial statements can be costly. However, financial fraud on the statements can be outright disastrous. Penalties for accounting fraud can include individual lifetime prison sentences, as well as company fines for billions of dollars. As students in the accounting major, it is our responsibility to ensure that financial statements are accurate and truthful to protect ourselves, other stakeholders, and the companies we work for. This ethics game takes the stories of Enron, WorldCom, and Lehman Brothers and uses them to help students identify financial fraud and how it can be prevented, as well as the consequences behind unethical decisions in financial reporting. The Enron scandal involved CEO Kenneth Lay and his predecessor Jeffery Skilling hiding losses in their financial statements with the help of their auditing firm, Arthur Andersen. Enron collapsed in 2002, and Lay was sentenced to 45 years in prison with his conspirator Skilling sentenced to 24 years in prison. In the WorldCom scandal, CEO Bernard "Bernie" Ebbers booked line costs as capital expenses (overstating WorldCom's assets), and created fraudulent accounts to inflate revenue and WorldCom's profit. Ebbers was sentenced to 25 years in prison and lost his title as WorldCom's Chief Executive Officer. Lehman Brothers took advantage of a loophole in accounting procedure Repo 105, that let the firm hide $50 billion in profits. No one at Lehman Brothers was sentenced to jail since the transaction was technically considered legal, but Lehman was the largest investment bank to fail and the only large financial institution that was not bailed out by the U.S. government.
ContributorsPanikkar, Manoj Madhuraj (Author) / Samuelson, Melissa (Thesis director) / Ahmad, Altaf (Committee member) / Department of Information Systems (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
Executive compensation is broken into two parts: one fixed and one variable. The fixed component of executive compensation is the annual salary and the variable components are performance-based incentives. Clawback provisions of executive compensation are designed to require executives to return performance-based, variable compensation that was erroneously awarded in the year of a misstatement. This research shows the need for the use of a new clawback provision that combines aspects of the two currently in regulation. In our current federal regulation, there are two clawback provisions in play: Section 304 of Sarbanes-Oxley and section 954 of The Dodd\u2014Frank Wall Street Reform and Consumer Protection Act. This paper argues for the use of an optimal clawback provision that combines aspects of both the current SOX provision and the Dodd-Frank provision, by integrating the principles of loss aversion and narcissism. These two factors are important to consider when designing a clawback provision, as it is generally accepted that average individuals are loss averse and executives are becoming increasingly narcissistic. Therefore, when attempting to mitigate the risk of a leader keeping erroneously awarded executive compensation, the decision making factors of narcissism and loss aversion must be taken into account. Additionally, this paper predicts how compensation structures will shift post-implementation. Through a survey analyzing the level of both loss- aversion and narcissism in respondents, the research question justifies the principle that people are loss averse and that a subset of the population show narcissistic tendencies. Both loss aversion and narcissism drove the results to suggest there are benefits to both clawback provisions and that a new provision that combines elements of both is most beneficial in mitigating the risk of executives receiving erroneously awarded compensation. I concluded the most optimal clawback provision is mandatory for all public companies (Dodd-Frank), targets all executives (Dodd-Frank), and requires the recuperation of the entire bonus, not just that which was in excess of what should have been received (SOX).
ContributorsLarscheid, Elizabeth (Author) / Samuelson, Melissa (Thesis director) / Casas-Arce, Pablo (Committee member) / WPC Graduate Programs (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2018-12
Description
Given its impact on the accounting profession and public corporations, Sarbanes-Oxley Act of 2002(SOX) is a widely researched regulation among accounting scholars. Research typically focuses on the impact it has had on corporations, executives and auditors, however, there is limited research that illustrates the impact SOX may have on average Americans. There were several US criminal code sections that resulted from the passing of SOX. Statute 1519, which is often referred to as the "anti-shredding provision", penalizes anyone who "knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to" obstruct a current or foreseeable federal investigation. This statute, although intended to punish behavior similar to that which occurred in the early 2000s by corporations and auditors, has been used to charge people beyond its original intent. Several issues with the crafting of the statute cause its broad application and some litigation even reached the Supreme Court due to its vague wording. Not only is the statute being applied beyond the intent, there are other issues that legal scholars have critiqued it for. This statute is far from being the only law facing these issues as the same issues and critiques are found in the 14th amendment. Rewriting the statute seems to be the most effective way to address the concerns of judges, lawyers and defendants regarding the statute. In addition, Congress could have passed this statute outside of SOX to avoid being seen as overreaching if obstruction of justice related to documents was actually an issue outside of corporate fraud.
ContributorsGonzalez, Joana (Author) / Samuelson, Melissa (Thesis director) / Lowe, Jordan (Committee member) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
The quality of life of many people is lowered by impediments to walking ability caused by neurological conditions such as strokes. Since the ankle joint plays an important role in locomotion, it is a common subject of study in rehabilitation research. Robotic devices such as active ankle-foot orthoses and powered exoskeletons have the potential to be used directly in physical therapy or indirectly in research pursuing more effective rehabilitation methods. This paper presents the LiTREAD, a lightweight three degree-of-freedom robotic exoskeletal ankle device. This novel robotic system is designed to be worn on a user's leg and actuate the foot position during treadmill studies. The robot's sagittal plane actuation is complemented by passive virtual axis systems in the frontal and transverse planes. Together, these degrees of freedom allow the device to approximate the full range of motion of the ankle. The virtual axis mechanisms feature locking configurations that will allow the effect of these degrees of freedom on gait dynamics to be studied. Based on a kinematic analysis of the robot's actuation and geometry, it is expected to meet and exceed its torque and speed targets, respectively. The device will fit either leg of a range of subject sizes, and is expected to weigh just 1.3 kg (2.9 lb.). These features and characteristics are designed to minimize the robot's interference with the natural walking motion. Pending validation studies confirming that all design criteria have been met, the LiTREAD prototype that has been constructed will be utilized in various experiments investigating properties of the ankle such as its mechanical impedance. It is hoped that the LiTREAD will yield valuable data that will expand our knowledge of the ankle and aid in the design of future lower-extremity devices.
ContributorsCook, Andrew James Henry (Author) / Lee, Hyunglae (Thesis director) / Artemiadis, Panagiotis (Committee member) / Mechanical and Aerospace Engineering Program (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
This paper consists of a literature review, wherein four papers surrounding Motivation Crowding Theory (MCT) were read and analyzed. The paper then goes into an analysis of a survey I conducted. The survey consisted of three main questions with three sub-questions for each, and all attempted to find a "limit" to MCT. However, results for the survey were ultimately inconclusive. The paper concludes with lessons learned in conducting research and surveys in particular, as well as a nod to the relevancy of MCT in business and personal applications.
ContributorsSmith, Mallory Anne (Author) / Reckers, Phil (Thesis director) / Samuelson, Melissa (Committee member) / Lowe, Jordan (Committee member) / School of Accountancy (Contributor) / Department of Information Systems (Contributor) / WPC Graduate Programs (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
This paper presents the design of a pneumatic actuator for a soft ankle-foot orthosis, called the Multi-material Actuator for Variable Stiffness (MAVS). This pneumatic actuator consists of an inflatable soft fabric actuator fixed between two layers of rigid retainer pieces. The MAVS is designed to be integrated with a soft robotic ankle-foot orthosis (SR-AFO) exosuit to aid in supporting the human ankle in the inversion/eversion directions. This design aims to assist individuals affected with chronic ankle instability (CAI) or other impairments to the ankle joint. The MAVS design is made from compliant fabric materials, layered and constrained by thin rigid retainers to prevent volume increase during actuation. The design was optimized to provide the greatest stiffness and least deflection for a beam positioned as a cantilever with a point load. The design of the MAVS took into account passive stiffness of the actuator when combining rigid and compliant materials so that stiffness is maximized when inflated and minimal when passive. An analytic model of the MAVS was created to evaluate the effects in stiffness observed by varying the ratio in length between the rigid pieces and the soft actuator. The results from the analytic model were compared to experimentally obtained results of the MAVS. The MAVS with the greatest stiffness was observed when the gap between the rigid retainers was smallest and the rigid retainer length was smallest. The MAVS design with the highest stiffness at 100 kPa was determined, which required 26.71 ± 0.06 N to deflect the actuator 20 mm, and a resulting stiffness of 1,335.5 N/m and 9.1% margin of error from the model predictions.
ContributorsHertzell, Tiffany (Author) / Lee, Hyunglae (Thesis director) / Sugar, Thomas (Committee member) / Mechanical and Aerospace Engineering Program (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
DescriptionDo existing programs offered during incarceration successfully reduce recidivism rates in the United States and if so, how can criminology theories be leveraged to understand why?
ContributorsMorken, Maya (Author) / Hostal, Katherine (Co-author) / Samuelson, Melissa (Thesis director) / Korets, Lora (Committee member) / Barrett, The Honors College (Contributor) / Department of Economics (Contributor) / School of Civic & Economic Thought and Leadership (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2022-05