DQ1 Comments NM and DQ Comments ST Assignment Example | Topics and Well Written Essays - 250 words

DQ1 Comments NM and DQ Comments ST - Assignment Example The federal government should create a universal health plan that provided service to all 310 million Americans. A non-profit organization should target athletes, movie starts, the doctors, and entrepreneurs that have income of over $250,000 a year. They would donate 20% of their net income to help finance the medical needs of uninsured people. DQ2) I agree with you that Mr. Hill violated his fiduciary duties. Companies can not use the money from one business to finance the operations of a separate business. Both companies are separate legal entities. He was so corrupt that he used his money to pay for expenses of his wives business. Illegal wire transfers of money were occurring on a recurrent basis. The owner had the board of directors on his pocket. They were like puppets brainwashed by Mr. Hill. The IRS should have been able to detect this fraud sooner because these people deserved jail time for their fraudulent financial activities. SEC regulations and the Sarbanes-Oxley Act were violated in this scenario. Section 404 of Sarbanes-Oxley was violated in this case study. SOX Section 404 mandates that all publicly-traded companies must establish internal controls and procedures for financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness.† (Searchsecurity,