Chaos in the Caribbean Case Study Example | Topics and Well Written Essays - 1000 words

Chaos in the Caribbean - Case Study ExampleIn addition, Aveys responsibilities as the Jamaican government expertise witness involved giving forensic examination and audit assistance. He employed professional examination techniques to carry out an investigation in a way that his findings would be applicable when presented to a court of law (De-Carmoy, 1990). An alert expert witness declaration is essential in every investigation. Avey had an adequate comprehension of the legal course, regulatory and statutory issues of compliance, and pertinent rules of evidence. This made him the most suitable expectation to be appointed by the Jamaican government. Moreover, he investigated evidence that regarded affirmations. This was to determine the evidence association to ascertain criteria performed as required by a court of law. Avey carried out his research on the basis of trustworthy principles of accounting. This assisted him hastily find out misdealing in Blaise Merchant Bank and corpo rate trust Company where pecuniary re offset were lent from a single Blaise financial unit to corporations managed by its main shareholders. In the case involving coulomb interior(a) Bank and its associated financial units, he established dishonesty was the main reason for the issues (McLaughlin, 2006). Question 2 Avey employed professional forensic accounting techniques to investigate the link between Blaise Merchant Bank and desire Company, Eagle Merchant Bank, and Century National Bank and its associated financial units. Avey may have employ source and operation of funds technique. This method is utilized when enormous amounts of pays are use for personal name or growth as a substitute of buying investments or assets. For example, in the Century National Bank and its associated financial units case, the bank used depositors money to obtain assets like original estate for the possible personal benefit of the people who managed the financial institutions kinda of the bene fit of the institutions (McLaughlin, 2006). In addition, the application of funds technique may have been applied in the Eagle merchant Bank case. Here, instead of the depositors funds being used for the benefit of the financial institution, the money was misused. This was in connection with the building of a hotel that was intended as an apartment complex with 130 room suites. Avey may also have used analytical tools during his investigation. Forensic accountants make use of trending to examine financial numbers within a rate of flow (De-Carmoy, 1990). Trending entails performing indicators ratio analyses, for example, working capital and inventory turnover to ascertain deceitful financial statements. Avey used trending to detect self-dealing in Blaise Merchant Bank and Trust Company. In this case, finances were given out from a sole Blaise financial unit to corporations managed by key shareholders. Donald Panton and his wifes funds were utilized to finance the institutions owners businesses. Question 3 The troubles in the financial sector began when Blaise Merchant Bank and Trust Company was temporarily managed by the Finance and planning minister.