Professor Ralph talked about an auditing case in class today.
The case revealed the fact that weak or nonexistent internal controls have resulted in some prominent chartable organizations, as well as numerous other charities nationwide, being victimized by opportunistic employees.
It took a charity organization society in the states named United Way of America as an example to reveal a series of embarrassing and highly publicized embezzlement schemes. The federal jury found the president of Untied Way of America guilty of misusing millions of dollars of charitable funds.
In my belief, charity is an important part of conscious living experience. Understanding the disadvantages that others face in their daily lives, improve life for others, is a key of giving back. But it seems that something is wrong here. There are always some kind of people doing evil things under veil of charity. This is contrary to the original intention of
a charity.
One more thing I'm concerned about is that as the number of charitable organizations increases rapidly, the expense to run them is increasing accordingly. In my opinion, we should reduce the number of these organization to a certain amount and set strong regulatory oversight for the charitable sector. By doing that, our society could be better served.
The case revealed the fact that weak or nonexistent internal controls have resulted in some prominent chartable organizations, as well as numerous other charities nationwide, being victimized by opportunistic employees.
It took a charity organization society in the states named United Way of America as an example to reveal a series of embarrassing and highly publicized embezzlement schemes. The federal jury found the president of Untied Way of America guilty of misusing millions of dollars of charitable funds.
In my belief, charity is an important part of conscious living experience. Understanding the disadvantages that others face in their daily lives, improve life for others, is a key of giving back. But it seems that something is wrong here. There are always some kind of people doing evil things under veil of charity. This is contrary to the original intention of
a charity.
One more thing I'm concerned about is that as the number of charitable organizations increases rapidly, the expense to run them is increasing accordingly. In my opinion, we should reduce the number of these organization to a certain amount and set strong regulatory oversight for the charitable sector. By doing that, our society could be better served.
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